BoE cuts growth forecast amid 'intensifying' Brexit uncertainty

The BoE's Monetary Policy Committee (MPC) voted unanimously to maintain rates at 0.75% in its February meeting, with just 50 days to go until the UK leaves the European Union, amid slowing UK activity and a decelerating global economy. Although the minutes noted the need for higher rates in the future, the MPC cut UK growth forecasts to 1.2% this year, down from 1.7% predicted three months ago, the lowest since 2009 and the largest downgrade since the 2016 referendum, while 2020's growth forecast was slashed 0.2 percentage points to 1.5%. The minutes said: "Since the MPC's previous me...