Britain looks set for two more interest rate cuts this year to boost the economy as it lags behind Donald Trump's America, according to a leading global watchdog.
In a report on Tuesday, the International Monetary Fund (IMF) said it expects rates to drop from the current 4.25 per cent to 3.75 per cent by Christmas.
It came as the fund warned Labour's pledge to make Britain the fastest growing economy in the G7 is in tatters in the wake of the Chancellor's tax hikes.
EU members of the group are faring even worse – compounding the bloc's misery as it reels from a lopsided trade deal with the US that has left it with worse terms than Brexit Britain.
Germany, France and Italy, as well as Japan, will all grow less than the UK over the next two years, according to the IMF.
