IMF release their latest outlook report
- US cut to 2.4% vs 2.6% prior 2016
- Eurozone cut to 1.5% vs 1.7% prior 2016
- China up to 6.5% vs 6.3% prior 2016
- Japan 0.5% vs 1.0% prior 2016
As usual there's a ton of info so I'll put the highlights together
- Says fragile world economy needs monetary stimulus
- Governments must prepare a collective reaction for recession
- Fed hikes should be smooth and gradual and well communicated
- BOJ should move to a more forecast based monetary policy
- ECB should keep monetary policy accommodation for an extended period and should be prepared to use other tools
- Sees further broad based reductions in their baseline growth forecasts for 2016 & 2017
- Slowing growth and reduced potential output will increase the risk of widespread stagnation and weaker growth
- Brexit would create severe regional and global damage
Ever the optimists eh?
