Economy: Interest rates cut, but growth forecast slashed

The cut to the base lending rate from the Bank of England was expected. It’s now down to 4.5 per cent from 4.75.

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What wasn’t expected was its gloomy forecast for growth, meaning we could be skirting very close to recession right now.

And there’s a warning of a nasty surprise with inflation.

We’ve been in Bristol hearing from a small business about how confident they’re feeling about the economy.