UK boost from leaked IMF report

MARKET NEWS

WASHINGTON DC -- The UK will largely escape the effects of the global economic slowdown, a leaked International Monetary Fund report said last week.

The IMF trimmed its UK economic growth forecast for this year from 2.8% to 2.6% -- a much smaller revision than that for its growth forecasts for the eurozone, which was downgraded to 2.4% from 3.4%.

Analysts hailed the report as a boost for the UK government and the Bank of England.

"The Bank of England has been very proactive on monetary policy