Bank of England chief economist Pill:
Some high-frequency indicators of wages have fallen quite sharply recently.
GDP is projected to fall slightly over the coming quarters
Survey indicators that have become available since the publication of the forecast have surprised to the upside, suggesting that the current momentum in economic activity may be slightly stronger than anticipated.
CPI inflation is projected to fall to below the 2% target by the end of the forecast horizon
GDP is expected to be close to zero in Q1
The labor market is tighter than unemployment rate would suggest
Unemployment is projected to be very low