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Weekly Business News [April 20 Edition]

According to the latest estimates from the International Monetary Fund (IMF), global GDP is expected to grow by 3.2% annually from 2024 to 2025, maintaining the same growth rate as in 2023. This forecast was revised upward by 0.1% from the previous World Economic Outlook released in January, primarily due to improved economic projections for the U.S. Specifically, the IMF now forecasts U.S. growth to rise to 2.7% in 2024, up from the 2.1% projected earlier. Similarly, Russia’s growth forecast for 2024 has been increased to 3.2% from 2.6%

In March, UK inflation dropped to 3.2% from 3.4% in February. Anticipating a reduction in interest rates by the Bank of England later this year, investors on Wednesday nonetheless scaled back their expectations regarding the extent of these cuts.