UK economy set for worst year since financial crisis, says Bank of England

Bank cuts growth forecast for 2019 as Brexit worries spread from companies to consumers

The Bank of England has warned the economy is on course for its weakest year since the global financial crisis, as evidence suggests Brexit jitters are spreading from companies to consumers.

In its latest quarterly health check, the Bank cut its growth forecast for 2019 from 1.7% to 1.2%, blaming a slowing global economy as well as Brexit uncertainty for the sharp downward revision, and said there was a 25% chance of a recession this year.

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