The International Monetary Fund (IMF) on Wednesday lowered its 2019 growth forecasts for the Asian economy to 5% from 5.4% projection made in April.
The Fund has also revised the 2020 growth forecast lower to 5.1% from 5.4%.
The global economy’s growth rate is seen cooling to 3% – the weakest since 2008 – down from 3.2% in a July forecast.
The downward revision of the Asian growth forecasts could bode well for the anti-risk assets like Japanese Yen and Gold.
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