According to BOE MPC member Andrew Sentance economic data since February supports the Bank of England scenario of a modest recovery in late 2009 and a stronger rebound in 2010.
In a speech to engineers in London Sentance said “Some of the business survey data is now more positive, albeit recovering from a low base. There are tentative signs of a pickup in housing market activity. And UK exports do not seem to be falling as sharply as other countries.”
Sentance expects action already taken by central bank to support recovery.