IMF warns UK government as pound resumes fall
BoE’s Huw Pill signals need for “significant monetary policy response” to government spending plan
The International Monetary Fund has issued rare criticism of the UK government, warning against “large and untargeted fiscal packages”.
The statement, issued late on September 27, sent the pound down against the dollar in early trading today (September 28). Sterling was down around 0.7% at 8am UK time.
The IMF said it was “closely monitoring” recent developments in the UK, and acknowledged the government’s package was intended to help families and businesses cope with higher energy prices.
“H
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