The International Monetary Fund on Tuesday slashed the global growth forecast for this year, citing the trade tensions, weaker business confidence, tighter financial conditions and higher policy uncertainty.
The Washington-based global lender cut the growth forecast for this year to 3.3 percent in its latest World Economic Outlook, or WEO, which is released twice a year.
In a January update to the WEO, the IMF had predicted 3.5 percent, which was lower than 3.7 percent seen in the October report. The growth momentum is expected to gain steam in the second half of this year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.