UK Will Beat IMF’s Dismal Growth Forecasts, Chancellor Hunt Says

Speaking at IMF, Hunt, Bailey emphasize stability is paramount
Bailey warns QT to end when banks hit liquidity ‘resistance’

WATCH: UK Chancellor of the Exchequer Jeremy Hunt discusses the state of the economy, the UK’s relations with the EU and trade with the US.Source: Bloomberg

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By Philip Aldrick

April 13, 2023 at 1:14 AM UTC

This article is for subscribers only.

The UK economy will do “significantly better” than the International Monetary Fund’s bleak outlook over the coming 24 months, Chancellor of the Exchequer Jeremy Hunt said Wednesday, potentially setting the government up for an election next spring.

In a week that began with the IMF warning about slow global growth and sticky inflation, Hunt rejected the IMF’s forecast for the UK to shrink 0.3% this year and expand just 1% in 2024. At the same time, Bank of England Governor Andrew Bailey said he would not be distracted from the battle against inflation by the risk of further banking turmoil.