London: The IMF has also urged the Bank of England to be cautious about raising interest rates.
With Brexit uncertainty hanging over the economy like a fog, the BoE should show flexibility, it argues:
In the United Kingdom, where the output gap is closed and unemployment is low, a modest tightening of monetary policy may be warranted, although at a time of heightened uncertainty, monetary policy should remain flexible in response to changing conditions associated with the Brexit negotiations.