The IMF's updated WEO shows continued...........>

IMF: The IMF's updated WEO shows continued slowdown in global growth, with

downside risks from trade issues and disinflationary pressures, but there were

upward revisions to growth for some developed economies. Additional trade

escalation was averted by the June G20 meetings, but said already-enacted

tariffs and Brexit-related concerns are still issues.

- The IMF said that accommodative monetary policy remains appropriate for

advance economies, while noting that GDP surveys and softer inflation suggest

weaker than expected global activity. They note that investors see more

significant easing than they did in April.

- US growth rev up to +2.6% from +2.3% for 2019 on better Q1 reading, still

+1.9% for 2020

- Euro Area growth still +1.9% for 2019, but rev up to +1.6% for 2020 (was

+1.5%). The forecast for Germany was revised lower, but revised up for Spain.

- UK growth rev up to +1.3% from +1.2% previously, still seen +1.4% for 2020.

Japan rev down to +0.9% (prev +1.0%), 2020 rev down to +0.4% (prev +0.5%).

Canada unrev at +1.5% for 2019, +1.9% for 2020.