Bank of England chops Q2 growth forecast | The Daily Star
12:00 AM, June 21, 2019 / LAST MODIFIED: 12:41 AM, June 21, 2019

Bank of England chops Q2 growth forecast

The Bank of England cut its growth forecast for Britain’s economy to zero in the second quarter of 2019 and highlighted risks from global trade tensions and growing fears of a no-deal Brexit.

BoE officials voted unanimously to hold interest rates at 0.75 percent, as expected, and stuck to their message that rates would need to rise in a limited and gradual fashion, assuming Britain can avoid a damaging no-deal Brexit.

However, the BoE noted on Thursday a darkening global outlook that has already prompted the European Central Bank, US Federal Reserve and Bank of Japan to signal this week that more stimulus could be on the way.

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