Bank of England cuts growth forecasts as Brexit and global worries mount
The Bank of England lowered its growth forecasts on Thursday due to increased Brexit worries and a slowing global economy, but stopped short of following other central banks and considering an interest rate cut.
A day after the U.S. Federal Reserve reduced rates for the first time since the global financial crisis, the BoE said it still expected to raise borrowing costs gradually - though this now hinged on a global pick-up as well as a “smooth” Brexit.
Read more at Reuters.
