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IMF Scraps Forecast for Global-Growth Pickup on Brexit Fallout


 -- Published: Wednesday, 20 July 2016 | Print  | Disqus 

By: Mark O'Byrne

Following on from the Brexit vote last month the IMF have decided to re-evaluate their forecast for global growth.

Bloomberg  reports that they have revised their original 3.2% forecast down to 3.1% for 2016 and from 3.5% to 3.4% for 2017. While these feel like very modest revisions ,the IMF would not be known for radical changes of direction preferring slow and steady revisions.

Their new forecast is based on the assumption that British and EU officials reach new trade agreements that avoid a “large increase in economic barriers.” However, if talks break down, Britain will slip into recession as more financial institutions relocate to the euro area and consumption and investment contract more than expected, the fund said. In a “severe” scenario, global growth is seen sliding to 2.8 percent this year and next.

You can read the full article here 

Gold Prices (LBMA AM)

20 July: USD 1,325.60, EUR 1,204.308 & GBP 1,005.865 per ounce
19 July: USD 1,332.20, EUR 1,203.376 & GBP 1,009.042 per ounce
18 July: USD 1,326.15, EUR 1,200.298 & GBP 1,000.050 per ounce
15 July: USD 1,330.50, EUR 1,194.789 & GBP 994.150 per ounce
14 July: USD 1,325.705, EUR 1,192.99 & GBP 1,001.96 per ounce
13 July: USD 1,340.25, EUR 1,211.45 & GBP 1,009.74 per ounce
12 July: USD 1,352.85, EUR 1,217.84 & GBP 1,029.11 per ounce

Silver Prices (LBMA)

20 July: USD 19.70, EUR 17.88 & GBP 14.95 per ounce
19 July: USD 19.99, EUR 18.07 & GBP 15.18 per ounce
18 July: USD 19.72, EUR 17.83 & GBP 14.89 per ounce
15 July: USD 20.14, EUR 18.08 & GBP 15.06 per ounce
14 July: USD 20.25, EUR 18.23 & GBP 15.15 per ounce
13 July: USD 20.29, EUR 18.31 & GBP 15.25 per ounce
12 July: USD 20.35, EUR 18.35 & GBP 15.47 per ounce


Mark O'Byrne
Executive Director

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 -- Published: Wednesday, 20 July 2016 | E-Mail  | Print  | Source: GoldSeek.com

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