IMF urges Bank of England to act on inflation concerns

Expected to hit 5.5% next year

clock • 2 min read
MPC's next meeting is on 16 December
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MPC's next meeting is on 16 December

The International Monetary Fund (IMF) has warned the Bank of England against having to face “inaction bias” ahead of stronger-than-expected inflation, urging the bank to begin raising rates before inflation reaches a projected 5.5% in the spring.

According to the IMF's annual review of the economy, the country's recovery from the coronavirus pandemic has been far stronger than expected, despite the fact the new Omicron variant will likely cause...

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