British Growth Cut to Zero

The Bank of England has predicted that the British economy will not grow in 2012 after predicting 0.8 percent growth a few months ago.

The Bank of England will slash its growth forecasts close to zero tomorrow as the double-dip recession deepens and the eurozone storm closes in on UK shores.

Governor Sir Mervyn King is expected to indicate no growth for 2012 in the Bank's quarterly inflation report, compared with 0.8 per cent predicted three months ago and 2 per cent a year ago.