BoE’s Pill sees little or no growth in coming year

LONDON (Reuters) – Britain is likely to see little or no economic growth in the next year or so as surging inflation erodes households’ spending power, Bank of England chief economist Huw Pill said on Wednesday.

“We’re not expecting really to see any growth in the economy over the next year or so,” Pill said.

In its last full set of economic forecasts in May, the BoE forecast British gross domestic product would shrink 0.25% next year and grow 0.25% in 2024.

(Reporting by Andy Bruce, writing by David Milliken; editing by William James)