News about British pound

NEW IMF recommending 7 (seven) rate cuts for Bank of England by end 2025 which would take base rates down to 4.5% by end this year and 3.5% by end of next year, as part of its Article IV health check of UK economy… part of “soft landing” it says UK on course for. pic.twitter.com/PdAQR5W2mu

Golly Massive shift in market-based probabilities of @bankofengland interest rate cut at the next meeting (June) following this morning’s higher-than-expected inflation data. Chances of a cut in June down from around 50% to only 15%… Aug cut no longer priced in… pic.twitter.com/c6j9j51D5B

💥Another UK economic data miss: services PMI comes in worse than any economist polled by Reuters expected. Bad timing for Rishi Sunak, even if the index is still handily above the 50 growth threshold.

💥IMF bumps up UK GDP forecast for this year to +0.7% But... it's critical of UK economic policy. Warns against further tax cuts given tough fiscal outlook and IMF says it wouldn't have cut NICs as Hunt did. Says spending plans don't reflect future pressures.