UK Growth targets hit again as 'big squeeze’ goes on

From telegraph.co.uk

The Bank of England will cut its growth forecasts this week and warn that the squeeze on family finances will last longer than expected in a prediction likely to douse recent hopes that the UK was heading back to recovery. In its three-monthly Inflation Report, the Bank will warn that inflation will remain above the 2pc target until early 2015 but that the economy is too weak to cope with any attempt to bring prices back under control, through either interest rate rises or an unwinding of its £375bn quantitative easing (QE) programme. It will also say that the pace of growth will be slow and that, although the major ... (full story)