Bank of England Lowers Growth Forecast
The Bank of England today lowered it's assessment of the economic outlook in the UK and forecast inflation to exceed 3% in January.
The BoE now appears more cautious in it's outlook than in it's previous November Quarterly Report, saying that economic growth is set to reach only around 3.2% by the second quarter of next year - considerably smaller than their previous estimate of 4%.
The bank also said that the outlook for inflation was that it will peak at around 3.3% before slowing to 0.9%, warning that things looked "unusually uncertain".
The BoE now appears more cautious in it's outlook than in it's previous November Quarterly Report, saying that economic growth is set to reach only around 3.2% by the second quarter of next year - considerably smaller than their previous estimate of 4%.
The bank also said that the outlook for inflation was that it will peak at around 3.3% before slowing to 0.9%, warning that things looked "unusually uncertain".