The Bank of England has slashed its 2012 growth forecasts for the UK economy, raised its near-term inflation outlook and issued a warning about the potential economic damage the eurozone sovereign debt crisis could inflict.   In its quarterly Inflation Report yesterday the Bank's Monetary Policy Committee lowered its estimate of economic growth over this year from 1.2 per cent to 0.8 per cent, bringing it slightly closer to the consensus of private sector economists.   The MPC also forecast that... ( read more )