BoE slashes inflation, GDP forcasts

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With the debt crisis threatening to tip Britain back into a recession, the Bank of England has left the door open for more stimulus to shore up its economy.

The central bank slashed its inflation and growth forecasts today, as Governor, Mervyn King, said market conditions had deteriorated since August.

The BoE, which restarted its asset buying program in October with a 75 billion pound cash boost, sharply revised down its near-term growth forecasts and now sees a strong chance that annual GDP will be below 1 percent throughout 2012.

It expects inflation to fall below target by the end of 2012. Economists

Editor:Zhang Rui |Source: CNTV.CN



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