EFTA Document EFTA01459621

5 February 2016 Focus Europe: Dark clouds, no storm yet and a resilient financial system. Indeed, in comments to Radio 5's Wake Up To Money programme BoE Deputy Governor Broadbent said that it was important not to over-emphasise the reduction in the Bank's growth forecasts which he described as not being a large revision; rather, he focused on the supportive fall in oil prices and continued expectations for robust growth in Europe. !Figure 3: Near • tern growth revised down by up to 0.4pp