IMF Downgrades UK Growth Forecasts

The IMF has cut its UK economic growth forecast, blaming Brexit uncertainty.The Fund expects growth of 1.6% this year, down slightly from its previous forecast of 1.7%. It expects growth to slow further next year, to 1.5%.IMF chief Christine Lagarde said uncertainty over the Brexit deal was causing UK firms to delay investment plans.She also said rising inflation, caused by the fall in the pound, and stagnant wages were squeezing spending power.

Source: IMF downgrades UK growth forecast on Brexit uncertainty – BBC News

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.