* IMF cuts global growth forecast from 3.4% in January to 3.2% * Oil hits 2016 high * Full story on inflation * Explainer: What is inflation? * UK price inflation up 0.5% in March * Concern grow after Greek talks delayed again 2.03pm BST The IMF is worried about a new phase of the financial crisis, but its proposals to remedy the situation do not go far enough, writes Larry Elliott: The prospect of Brexit clearly scares the IMF. A vote to leave would, it says, have serious consequences not just for Britain and its EU partners but for the whole of the global economy. The Fund is twitchy. It can identify a number of different triggers that might possibly bring about a new, dangerous phase of the crisis – such as a sharper than expected slowdown in China, a collapse in emerging markets or a pandemic. But with little more than two months to go before the referendum, Brexit is the most immediate threat. But if the Fund is right in its assessment, something will trigger the crisis sooner or later even if Britain decides to remain a member of the EU. The IMF says global growth has been too slow for too long, and proposes a mix of expansionary monetary policy (low interest rates and quantitative easing), higher spending on infrastructure and research and development, and structural reforms to boost productivity. Related: From boom to doom – the IMF paints a vastly different picture from 2006 2.00pm BST Ahead of its spring meeting the International Monetary Fund has, as expected, cut its forecasts for global growth, at the same time as warning on the risks of Britain leaving the European Union. Katie Allen and Anushka Asthana write: A British vote to leave the EU risks causing severe economic and political damage to Europe that will spill over into an already febrile world economy, the International Monetary Fund has warned. Cutting its forecasts for global growth and for the UK and other advanced economies, the IMF listed a potential Brexit vote in June’s EU referendum as a key risk in its latest World Economic Outlook (WEO)... Related: IMF says Britain leaving the EU is a significant risk Continue reading...
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