BOE's Bailey Doesn't Forecast a Recession

The video discusses the economic forecast from last autumn, predicting a long but shallow recession. However, the economy has shown resilience, partly due to a sharp fall in energy prices in Europe, which helped reverse the terms of trade shock. The unexpected mild winter also contributed positively. The speaker emphasizes the need to monitor the situation closely, despite not currently forecasting a recession.

What was surprising yet helpful regarding the winter weather?

What is the current stance on forecasting a recession?