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Market forecasts steep UK slowdown resulting in rate cut

DOWNSIZING: Lloyds Bank reported that it will cut 3,000 more jobs and close 200 branches as it struggles to protect its profits amid lower interest rates, and business and consumer uncertainty after Brexit.


PRELIMINARY surveys indicating that the UK economy is slowing down sharply point to a cut in interest rates and possible quantitative easing (QE) next week, predict economists and market participants.

As a result, sterling weakened against the US dollar and euro and 10-year