Another leading business lobby group today cut its growth forecast for the UK economy to well below the government's predictions. The Confederation of British Industry said it is slashing its 2005 GDP forecast to 1.9 pct from the previous estimate of 2.5 pct. This is well below the Treasury's budget projection of growth between 3.0-3.5 pct and echoes a similar cut yesterday from the British Chambers of Commerce. The CBI said the last time its prediction for growth dipped below 1.9 pct was in 1992, when the UK was emerging from its last major recession. Ian McCafferty, the CBI's chief economist, said the loss of momentum is likely to be enough to hold off inflation in the face of sky-high oil prices and that means interest rates may well stay unchanged through to 2006. For 2006, the CBI sees overall growth picking up to 2.2 pct, in line with its prediction for growth of household consumption. Elsewhere, the CBI continues to predict there will be pressure on the public finances when the next economic cycle begins