IMF: UK will be fastest growing G7 economy this year

But long-term Brexit implications on horizon

The International Monetary Fund (IMF) has predicted the United Kingdom will see stronger economic growth than any of its peers in the G7 this year, despite previously warning Brexit could cause a recession in the country.

The IMF, based in Washington DC, said Britain will have a "soft landing" following June's shock Brexit vote, with growth reaching 1.8% this year. However, it predicted the UK will begin to feel the implications of the referendum vote next year, downgrading its forecast for economic expansion to just 1.1%. According to The Guardian, Maurice Obstfeld, the IMF's economic counsellor said: "We are looking at a soft landing for 2016. We are happy about the outcome." Why UK investors should beware ‘Brexit blindness' His comments came after sterling hit a 31 year-low against the US doll...