IMF urges UK to withdraw ‘exceptional’ monetary policy

Bank of England blue sky

The International Monetary Fund has urged the Bank of England to start withdrawing the “exceptional” monetary easing measures it launched in response to Covid-19.

In its annual analysis of the UK economy, the fund said a “rotation” of policies away from stimulus was necessary to “to support a strong non-inflationary recovery”. “Monetary policy needs to withdraw the exceptional support provided during 2020–21,” the IMF said in its Article IV statement.

Though fund staff acknowledged there were

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