ECONOMY'S FLATLINING

>> No growth in 2024 says central bank >> High rates of interest to persist to '25

- BEN GLAZE

GROWTH forecasts have been slashed and experts now fear the cost of living crisis will deepen as the economy flatlines next year.

The Bank of England has kept interest rates at a 15-year high of 5.25%, as expected, but the Monetary Policy Committee expects 0% growth in 2024, down from the 0.5% increase predicted in its August report.

This year's outlook remained the same, with gross domestic product expected to grow by just 0.5%.

Chancellor Jeremy Hunt, who is due to deliver his Autumn Statement mini-Budget on November 22, claimed: "The UK has been far more resilient than many expected"