Bank of England: UK growth will be "flat"

The Bank of England has issued a mixed-bag Inflation Report suggesting times will stay difficult alth...

The Bank of England has issued a mixed-bag Inflation Report suggesting times will stay difficult although inflation will ease early next year. The report said inflation will likely recede next year, but any market bull runs were tempered by a worse than expected growth forecast. Bank governor Mervyn King stated growth will be "flat" in the report, issued at midday. “The central projection is for output to be broadly flat over the next year, so that four-quarter growth slows sharply in the near term,” he said. “That is markedly lower than the projection in May, reflecting a weaker pro...