In this talk, Professor Stephen Millard discusses the outlook for the UK economy in light of the Chancellor’s Spring Statement and accompanying Office for Budget Responsibility (OBR) forecast. He compares the current NIESR view as to the outlook for GDP, inflation and the labour market with the OBR’s forecast and the forecast from the Bank of England’s February Monetary Policy Report. In his remarks, Professor Millard also draws out the implications for monetary and fiscal policy moving forward.
About the Speaker:
Professor Stephen Millard is the Interim Director of the National Institute of Economic and Social Research (NIESR) in the UK and is currently part of the Irish Fiscal Advisory Council. Prior to joining NIESR, Stephen worked for 26 and a half years at the Bank of England. During this time, he worked in a variety of policy, research and managerial roles across the Bank's Monetary Analysis and Financial Infrastructure Directorates. He is also a Visiting Professor at the Durham University Business School and the University of Portsmouth. He holds a Ph.D. from Northwestern University.