IMF warning comes as Bank of England policymakers say price growth in service sector could become embedded
The global economy faces the prospect of interest rates being higher for longer unless there is more progress in reducing service sector inflation, the International Monetary Fund has warned.
While the Washington-based IMF nudged up its 2024 growth forecasts for the UK and the eurozone, it identified the stickiness of price growth in the service sector as a potential headache for central banks.
Continue reading…IMF warning comes as Bank of England policymakers say price growth in service sector could become embeddedBusiness live – latest updatesThe global economy faces the prospect of interest rates being higher for longer unless there is more progress in reducing service sector inflation, the International Monetary Fund has warned.While the Washington-based IMF nudged up its 2024 growth forecasts for the UK and the eurozone, it identified the stickiness of price growth in the service sector as a potential headache for central banks. Continue reading…