Article 6FEHE UK interest rates will need to stay high into 2024, warns IMF

UK interest rates will need to stay high into 2024, warns IMF

by
Larry Elliott Economics editor
from Economics | The Guardian on (#6FEHE)

Britain faces fairly subdued' growth and persistent' inflation, global economic health check finds

The Bank of England will need to keep interest rates high into 2024 as the UK struggles with a combination of weaker growth and persistent inflation, the International Monetary Fund has warned.

In its half-yearly update on the global economy, the IMF said growth had already slowed fairly sharply" and painted a downbeat picture for the government as it enters what will almost certainly be an election year.

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