British central bank cuts 2013 growth forecast to 1% (2)

Central bank Governor Mervyn King hailed the upbeat job figures in a news briefing, but said that did not change the whole weak picture.

"Growth in the July-September period was boosted by one-off factors and gave an overly optimistic impression of the underlying trend," he commented on the one-percent rebound of GDP growth in the third quarter.

"Continuing the recent zig-zag pattern, output growth is likely to fall back sharply in Q4 as the boost from the Olympics in the summer is reversed. Indeed, output may shrink a little this quarter," he said.

Commenting on whether there would be further quantitative easing policies, King did not rule out the possibility, adding that the central bank had not "lost faith" in asset purchases as a policy instrument.

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