BoE deputy's outlook gloomy for UK economy

Sir John Gieve, a deputy governor at the Bank of England, has warned that growth will slow and inflation surge in the coming months.

Sir John told Irish News, a Northern Ireland-based newspaper: "We're just at the beginning of this downturn" and that inflation, which hit 4.4% in the year to August, "certainly hasn't peaked yet".

"Our latest forecast in August [in the Bank's quarterly Inflation Report] did show a period of flat output for most of the year and certainly this is a sharp slowdown,"

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