Eu­ro­zone strains weigh on growth

The Star Early Edition - - BUSINESS REPORT -

THE BANK of Eng­land (BoE) on yes­ter­day trimmed its fore­cast for Bri­tish growth, cit­ing eco­nomic strains in the neigh­bour­ing eu­ro­zone. With the BoE pre­dict­ing also lower in­fla­tion de­spite long-awaited wages growth, an­a­lysts said the bank was un­likely to raise its record-low in­ter­est rate of 0.5 per­cent un­til late 2015. “A spec­tre is haunt­ing Europe – the spec­tre of eco­nomic stag­na­tion, with growth dis­ap­point­ing again and con­fi­dence fall­ing back,” BoE gov­er­nor Mark Car­ney told a press con­fer­ence after the bank re­leased its lat­est quar­terly forecasts. – Sapa-AFP

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