- Bonuses and Promotions
The Bank of England lowered its GDP growth forecast for 2019 to 1.2% from 1.7% in the previous forecast, the regulator said.
In 2020, the growth of the country's economy is now expected to be at the level of 1.5%, compared to the previous growth estimate of 1.7%. The regulator also improved the forecast for GDP growth for 2021 - up to 1.9% from 1.7%.
"Apparently, GDP growth slowed down at the end of 2018 and is expected to remain modest in the near future. GDP growth was affected by a decline in investment and trade ... which partly reflects the increased uncertainty around Brexit and the slowdown in global (economic) .) growth ", - said the regulator.
The Bank of England also expects UK inflation to fall below the target of 2% in the coming months, mainly due to slower growth in energy prices. However, the regulator predicts that the indicator will then rise again and in 2020 will consolidate above the level of 2% against the background of rising domestic inflationary pressure.
The Bank of England on the basis of the meeting on Thursday decided to maintain the base interest rate at 0.75%. He also confirmed the volume of the repurchase of assets from the market at 435 billion pounds, as expected.