February 22, 2017 / 12:29 PM / in 8 months

Bank of England's Shafik sticks with 2017 growth forecast

LONDON, Feb 22 (Reuters) - Bank of England Deputy Governor Minouche Shafik said British economic growth of 2 percent this year remained the central bank’s best estimate, despite official figures earlier on Wednesday showing the economy grew less than thought last year.

Answering questions from media and the public on social media platform Twitter, Shafik said: “2 percent is our best estimate for now”.

Earlier on Wednesday Britain’s Office for National Statistics revised down its estimate for growth in 2016 to 1.8 percent from 2.0 percent, though it revised up its estimate of growth in the final three months of the year.

Shafik later said there was uncertainty around central bank forecasts, and also said low interest rates could be one factor behind Britain’s weak rate of underlying productivity growth. (Reporting by David Milliken, editing by William Schomberg)

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