Bank of England may need to keep rates higher for longer

The Bank of England may need to keep interest rates high for an extended period if inflation pressures persist, the International Monetary Fund's directors said on Tuesday.

"A continuous review of the pace and magnitude of monetary tightening is warranted," IMF directors said after a review of Britain's economy.

"Should inflationary pressures show signs of further persistence, the policy rate may have to be raised further and would need to remain higher for longer to durably lower inflation and keep inflation expectations anchored." (Reporting by David Milliken, Editing by Kylie MacLellan)