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The International Monetary Fund has published updated  forecasts for the global economy. It downgraded the global forecast to 3.8% from 3.5% just back in  October.

But for the world’s No. 1 economy, the IMF actually  significantly upgraded the forecast from 3.1% to 3.6% – a big move up.

Regarding the US,  IMF managing direction Christine Lagarde recently said that oil prices as well as growth in the US “are not a cure for deep seated weaknesses elsewhere”.

The still loose monetary policy in the US and cheap oil support the economy of the United States according to the IMF.

China is expected to grow by 6.8%, down from 7.1% and emerging markets from 5% to 4.3%. Also forecasts for 2016 have been downgraded to 3.7% for the global economy.

Reductions have also been made to  inflation numbers, with 1% expected for 2015.

With the euro-zone officially in deflation, the IMF certainly has advice for Draghi and wants a big QE program: “as large as what the market’s expecting”.

All eyes are on Mario Draghi.

ECB decision – all the articles towards  Draghi Day