What should we do now, other than what we have achieved? 3. The role of securities investment "Austerity has failed and will only continue to undermine our economy in the brexit negotiations," he added. The international monetary fund cut its growth forecast for the UK to 1.6 per cent this year from 1.7 per cent in October and is expected to grow by 1.5 per cent in 2018. ^ h h, however, interest rates are still significantly lower than in November 2015, when an average of 2.62 PC.