The Latest Breaking News from PierreOlivier Gourinchas

Optimistic forecasts could be upset by high borrowing costs, war in the Middle East – or a Trump election win

New report upgrades outlook for UK economy with growth now forecast at 1.1% rather than 0.7%

It came as the financial agency held its forecasts for the global economy steady for 2024, with a slight downgrade for next year.

IMF predicts UK will grow by 1.1% this year, making it the joint third-fastest G7 country, but debt consolidation will be a challenge

Australia can expect lacklustre economic growth into early next year, with small businesses particularly vulnerable to sour economic conditions.

The IMF held global growth expectations for 2024 steady in a report Tuesday even as it cut forecasts for the United States and Japan, while warning of inflation risks and trade tensions ahead.

The International Monetary Fund is upgrading its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan

Warning comes as Bank of England policymakers say price growth in service sector could become embedded

In the UK, anxiety over the crisis after Iran’s missile strike on Israel drives down UK shares

Treasurer Jim Chalmers will use talks in Washington to take the temperature of the global economy as he puts the finishing touches on his third federal budget.

The recent oil price spike fueled by rising Middle East tensions has the potential to derail the IMF's "relatively good" outlook for the world economy, its chief economist told AFP. "We are projecting a global economy that is quite resilient for 2024," Pierre-Olivier Gourinchas said in an interview ahead of…