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The BOE cuts its GDP and inflation outlook, saying the U.K. economy will return to Y/Y growth...

The BOE cuts its GDP and inflation outlook, saying the U.K. economy will return to Y/Y growth later this year and end 2012 at almost 1%. The BOE forecasts 2013 at +2% vs. +2.5% prior. The bank expects inflation to finally fall to its 2% target in Q3 2013, later than previously predicted, and to stay at that level until mid-2015. (Inflation report)
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