Comments from the IMF after their latest forecasts

  • Fed rate hike was based on forecast of strong US growth and inflation rising
  • Latest incoming data suggests the US recovery is weaker
  • Expects BOE not to be in a rush to hike without strong evidence of a tightening labour market
  • Markets are reacting strongly to small bits of evidence
  • Falling oil prices help consumers and is not an unmitigated negative
  • IMF doesn't see some of the extreme downside scenarios that the markets seem to be factoring in

Here's the rundown of the IMF's latest forecasts. Brazil and the Saudi's have seen their forecasts cleaved