IMF urges UK to cut interest rates

The advice followed an annual assessment of the UK government's plan to cut its deficit, deemed "essential" by the IMF, according to the BBC. The IMF praised the UK for making "substantial progress" towards a more sustainable budgetary position and reducing fiscal risks. It alluded to the UK's "global importance" and said its economic policies had helped build capital buffers and strengthen domestic regulation. However, the assessment warned that, although monetary stimulus has benefitted the economy, the overall outlook remains weak. The body urged the Bank of England to reassess whe...