Overivew and Outlook for the UK Economy

Dr Sloan was previously the Chief Economist at Greater Manchester Chamber of Commerce and a Policy Tax Adviser is the Bank Of England’s Agent for the North West - the eyes, ears and voice of the Bank of England. Dr Sloan has a rare gift the ability to make the complex interesting and understandable
Dr Sloan gave an overview of the economy and its influences. His colourful descriptive slides helped the audience understand the complexities of the housing market, the latest inflation report, the global economy and the outlook for UK .
The “B” word came up of course and how the market, business and household response to the final deal would determine the path of Bank rate in the next few years. The equilibrium interest rate – r* which is a way to think about the forces acting on the economy, was discussed in detail.
The Global economy continues to grow and given confidence indicators this is expected to continue, in turn this should support the UK economy. The Bank’s overall judgement is for continued, steady growth in the UK of 1¾% over the next few years. Dr Sloan suggested the audience read the next Inflation Report produced by the Bank of England in November.
There were a great many questions from the audience, with even a few challenges to Dr Sloan’s slides. These challenges stimulated more debate.
Liverpool Insurance Institute were very privileged to have such a learned and important speaker and the feedback after the event certainly illustrated how appreciative his audience was. There were marks of “6” – (the top mark) all round. Well done Dr Sloan and thank you for giving up your time.