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Euro area slump prompts BOE to cut growth forecasts

UK inflation rate falls below BOE target; policymakers now see it continuing to decline in the short term

London

THE Bank of England (BOE) has cut its forecasts for growth and said inflation could fall below one per cent in months as a renewed slump in the euro area weighs on the UK economy.

In its Inflation Report published on Wednesday, policymakers led by BOE governor Mark Carney