| Mervyn King set to slash UK growth forecasts |
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Bank of England governor Mervyn King is expected to slash growth forecasts for the UK in a further sign the recovery is under strain.
King, who will present the Bank's quarterly inflation report at 10.30am, is also expected to say inflation will spike later this year before easing in 2012. The report should bring some relief to millions of homeowners as it is likely to reinforce dwindling expectations of an imminent interest rate hike.
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