Analysts at Lloyds Bank explain that today sees the start of the IMF/World Bank spring meeting, where key global policy makers will gather to talk about the world economic outlook and it will be the key event for the day.
“The IMF earlier this week revised up modestly its forecast of global economic growth for this year and suggested that downside risks had diminished. It also noted, however, that international trade policy and in particular protectionism continues to represent a threat to growth and presumably this will be an important area of debate over the next few days. Other key issues highlighted in the IMF reports released ahead of the meeting, and which are likely to be debated over the coming days, include sluggish wage growth, using tax policy to boost productivity and the impact of low interest rates on the financial sector.”
“BoE Governor Mark Carney is scheduled to speak at two fringe meetings at the conference. He may talk largely about International economic issues. If he does touch on UK domestic conditions he is very unlikely to depart from his previous dovish policy position, particularly given recent signs that UK economic growth is decelerating.”