The British economy will avoid falling into recession this year, according to upgraded growth forecasts Tuesday from the International Monetary Fund. In its latest assessment of the U.K. economy, the Washington-based fund said domestic demand had proven more resilient than anticipated in the face of the surge in energy costs. The IMF now thinks the British economy will grow by 0.4% this year, up from its previous prediction of a 0.3% decline. The forecast aligns with that from the Bank of England, which also upgraded its economic outlook this month. However, the IMF said inflation is likely to remain stubbornly high ... (full story)