The IMF has “flip-flopped” over the prospects for the economy over the past year, first predicting a recession this year as the Bank of England raised interest rates to combat rising inflation, then praising the efforts of the Treasury and Jeremy Hunt in avoiding the temptation to cut taxes to provide a much-needed boost to the economy and setting the nation on a more solid path.Now they have again decided that the country is likely to face little or no growth over the next year as the Bank is again forced to hike interest rates to battle what it calls persistent inflation.In the latest edition of its World Economic Outlook the Fund predicts that the UK economy will fall behind its G7 partners in terms of growth which will form a “painful backdrop” to the General Election.Headline inflation is predicted to average 7.7% this year before falling to average 3.7% next year, it won’t return to the Bank’s target of 2% until 2025 at the earliest and even then a lot will depend on the global economic situation which has become a great deal more volatile as economies have emerged from the Pandemic at differing rates.Jeremy Hunt intimated his mistrust of the continual changing of predicted performance since little has changed in the Government’s plans since he was praised for the changes, he started in the Spring Budget.Beyond Currency Market Commentary:Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.