The Bank of England on Wednesday cut its forecast for economic growth and warned inflation is likely to slump in coming months, a downbeat assessment of Britain's recovery from its worst recession in decades.
Governor Mervyn King left the door wide open for the central bank's asset purchasing program to boost the money supply, saying that "it's far too soon to conclude that no more purchases will be needed."
The bank's Monetary Policy Committee froze its 200 billion pound ($310 billion) quantitative easing program earlier this month, but King said the committee "would keep its options open" as the British economy continued "to bump …
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