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The Independent UK
The Independent UK
Business
Helen Corbett

Gloomy growth forecast adds to Rachel Reeves’ woes

Rachel Reeves Bank of England The Bank of England Andrew Bailey Paul Johnson Interest Rates
Chancellor of the Exchequer Rachel Reeves during a visit to Premier Modular in Driffield, Humberside. Picture date: Thursday January 30, 2025. - (PA Wire)

A gloomy growth forecast from the Bank of England has piled the pressure on Rachel Reeves ahead of a verdict from the Budget watchdog in March.

The Bank of England cut interest rates but halved its growth forecast in a decision a week after the Chancellor made a key speech on growth.

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