UK Bank of England official Greene says economy growing faster than expected, supports rate hike

Bank of England Monetary Policy Committee member Megan Greene stated that UK economic growth is outpacing expectations and the labor market remains resilient, indicating that the central bank's efforts to curb inflation are still insufficient. Speaking at an International Monetary Fund conference in Bangkok to the Atlantic Council, Greene said interest rates should be higher than the current 3.75% level and warned colleagues not to rely on markets to tighten financial conditions. The IMF had previously raised its forecast for the UK's economic growth this year from 1% to 1.3%.