Wed. Sep 30th, 2020

EC: UK to grow faster than eurozone in 2019 and 2020 – business live

Rolling coverage of the latest economic and financial news

Earlier:

11.46am GMT

We’ll hear the Bank of England’s own assessment of the UK economy in 15 minutes, when it publishes its latest forecasts – and its interest rate decision (probably no change).

Heads Up: GBP Bank of England Bank Rate (NOV 7) due at 12:00 GMT (15min),
Actual: N/A
Expected: 0.75%
Previous: 0.75%https://t.co/HxumIc1lar

11.43am GMT

Here’s Associated Press’s take on the new EC growth forecasts:

The European Union’s executive branch has cut its growth forecasts for the 19-country eurozone for this year and next.

The European Commission said Thursday that the single currency bloc is expected to grow 1.1% this year, down 0.1 percentage point from the previous forecast. And next year, growth is expected to be 0.2 percentage point lower than previously estimated 1.2%. Growth in 2021 is also expected at 1.2%.

Continue reading…Rolling coverage of the latest economic and financial newsLatest: EC lowers growth forecasts as headwinds riseEurozone growth forecast at 1.1% this year, 1.2% in 2020UK tipped to grow 1.3% in 2019, 1.4% in 2020Earlier:European markets boosted by trade hopesChina and US ‘agree to roll back tariffsGerman factory output falls again 11.46am GMTWe’ll hear the Bank of England’s own assessment of the UK economy in 15 minutes, when it publishes its latest forecasts – and its interest rate decision (probably no change).Heads Up: GBP Bank of England Bank Rate (NOV 7) due at 12:00 GMT (15min),Actual: N/AExpected: 0.75%Previous: 0.75%https://t.co/HxumIc1lar 11.43am GMTHere’s Associated Press’s take on the new EC growth forecasts:The European Union’s executive branch has cut its growth forecasts for the 19-country eurozone for this year and next. The European Commission said Thursday that the single currency bloc is expected to grow 1.1% this year, down 0.1 percentage point from the previous forecast. And next year, growth is expected to be 0.2 percentage point lower than previously estimated 1.2%. Growth in 2021 is also expected at 1.2%. Continue reading…

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