Bank of England may be forced to cut interest rates

In a surprise statement, the Bank of England may be forced to cut interest rates further, rather than raise them, to combat low inflation. Chief Economist, Andy Haldane, says softening employment figures and weak manufacturing and construction data suggests UK growth could slow in the second half of the year. He also sighted problems in emerging markets having a possible drag on UK growth, ruling out an expected rate hike anytime soon. UK interest rates have been held at a record low of just 0.5% for more than six years.