Economic growth slowest in 10 years
The Bank of England expects growth this year to be the slowest since 2009 when the economy was in recession.
It is forecasting growth of 1.2% this year, down from its previous forecast of 1.7% made in November.
The Bank put the fall down to a decline in business investment over the past year, as well as a halving of the growth rate in exports. Surveys by the BoE suggest this is mainly because of uncertainty over Brexit.As expected the Bank kept interest rates on hold at 0.75%.
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