The Bank of England's forecasting record has been lamentable, says ALEX BRUMMER By Alex Brummer for the Daily Mail Updated: 17:01 EST, 28 December 2023 e-mail View comments Here is something we can all identify with. Economics was labelled the ‘dismal science’ by the essayist Thomas Carlyle way back in the 19th Century. Nothing seems to have changed. Both its forecasting record and its doom-laden predictions are proving dismally off the mark. When the Bank of England was given its independence in 1997, one of the architects Ed Balls was keen that it become an economic powerhouse, achieving the same respect earned by the German…
