IMF Raises UK Growth Forecast; Kingfisher Names New CEO

The International Monetary Fund (IMF) has raised its growth forecast for the UK economy, a development being interpreted as a boost for the chancellor ahead of key fiscal decisions. The IMF, which regularly assesses the economic prospects of countries around the world, now expects UK growth to be stronger than it had previously predicted, a judgement that is likely to be welcomed by the Treasury.

The update came as part of wider rolling coverage of economic and financial news, which also touched on issues such as oil prices and inflation. A more optimistic growth outlook can influence investor sentiment and public confidence, and is often viewed by governments as supportive evidence for their economic policies, particularly when fiscal plans are under scrutiny.

In a separate development within the same coverage, Kingfisher, the parent company of DIY retailer B&Q, announced that it has appointed Sebastian Gundel as its new chief executive. Gundel, who most recently served as chief executive of OBI, a German home improvement retailer, will take up his new role at Kingfisher on 1 February 2027.

His appointment marks a leadership transition for Kingfisher, which operates in the home improvement retail sector across multiple markets. Gundel's background at OBI, a company that competes in a similar segment of the retail industry in Germany, is likely to be viewed as relevant experience for steering Kingfisher's operations, including its flagship B&Q brand.

While the two stories, the IMF's growth forecast and Kingfisher's leadership change, are unrelated, both were reported together as part of a broader live blog tracking developments across the UK economy and corporate sector on the same day. The timing of Gundel's start date, more than a year away, suggests a lengthy transition period has been planned for the change in leadership at Kingfisher.