Bank of England lowered growth forecasts for this week

Bank of England lowered growth forecasts this week, confirming that the recovery has slowed due to reductions in government spending. The Central Bank plans to revise downwards growth forecast for this week with the disclosure of the Quarterly Inflation Report on Wednesday. This is the second increase, the previous time the Bank of England lowered its forecast in February. Lowering is likely to be accompanied by a slight rise in inflation forecast for the near future, analysts say. Combined, the prospects for growth and inflation is likely to indicate that the bank will leave rates unchanged at 0.5% until the end of the year - in line with the latest forecasts. In February, the bank cut growth forecast to 3.27% in November to 2.6%. Economists said they had "no choice" but even if the forecast will be lowered again, he would remain above 1.5%. "Given that the bank expects growth of 0.8% in the first quarter, and we got 0.5%, they do not have much choice but to lower growth," - said the hat from Mexico Daiwa Capital Markets. On materials K2Kapital