Three things we've learnt about the UK economy from the IMF
Source: BBC ·
The influential economics body has upgraded its UK growth forecast for this year, but risks remain.
From the source
Countries around the world have had their future economic prospects assessed by influential body, the International Monetary Fund (IMF). What the IMF says matters - it aims to keep the global economy stable and its twice-yearly forecasts are one of the most authoritative looks at what is really going on around the world. Yet like all forecasts they can also turn out to be incorrect, so they shouldn't be treated as gospel. Here are three things we've learnt about the UK from the IMF's latest report. 1. We're weathering the Iran war better than expected The global economy has been rocked by the US-Israel war with Iran. The transportation and production of energy in the Middle East has been severely disrupted, causing oil prices to jump and inflation to rise. To calm the rate of price rises, central banks, including the Bank of England, are expected to hike interest rates in the coming months. Despite all this, the IMF said the global economy is doing much better than expected, partly…