BoE cuts its growth forecasts

Source: Investing.com
© Reuters
On Thursday, the Bank of England left its benchmark interest rate unchanged at a record-low 0.5% and revised down its growth outlook for the Q2 from 0.5% to 0.3%. Moreover, the BoE lowered its annual growth forecast for the UK from 2.2% to 2.0%, and highlighted that the country's inflation rate remained below the 2% target level.



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