IMF lowers global growth as China slows

The IMF cut its global growth forecasts for the third time in less than a year yesterday, as new figures from Beijing showed the Chinese economy grew at its slowest rate in a quarter of a century in 2015. To back its forecasts, the IMF cited a sharp slowdown in China trade and weak commodity prices that are hammering Brazil and other emerging markets.

The fund forecast the world economy would grow at 3.4% in 2016 and 3.6% in 2017, both years down 0.2 percentage point from the previous estimates made last October.

It said policy-makers should consider ways to bolster short-term demand.