Three more UK interest rate cuts this year, predicts IMF

The Bank of England could cut interest rates three more times this year, as the UK grapples with higher-than-expected inflation, the International Monetary Fund (IMF) has said.
The organisation predicted UK inflation will be the highest in the world’s advanced economies this year at 3.1%, largely due to higher bills, including for energy and water.
The fund also said the UK economy will grow less than previously predicted, up 1.1% in 2025 instead of 1.6%, due to the global fallout from US trade tariffs.
The report comes as top economic policymakers meet in Washington this week at the IMF’s spring gathering.
The downgrade in the outlook for the UK economy is nevertheless ahead of predictions for France, Italy and Germany.

Source: BBC | Language: English