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Bank of America has lowered its economic growth forecast for the UK in 2025 to 1.1%.
Jin10 data, April 22 - Bank of America analysts said in a report that due to concerns about the impact of U.S. tariffs on the UK economy, they have downgraded the UK's economic growth forecast for 2025 from the previous 1.4% to 1.1%, and the 2026 UK economic growth forecast from the previous 1.4% to 1.3%. Bank of America stated: "The direct impact of the announced tariffs on economic growth could be 20 to 25 basis points." In addition, analysts said that "high uncertainty, weak confidence, and a slowdown in global economic growth" could have indirect effects.