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Oil and government bond yields slip after Bank of England forecasts

UK central bank’s weak outlook adds to broader concerns about prospects for global growth

Oil prices slipped to their lowest level since February, and government bond yields fell, as a pessimistic forecast from the Bank of England added to concerns about the global economic outlook.

Brent crude, the international oil benchmark, fell 2.8 per cent to $94.12 a barrel, bringing its declines for the week to more than 12 per cent.

The BoE on Thursday became the latest central bank to announce a bumper interest rate rise, lifting rates by 0.5 percentage points for the first time in 27 years.

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