BoE cuts UK growth forecast
Inflation likely to stay above 4% for first half of 2022 amid supply constraints and energy squeeze – MPC
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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