The National Institute for Economic and Social Research lowered the UK's economic growth forecast for 2018 to 1.4% from the previously expected 1.8% rise after a weak GDP growth in the first quarter - just 0.1%. NIERS economist, Amit Kara, said that it was not yet clear whether this had been a temporary slowdown. According to the estimates of the Bank of England, the British economy this year will grow by 1.8%. However, according to Kara, the uncertainty that has arisen may postpone the interest rate increase this week by the regulator, and then the Bank of England will raise rates every 6 months. NIERS expects a quarterly growth of an average of 0.4%.
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