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  • Writer's pictureRCS Ottawa

IMF upgrades UK forecast but notes Brexit terms are 'unsettled'

The International Monetary Fund has upgraded its forecasts for the UK economy this year after the latest signs that businesses and consumers have shrugged off the Brexit vote.

Unveiling its new forecasts on the eve of a key speech by Theresa May on the Brexit process, the Washington-based fund also cut the outlook for 2018, reflecting widespread uncertainty over Britain’s future outside the EU.

The IMF forecast that the UK will grow by 1.5% this year, up from a previous estimate of 1.1%. However, 2018 expectations were revised down from 1.7% to 1.4%. Full Story

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