Bank of England expects zero growth in the UK economy in the second quarter

Posted by qianjiu on June 24th, 2019

The Bank of England’s Bank of England announced on the 20th that it will maintain its benchmark interest rate at 0.75%, while forecasting that the UK’s economic growth will stagnate in the second quarter and warned that the downside risks will intensify.

The Bank of England pointed out that in the past month, due to the intensification of global trade tensions and the possibility of “no agreement to leave the EU”, the downside risks to the UK's economic growth are increasing.

The Bank of England forecasts that the UK economy will grow at zero in the second quarter after a 0.5% quarter-on-quarter increase.

The Bank of England also said that the UK inflation rate may fall below 2% in the future, and the “Brexit” approach will have a “significant impact” on the UK economy.

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