© Reuters. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville
By Sruthi Shankar
(Reuters) -The UK’s main stock indexes slipped on Tuesday, as investors braced for a series of interest rate hikes from major central banks this week, while the IMF’s warning about Britain’s economic outlook added to the downbeat sentiment.
The blue-chip slipped 0.7%, with economically sensitive energy, banks and mining stocks leading losses.
Britain is the only Group of Seven nation to have suffered a cut to its 2023 economic growth outlook in International Monetary Fund (IMF) forecasts published earlier in the day, adding to pressure on Finance Minister Jeremy Hunt to come up with a growth plan.
The economy looks set to shrink by 0.6% this year, a sharp downgrade from IMF’s previous forecast of 0.3% growth.
Traders are betting on an 80% chance of a 50 basis point rate hike by the Bank of England on Thursday in what would be its 10th consecutive move.
“Despite the gloomy IMF forecasts, I think the Bank of…
