Bank of England Inflation Report, November 2004

The Bank of England published its November 2004 Inflation Report on 10 November. In the report the Bank cut its forecast for U.K. economic growth in 2005 to about 2.5 per cent from 3.1 per cent and said tht inflation may accelerate less than expected.

The central bank reiterated that it expects inflation to reach its 2 percent target after two years and forecast a pickup in economic growth in 2006 as a decline in the pound boosts exports, according to today's quarterly inflation report.


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