UK interest rates set to be cut by Bank of England on Thursday

Bank will publish latest inflation report and growth forecasts this week, as downgrade of Britain’s economic prospects is expected

The Bank of England is expected to cut interest rates for the first time since the financial crisis this week and lower its UK growth forecasts by the biggest margin on record in response to the uncertainty caused by the EU referendum result.

The Bank’s monetary policy committee will announce a decision on Thursday, when the latest inflation report and growth forecasts will be published. If interest rates are cut, it will be the first time they have changed since being set at 0.5% in 2009.

Related: Interest rate cut: what will it mean for the UK economy?

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Read the original at Economics | The Guardian.