Global Economic Growth Forecast for 2020: Strong, Stable, and Steady, Despite Uncertainties Caused by Geopolitical Tensions

The International Monetary Fund (IMF) has released a new World Economic Outlook report indicating that global economic growth will remain strong. According to Yahoo Finance reporter Jennifer Schonberger, the IMF expects the global economy to grow by 3.2% this year, which is on par with the previous year’s growth. The chances of a global recession are low, with only a 10% likelihood this year.

However, Schonberger notes that this forecast was made before Iran’s recent air attack on Israel, which could impact global economic stability. Despite this, inflation is expected to continue decreasing due to factors such as falling core inflation rates, higher interest rates, weakening job markets, and relief from elevated energy prices.

The IMF predicts that inflation will lead to global central banks cutting interest rates in the latter half of the year. The Federal Reserve may lower rates three times by the end of 2024 for more information and analysis on this topic and other market updates, you can watch the full episode of Yahoo Finance. Gabriel Roy authored this article.