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BUSINESS LIVE: Bank of England expected to hike growth forecasts

BUSINESS LIVE: Bank of England set to hike growth forecasts; Next issues another profit upgrade; Barratt returns rate relief cash; Trainline posts £100m loss

  • Economic growth forecasts set to be increased by the Bank of England today
  • Boss of Next looking forward to shoppers returning to parties and weddings

The FTSE 100 enjoyed a sterling day on Wednesday and analysts will be watching closely to see if it stays above the 7,000 mark.

While voters are hitting the election polls, it’s set to be a busy day for traders following the Bank of England’s latest Monetary Policy Committee decisions.

Gross domestic product forecasts are expected to be increased amid the country’s mass vaccine rollout, and interest rates are predicted to stay put at 0.1 per cent. 

Retailer Next issued its third profit upgrade in less than a year today, meaning it has recovered nearly all the ground lost to the pandemic. 

Elsewhere, homebuilder Barratt announced it is paying back more cash it received via the Government in the form of business rate relief, and Trainline unveiled the extent of the pandemic’s impact on its business, posting a huge loss.