Growth down, unemployment up... but no more rate cuts - yet: Blow to Reeves as Bank slashes economic forecasts but leaves borrowing costs on hold

The Bank of England has forecast a sharp growth slowdown and rise in unemployment as it left interest rates on hold in a blow to Chancellor Rachel Reeves.

  Economy   Feb 5, 2026   0   16  Add to Reading List
Growth down, unemployment up... but no more rate cuts - yet: Blow to Reeves as Bank slashes economic forecasts but leaves borrowing costs on hold
The Bank of England has forecast a sharp growth slowdown and rise in unemployment as it left interest rates on hold in a blow to Chancellor Rachel Reeves.
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