In August The Bank of England forecast growth in the UK in 2017 to be 0.8%.
They have now adjusted that forecast to 2%.
That’s a factor of 2.5.
Accordingly our forecast of Mark Carney’s IQ has been adjusted from 150 – isn’t everyone who has worked at Goldman Sachs a genius? – to a more realistic 60. A factor of 2.5.
We think this explains everything.
[Ed: Perhaps too much Carney in these blogs.]