Warning comes as Bank of England policymakers say price growth in service sector could become embeddedBusiness live – latest updatesThe UK faces the prospect of interest rates being higher for longer unless there is more progress in reducing service sector inflation, the International Monetary Fund has warned.While the Washington-based IMF nudged up its 2024 growth forecasts for the UK, it identified the stickiness of price growth in the service sector as a potential headache for the Bank of England. Continue reading...