series of spring meetings with the world bank in washington this week stop it is also downgraded its overgrowth forecast for this year and exciting weaker performances in some leijer economies. our business reporter has been looking into this story for us and joins us now. always go to get you on the show. you have been sifting through the report, what are the projections?- report, what are the projections? they are predicting projections? they are predicting that - projections? they are i predicting that economic projections? they are predicting that economic growth this year maybe to next year 3%, that is a downgrade on what they had said injanuary about one tenth of a percentage point, in the medium term they have given the weakest forecast in more than 30 years. they say there is potentially a perilous combination of factors and that those far as could lead to economic crisis and they are calling there for for central bank around the world to keep tight monetary polic
meetings with a washington this week. it also downgraded its global growth this year and deciding weaker than some academies for the pages been looking to this for the great to see you on this show. what have we heard to see you on this show. what have we heard from to see you on this show. what have we heard from the - to see you on this show. what have we heard from the irs i to see you on this show. “grief have we heard from the irs goes back they said their apparel is buying abilities that is for economic growth. it said it could lead to economic crisis as a result their calling on central banks around the world to keep tight monetary policy and that means you maintain high interest rates they say they ve actually given their they“ve actually given their forecast for the year and next. they loaded by about one tenth of a percentage point so about 2.8% global growth this year, 3% next year. that is determined on a number of factors and they say if things go sour or
here? there was one optimistic, janet yellen, us treasury - janet yellen, us treasury secretary, she says she feels reasonably bright and she wouldn t overdo the negativism she pointed, for example, to the us economy and said it has shown some strong resiliency particular when it comes to the labour market and recent figures when it comes to employment, as well as supply chain resiliency and finally energy prices committees of the us as amended by the high energy prices we have seen potentially for example in europe. she also pointed to the banking reforms that have occurred after the global financial crisis, she said, for example, that the banking system is very strong and as a result of the weaknesses i mentioned when it came to svb bank and credit suisse, they are not such problems. she said we do need to continue to be vigilant particularly as well when it comes to the banking system and the future when it comes to ukraine. system and the future when it comes to ukraine. katie sil
only i%. this is the weakest global growth they forecast in 30 years. they said this is because of weakness in economy, including germany, brazil, india. but they do say there has been some bright spots in the us and the uk has not been as bad as many have expected. we also heard from the chief executive, the head of the imf he says now that central banks need to prioritise price stability over financial stability. stability over financial stability- stability over financial stabili . ., , ., stability. lots to pick through and sift through stability. lots to pick through and sift through and - stability. lots to pick through and sift through and all - stability. lots to pick through and sift through and all of. and sift through and all of that. mainly sounding negative. have there been some optimism in all of this? optimism primarily came from the camp of the us treasury secretary janet yellen. she said that it is reasonable bright and she wouldn t overdo the negativism for the poi