BOE QIR: Biggest downgrade of GDP from one report to another

Alongside the BOE rate cut announcement, the central bank published the quarterly inflation report (QIR), stating that, ‘weaker outlook reflects expectation of big-near term falls in business and housing investment.’

Key Details:

BoE staff slash growth forecasts by deepest on record: 2017 0.8% From 2.3% (May Forecast)