| And here’s another view on the IMF’s latest pronouncements, from Capital Economics. The research company’s Michael Pearce said: After spending the run-up to the UK’s EU referendum warning that Brexit would cause “severe regional and global damage”, the IMF all but admitted on Tuesday that it had been bluffing, forecasting that the impact would be largely benign after all.
The IMF downgraded its forecasts for global growth this year and next by just 0.1 percentage point, to 3.1% and 3.4% respectively. The biggest downward revision was of course to the UK, which the Fund now expects to grow by just 1.3% in 2017, almost a percentage point slower than its previous forecast...............................................Full Article: Source
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