Pound surges to four-month high but FTSE 100 tumbles as UK heads to the polls – business live


Sterling has rallied strongly as analysts predict Theresa May will secure a larger majority in the June 8 general election

2.50pm BST

The International Monetary Fund has just got Theresa May’s election campaign off to a good start, by hiking their UK growth forecasts.

The IMF now expects Britain’s GDP to expand by 2% this year, up from 1.5% back in January and just 1.,1% last year, outperforming almost every other advanced economy.

“The global economy seems to be gaining momentum – we could be at a turning point.

“But even as things look up, the post–world war two system of international economic relations is under severe strain despite the aggregate benefits it has delivered – and precisely because growth and the resulting economic adjustments have too often entailed unequal rewards and costs within countries.”

Related: IMF ratchets up UK economic growth forecast to 2%

2.26pm BST

Share prices in London are suffering further losses.

The FTSE 100 is now down 151 points, or 2%, at 7175, putting it firmly on track for its worst one-day performance since the Brexit vote.

Continue reading…

Click to view the original article on The Guardian.

Previous articleMarvel Heroes Omega Beta Date Announced for PS4
Covering American and international news for an online, global audience.Our team of US-based journalists is most recently renowned for its Pulitzer Prize-winning revelations based on the disclosures made by whistleblower Edward Snowden.


Please enter your comment!
Please enter your name here