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Imf Raises Global Economic Growth Forecast To 5.2 Pct For 2007, 2008

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WASHINGTON (Thomson Financial) - The International Monetary Fund (IMF) has raised its global economic growth forecast to 5.2 pct for both 2007 and 2008, up 0.3 percentage points from its April outlook.

Though inflation remains 'generally well contained' for now, the IMF says in its updated World Economic Outlook (WEO), inflation risks are up and there is an 'increasing likelihood central banks will need to further tighten monetary policy'.

Supply constraints are developing because of faster growth and the IMF economists have raised their predicted price increase for non-fuel commodities more than ten percentage points to 14.5 pct this year. That's raising the odds 'central banks will need to respond quickly and in a forward-looking way to these pressures', Collyns said.

Inflation still a problem.

Edited by Ash4781

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In a vaguely related manner (don't think i can start a topic), does anyone have any comments on the future impact of poor balance of trade figures (predicted based on UK peak oil/gas having passed).


Not sure what to make of this at a first pass.

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