The PRimage team are trying not to be too downhearted by this morning’s gloomy economic news … according to the NIESR, the UK economy will shrink by 2.7% in 2009, which would be its worst performance for 60 years. And there are warnings that as consumers cut spending on a scale not seen for decades, Britain will enter the gravest recession of the post-war era and will see only an insipid recovery in 2010.
The Bank of England is widely expected to cut rates from 1.5% to 1% on Thursday – but PRimage view is that more rate cuts won’t work! What’s your view? Please post a comment.