IMF cuts growth forecast after disappointing December

The International Monetary Fund has cut its growth forecast for the next two years, after December's figures in many countries disappointed.

The IMF revised down this year’s global growth forecast to 3.5% from the .8% it predicted in October in its latest quarterly outlook. It also cut its forecasts for growth in 2016 by 0.3% to 3.7%. The news followed the World Bank lowering its growth forecasts last week.  The IMF said the “net positive” boost provided by falling oil prices would be offset by a drop in investment, particularly in Europe. Forecasts for European growth were also cut, albeit marginally, from 1.3% to 1.2%, and China's growth by 0.3%, with 6.8% expected this year. The IMF also said an expected b...