Global growth forecast slashed by IMF over tariff impact
The US suffers the biggest downgrade to growth among advanced economies, in the influential International Monetary Fund’s latest forecast.
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Norway’s oil fund aims to save $400mn of trading costs using AI
Fund is one of the world’s biggest equity investors making 46mn trades a year
Saudi-led Opec+ expands production despite falling oil prices
Oil cartel agrees to add 411,000 barrels a day for the second consecutive month
The case for ‘greening’ sovereign debt relief
Also in today’s newsletter, a new philanthropic initiative for newborn health bucks global aid cuts
US dollar hits three-year low after Trump intensifies attack on Fed chair Powell – business live
Rolling coverage of the latest economic and financial news
Rachel Reeves will fly to Washington this week to argue for global free trade in the face of Donald Trump’s punitive tariffs, amid continued international economic turbulence.
The UK chancellor will use the spring meetings of the International Monetary Fund, which is attended by top finance ministers and central bankers, to make the case that free trade is in both British and global interests.
“We’re facing a new economic reality, but we’re a heavily trading country, with the value of our exports the equivalent of 60% of GDP, so it’s always in our own interests to promote free trade.”
Trump’s bullying must stop but the true costs of globalisation will remain | Richard Partington
We cannot return to the status quo before ‘liberation day’, with western economies hollowed out by free-market capitalism
Fundamentally wrong, brutal and paranoid. A preacher of voodoo economics, attacking the US’s allies and enemies alike. Condemnation of Donald Trump in the chaos since his “liberation day” has been swift.
For most people the self-inflicted damage makes no sense, and rightly so.