This report is from this week’s CNBC’s UK Exchange newsletter. Like what you see? You can subscribe here.
It is tempting, in assessing what 2025 brought for the U.K. economy and for Britain’s corporates and financial markets, to focus more on what didn’t happen than on what did.
Most obviously, widely expected interest rate cuts from the Bank of England did not materialize to the extent that had been expected, while inflation failed to decline as the Bank — and others — had expected it to.
For the economy as a whole, though, forecasters were largely correct.
At the beginning of the year, most expected the U.K. to grow by between 1.3%-1.5%, according to the regular comparison of independent forecasts compiled by the Treasury.
