General view of the City of London skyline, the capital's financial district, in October.
LONDON — The International Monetary Fund on Tuesday raised its 2024 growth outlook for the United Kingdom, saying declines in interest rates and inflation would boost domestic demand.
The IMF now sees 1.1% growth for the U.K. economy this year, up from a July forecast of 0.7%.
Inflation in the U.K. came in at 1.7% in September, a decline from 11.1% in October 2022.
Economic growth has been tepid so far this year, coming in at 0.2% in August after flatlining in June and July.
Persons:
flatlining
Organizations:
LONDON, Monetary Fund, IMF, Bank of England
Locations:
London, United Kingdom