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Global growth momentum expected to continue

Saturday, November 04, 2017

Update: 3:17PM THE global growth momentum is expected to continue in 2017 as the International Monetary Fund raised its growth projection for the world economy to 3.6 per cent in its October World Economic Outlook, from the earlier forecast of 3.5 per cent, the Reserve Bank of Fiji notes in its economic review for the October month-end.

It stated that stronger rebound in the advanced economies led by faster growth in domestic demand and output in the first half of 2017 supported this outcome. 

For 2018, the central bank said the world economy was expected to grow by 3.7 per cent. 

"Movements in commodity prices were mixed with import prices showing signs of possible tightening while export commodity prices continue to remain low," the RBF said in its review. 

"Inflationary pressures and wage outcomes remained subdued across most economies, reflective of the generally accommodative monetary and fiscal policy stances."

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