British central bank cuts 2013 growth forecast to 1%

LONDON, Nov. 14 (Xinhua) -- Bank of England, Britain's central bank, on Wednesday halved its forecast for the country's economic growth in 2013 to one percent from a previous prediction of two percent in August.

In its latest quarterly Inflation Report, the Bank said Britain's economic recovery would remain "slow and protracted" in a zig-zag pattern, and output would remain below pre-financial crisis levels for the next three years, mainly due to global economic fragility and eurozone problems.

It also expected that Britain's inflation rate to fall back to the target of 2 percent by the second half of next year, instead of in the first half of 2013 as previously thought.

On the same day, official data showed Britain's unemployment rate in the July-September period dropped to 7.8 percent from the 8 percent of the previous three months.

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