London, UK (SANEPR.com) May 2, 2008 -- In the year 2007 the economy grew by 2.5 percent, and the office for national statistics revealed that in the first quarter the gross domestic product rose 0.4 percent, against the lowest since 2005.
According to Merrill Lynch & Co economist Nick Bate, "Although UK is not in recession but the economy is slow and that the threat of inflation is high." It will likely to result in further cuts in interest rates by the BoE.
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