Gloomy UK central bank sees outlook darken

By David Milliken and Sven Egenter

LONDON | Tue Jun 26, 2012

(Reuters) – Britain’s economic outlook has worsened markedly in the space of just six weeks due to the deepening euro zone crisis and signs that a global slowdown is taking root in the United States and emerging markets, the Bank of England said on Tuesday.

BoE Governor Mervyn King told legislators the world is not yet halfway through the financial crisis that began in 2008, and that Britain risked a downward spiral as businesses continue to put off investment due to the turmoil in the euro zone.

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