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World Bank cuts UK growth forecast

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World Bank cuts growth forecast, cites ‘protectionist pressures’

World Bank cuts growth forecast, cites 'protectionist pressures'*/

– President-elect Donald Trump’s future trade policies are worrying the World Bank.The bank cut its global growth forecast for 2017 on Tuesday, citing “protectionist pressures” as one of the key risks.Along with highly uncertain policies in the U.S. and U.K., “risks” to the outlook include “mounting protectionist pressures, financial market disruptions and growth disappointments in major economies,” the World Bank said in its report.
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World Bank pares India’s growth forecast for FY17 to 7% from 7.6%

World Bank pares India’s growth forecast for FY17 to 7% from 7.6%*/

– NEW DELHI: The World Bank has pared India’s growth forecast for FY17 to 7% from 7.6% estimated earlier, attributing it partly to demonetisation of high-value currency notes.India is still forecast to retain its position as the world’s fastest growing major economy ahead of China, which is forecast to grow 6.7% in 2016.“India’s slight growth slowdown from the preceding fiscal year reflects the shortterm impact of the unexpected exchange of most of the bank notes in circulation.Ongoing weakness in private investment also weighed on activity,” the World Bank said in its flagship ‘Global Economic Prospects’ report released on Tuesday.World Bank in June 2016 forecast 7.6% growth for India for FY17, which it reiterated in October, a month before the government decided to cancel the legal tender of Rs 500 and Rs 1,000 notes.“Unexpected ‘demonetisation’— the phasing out of large-denomination currency notes which were subsequently replaced with new ones — weighed on growth in the third quarter of FY2017,” World Bank said.It expects the impact to spill over into the next quarter as well.
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World Bank cuts UK growth forecast

World Bank cuts UK growth forecast*/

– The uncertainty surrounding Britain’s future relationship with the EU “will take time to resolve” STEFAN ROUSSEAU/PA WIREThe World Bank has slashed its growth forecasts for Britain up to 2019, with no sign of recovery from a Brexit-induced slowdown.In its first update since the European Union referendum last June, the bank cut its expectations for UK growth from 2.1 per cent to 1.2 per cent in 2017 and from 2.1 per cent to 1.3 per cent in 2018.It predicted growth of 1.3 per cent in 2019.
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