Goodhart predicts "annus horribilis" for BoE's MPC

The Bank of England's Monetary Policy Committee (MPC) is in for a terrible year, Charles Goodhart, a former member of the committee, said.

Goodhart told Bloomberg, a media company, that the UK economy faced "quite a recession" and that the MPC would face an "annus horribilis" that will force it to cut rates despite above-target inflation.

"Output is going to fall, unemployment is going to rise, possibly quite sharply," he said.

The Bank is now battling inflation above the 3% upper limit of its

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