LONDON: The Bank of England on Thursday cut its UK growth forecasts with governor Mark Carney warning that high inflation triggered by a Brexit-fuelled slump in the pound had hurt consumer spending.
His warning, coming after the BoE left its key interest rate at a record-low 0.25 percent at a regular policy meeting this week, sent the pound tumbling to a nine-month low against the euro, as policymakers appeared to shift away from raising borrowing costs any time soon.
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