A difference of opinion has surely emerged between the chancellor and the governor of the Bank of England.
Last month, Rachel Reeves confidently asserted that “the economy has turned a corner” in a BBC interview. A couple of weeks later, she repeated that view. “The most recent GDP (gross domestic product) numbers, 0.7 per cent growth in the first quarter, the strongest in the G7, and recent business surveys ... are very positive,” she told a Confederation of British Industry dinner. “That is good news and does show we are beginning to turn the corner.”
