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Evening Standard
Evening Standard
Business
Jonathan Prynn

Blow for Boris Johnson as Bank of England slashes UK growth forecast

United Kingdom Bank Bank of England Boris Johnson G7 MPC

Boris Johnson

(Picture: AFP via Getty Images)

The Bank of England has slashed its forecasts for growth this year in a major blow to Boris Johnson’s plans for economic recovery from the pandemic.

GDP is set to rise by just 3.75% this year, a huge downgrade from the 5% previously expected as recently as November, according to the Bank’s Monetary Policy Committee (MPC).

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