the global economy is expected to grow a paltry 3% over the next five years, according to the head of the international monetary fund. her comments were made ahead of the imf and world bank s spring meetings, which kick off today in washington. our north america business correspondent samira hussain is there. high inflation continues to plague countries around the world. central bankers are raising interest rates to try and slow down those price increases. as a result, however, is we have some of the weakest growth projections by the international monetary fund since the 1990s. now, with the world s finance ministers and central bankers all meeting in washington this week, the increasingly fragile global economy will certainly be the focus, along with ways for countries to try and mitigate some of the negative impacts of those interest rate rises. now the high inflation, however, is already having an impact on poorer countries, pushing them further into financial distress. gi
and a warning from the international monetary fund, it says a third of the world will be in recession this year. for most of the world economy this is going to be a tough year. tougher than the year we leave behind. hello and welcome to bbc news. ukraine says russia attacked kyiv with waves of explosive drones overnight, targeting critical infrastructure. the military said air defence forces shot down all 39 iranian made drones. but the mayor of kyiv, vitaly klitschko, said energy facilities were damaged, disrupting power and heating supplies. our correspondent hugo bachega is in the ukrainian capital kyiv and has the latest. so the mayor said one person was wounded when debris fell from a drone intercepted by the country s air defence forces. now, it was the second night in a row when the air raid alert sounded here in care. people were told to go to shelters and obviously, they are angry, they are tired of these attacks. he has been frequently targeted in recent days. the m
The slump in China’s housing construction will continue in 2024, dragging down economic growth and suggesting that government efforts to stabilize the sector haven’t been enough to reverse the downturn. That’s the consensus from 10 investment banks and securities brokerages, including Goldman Sachs Group Inc., Morgan Stanley an d UBS…
Goldman, Morgan Stanley Expect China s Housing Slump to Worsen bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
the consumer price index for march rose by 0.7% on an annual basis. the main reason behind the slowdown was sluggish food prices. while many countries continue to struggle with the cost of living crisis, china s strict lockdown policy over the past couple of years has kept prices under control. allan von mehren, chief analyst and china specialist at danske bank, explained what lies ahead for china. we are seeing signs that activity is picking up, especially the service sector. people are going out more, looking to travel again and these things. there are definitely signs that demand is picking up but it isjust coming from a very low level, so there is room for demand to grow quite a bit without spurring any inflationary pressures in china. right now the task in china is really to get growth going, to get demand up and inflation is only going to be a problem maybe down the road,