Sees global 2024 growth at 2.6%, up 0.2% vs previous report (Il Sole 24 Ore Radiocor) - New York, 11 Jun - The World Bank said it had raised its 2024 global growth outlook as the US economy fires better than expected but warned the outlook remained subdued by historical standards.

In its latest Global Economic Prospects report, the bank said global growth is expected to stabilize at 2.6% this year, holding steady for the first time in three years despite flaring geopolitical tensions and high interest rates.

The projection is up 0.2% from its January forecast, mainly due to the strength of US demand.

Growth is then expected to edge up to 2.7% in 2025-26 amid modest growth in trade and investment.

Global inflation is projected to moderate but at a slower clip than previously assumed, averaging 3.5% this year.

"Given continued inflationary pressures, central banks in both advanced economies and emerging market and developing economies will likely remain cautious in easing monetary policy," it said.

It said global risks remained tilted to the downside despite the possibility of some upside surprises. "Escalating geopolitical tensions could lead to volatile commodity prices, while further trade fragmentation risks additional disruptions to trade networks.".

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(RADIOCOR) 11-06-24 19:18:18 (0599) 5 NNNN