“UK economic growth slowed in late 2018 and appears to have weakened further in early 2019,” the central bank said after the BoE said after keeping its main interest rate at 0.75 percent. “This slowdown mainly reflects softer activity abroad and the greater effects from Brexit uncertainties at home,” it added. The BoE had in November forecast 2019 growth of 1.7 percent. “Brexit uncertainties had intensified considerably since the Committee’s November meeting,” the BoE said Thursday. In London on Thursday, the BoE also slashed its forecast for 2020 UK growth — to 1.5 percent from 1.7 percent.

Source: The Guardian February 07, 2019 12:56 UTC