8 August 2012 Updated at 06:06 ET
Bank cuts growth forecast close to zero
Sir Mervyn King said the UK had been affected by the 'storm' in the eurozone
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The Bank of England has cut its growth forecast to close to zero from the 0.8% predicted in May, as the double-dip recession intensifies.
link-
http://www.bbc.co.uk/news/business-19174649