BOE Cuts Rate to 0.25%, Adds QE to Combat Brexit

The Bank of England has implemented its first rate cut since 2009, reducing the rate to 0.25% and expanding quantitative easing by £60 billion. The Monetary Policy Committee (MPC) anticipates further rate cuts to near zero by year-end. The Bank also plans to initiate a corporate bond buying program. Market reactions include a drop in 10-year gilt yields and a decrease in the cable rate. The Bank has revised its growth forecast for 2018 down to 1.8% and adjusted inflation expectations, predicting an overshoot of the 2% target. These changes reflect upside risks to inflation and downside risks to growth.

What was the previous growth forecast for 2018 before it was downgraded by the Bank of England?

What are the inflation forecasts for Q3 2017 as per the Bank of England?