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epa03350136 (FILE) A file photo dated 14 February 2012 showing a close up of the Bank of England sign in London, Britain. The Bank of England (BoE) on 08 August 2012 slashed its growth forecast for the year 2012 to zero, citing the ongoing uncertainty in eurozone economies as the main reason for the bleak outlook. In its quarterly inflation report, the central bank also said that tough lending conditions and government austerity measures continued to hamper growth. The bank's adjustment from a May forecast of 0.8 per cent growth for 2012 had been widely expected, following negative growth figures over the last three quarters. EPA/FACUNDO ARRIZABALAGA *** Local Caption *** 50216872