Home » A slowing jobs market will be good news for the Bank of England

A slowing jobs market will be good news for the Bank of England

There’s quite a lot going on. Figures at the end of this week will determine whether the government, in need of succour before May’s local elections, will be able to claim that the economy has turned a corner.

If, as economists expect, Friday’s monthly gross domestic product figures show a tiny 0.1 per cent rise in February (after one of 0.2 per cent in January), ministers may be able to get away with it. If there is no increase at all, then, like generations of farmers and shop owners, they may have to resort to blaming the weather.

Also on Friday, the Bank of England will announce its response to Ben Bernanke’s review into its forecasting methods and the way its predictions are communicated. I