World Bank Cuts Global Forecast

World Bank Cuts Global Forecast

The World Bank has revised its forecast for the global economy from 3.2% in January to 2.8% based on the slow start to the year. It cited poor growth in the US due to the bad weather, tension in Ukraine and the expectation of interest rate rises in the US, UK and Canada. Although the forecast has been downgraded, the Bank says that there are good signs of economies picking up, and has therefore not revised its predictions for 2015 and 2016. Read the full story.