Bank of England cuts UK economic growth forecast

[Iron]

http://www.bbc.co.uk/news/business-14472805

But there is some good news: 'the Bank still expects inflation to fall next year'. I hope that Mr King is right, but excuse me for being a tad sceptical...

Jeff

[Iron]

PS Robert Peston has tweeted:

'King: we expect a gradual recovery...it will be slow. The squeeze on household incomes should come to an end next year.'

Well, that is a relief!

Jeff

[superfrank]

I wish MK would resign and become a racing tipster - we'd all make fortune laying them.

[Iron]

I don't know if Gideon has returned from his trip to LA, but I'll be interested to hear what he says about King's forecasts. Surely he must accept that further spending cuts are now needed, if he's going to meet his debt reduction targets...

Jeff