IMF lowers UK's growth forecast for 2012

The International Monetary Fund (IMF) has significantly lowered its UK growth forecast for 2012 to 0.2% and warned the risks from the eurozone debt crisis continue to "loom large".

Its forecast was reduced from 0.8% just three months ago, reflecting the UK's slide into a double-dip recession in the first quarter of the year and the gloomier outlook for the world economy.