UK economy will be among hardest hit by global trade war, IMF warns

News Snapshot:

Britain's economy will be among the hardest hit by the global trade war and inflation is set to climb, the International Monetary Fund (IMF) has warned – as it slashed its UK growth forecast by a third. In a sobering set of projections, the Washington-based organisation said it was grappling with "extremely high levels of policy uncertainty" - and the global economy would slow even if countries manage to negotiate a permanent reduction in tariffs from the US. Echoing earlier warnings about the risks to the global financial system, the IMF said stock markets could fall even more sharply than...