UK Growth Forecast Cut by Bank of England

  • Written by Kevin Coy
Bank of England cuts is growth forecast amidst a cautious outlook
Bank of England cuts the UK's growth forecast for 2017, citing a slowdown in household spending.

The Bank of England has cut its 2017 growth forecast to 1.9% from 2.0% that it estimated in February, as infation was seen continuing to rise, along with weak retail sales, and a considerable fall in new car registrations.

The all important interest rates were also held at 0.25%, in-line with analysts expectations.