Bank of England expected to lower growth forecasts
LONDON — The Bank of England is expected to lower its economic growth forecasts and raise its expectations for inflation next year when it publishes its quarterly report on the economy today.
The bank’s anticipated revisions follow the change in government in Britain — the Conservative-led coalition that took power in May is implementing a series of spending cuts to lower the country’s big deficit.
Its plans to raise consumer sales tax from the start of next year are expected to have a particular impact on the forecasts.
Just ahead of the central bank’s release, official data has shown that the number of unemployed Britons fell in the three months to June — but the rate of decline in the jobless rate is slowing.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Alcorn president launches new customer service task force
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- David Duval, former British Open winner, joins Sanderson Farms field
- Court rules against Greenwood councilwoman; must give up office
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Cochran continues to reach out to African American voters
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- Peoples Bank reports quarterly loss due to bad loans
- Senators write letter over Waters of the United States proposal