International Monetary Fund (IMF) Chief Economist Pierre-Olivier Gourinchas said on Friday the Bank of England (BoE) is likely to maintain a steady course of monetary easing this year, with expectations of a rate cut each quarter.

The financial agency projected Britain's economic growth to reach 1.6% in 2025 and 1.5% in 2026.

"We see a modest increase in growth," Gourinchas said during the press conference, attributing that growth to continued monetary easing, with additional rate cuts expected to further strengthen consumption growth this year.