TechLife Chronicle

  The International Monetary Fund (IMF) has cut its global growth forecasts, and its Chief Economist, Pierre-Olivier Gourinchas, has called for central banks to continue to apply pressure to bring inflation rates down. Speaking to reporters in Washington, DC on Tuesday, April 11th, Gourinchas highlighted the need for vigilance, warning of a fragile economic outlook and downside risks. The IMF's Revised Growth Forecasts According to Gourinchas, global growth is expected to bottom out at 2.8% this year before rising modestly to 3% next year. These predictions are almost unchanged from the IMF's projections in January. The tightening of monetary policies by most central banks is starting to bring inflation back towards its targets, and persistent high inflation rates have led central banks and governments to tighten financial conditions. Risks to Financial Stability While tightening financial conditions may help to bring inflation rates down, it has also exposed some banking vulne...