BoE cuts UK growth forecast

Bank of England and Stock Exchange
Rachael King

The Bank of England’s monetary policy committee has cut its growth forecast, and warned UK inflation will rise slightly above 4% in the last quarter of this year.

It also cautioned that this level of inflation was likely to last until the second quarter of next year.

The MPC’s inflation forecast was marginally above the BoE’s August figure, which predicted fourth quarter inflation of 4%, above its target level of 2%.

Year-on-year consumer price index inflation rose from 2% in July to 3.2% in

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