BoE says GDP growth likely to fall back sharply in Q4
2012-11-14 14:22:38
U.K. GDP growth is set to fall back sharply in the fourth quarter, the Bank of England said its quarterly Inflation Report, published on Wednesday. Further, the outlook for UK growth remains uncertain, it said.
According to BoE, output is more likely than not to remain below its pre-crisis level until towards the end of the forecast period. The bank sees a greater risk of economy staying in a period of persistent low growth.
Inflation in the near term is expected to be higher than thought in August, but further out the risks to inflation around the 2 percent target are judged to be broadly balanced, it said.