The International Monetary Fund on Tuesday said the global economic recovery is continuing, but the momentum has weakened due the resurgence of the Covid-19 pandemic triggered by the Delta variant.
In its latest World Economic Outlook report, the global lender retained its 4.9 percent global growth projection for next year, while it lowered the forecast for this year to 5.9 percent from 6.0 percent predicted in July.
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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.