The Bank of England should cut interest rates two or possibly three times this year, according to the International Monetary Fund (IMF). The Washington-based organisation warned over “delays” to the Bank of England cutting interest rates, suggesting that the level needs to be up to 0.75 percentage points lower by the end of the year. To achieve this, it recommended two or three cuts to bring the current rate of 5.25% to either 4.75% or 4.5% by the end of the year. Despite the recommendation, the IMF noted the Bank had to balance the risk of cutting too quickly before inflation is under control, against that of keeping rates too high, which could hit growth. “Keeping Bank Rate constant as inflation and inflation expectations fall would raise ex-post real rates, which could stall or even reverse the recovery, and lead to an extended undershooting of the inflation target,” the IMF said in its Article IV report. Read more: Trending tickers: Trump Media, Palo Alto, AstraZeneca and Kingfisher While inflation is expected to fall close to the Bank of England's target of 2% on Wednesday, it is then set to rise a little over the course of the rest of the...