Economics
BOE Foresees Biggest U.K. Spending Boom Since Thatcher Era
- Central bank doubles forecast for splurge of excess savings
- Consumers built up $278 billion when economy was shut
Margaret Thatcher, center, in Brighton, Sussex, during the Conservative Party Conference, in 1988.
Source: Daily Express/Hulton Archive/Getty ImagesThis article is for subscribers only.
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The Bank of England expects the biggest surge in household spending since 1988 -- when Margaret Thatcher was prime minister -- to help power a strong economic rebound after the pandemic.