Mervyn King, the governor of the Bank of England, has warned that the UK economy faces a "choppy recovery" over the next two years.
His warning came as the Bank lowered its economic growth forecast, and said inflation would stay higher for longer than previously forecast.
The Bank now expects the economy to grow about 2.5% in 2011, down from its previous forecast of around 3.4%.
It added that a lack of bank lending would limit economic growth.
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