Realistbear Posted May 10, 2006 Share Posted May 10, 2006 http://www.ksl.com/?nid=153&sid=54560 Bank of England Lowers '07 Growth Forecast May 10th, 2006 @ 10:04am By JANE WARDELL AP Business Writer LONDON (AP) - The Bank of England lowered its 2007 economic growth forecast but lifted its inflationary predictions Wednesday, raising questions about the timing of a widely anticipated rise in interest rates. In a quarterly report, the bank said that economic growth may accelerate to about 3 percent in the first quarter before slowing to about 2.75 percent by the final three months of 2007. The bank was previously predicting growth of as much as 3.25 percent in 2007. The bank said consumer-price inflation will rise above the bank's target of 2 percent this year on the back of higher energy and import costs before moderating back to that level by the end of 2007. Not long before the markets realise sterling is not the most valuable currency in the world? Perhaps Europe was a little premature lauding Gordon as the world's greatest Chancellor in living memory? He just rode the eonomic cycle up and now its going down and his fortunes will sink with it. Quote Link to comment Share on other sites More sharing options...
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