News Headline Summary

IMF reduces world growth forecast for this year to 3.3% from 3.5%

- Lowers 2013 US growth outlook to 1.9% from 2%
- Raises 2013 Japan growth forecast to 1.6% from 1.2%
- Cuts 2013 Euro-area outlook to -0.3% from -0.2%
- Sees room in advanced economies for more monetary easing
- Policy makers cannot afford to relax their efforts.
- Talk of Japan's competitive currency devaluation overblown.
- USD and EUR appear modestly over-valued, CNY moderately undervalued, evidence of JPY is mixed.
- Trims forecast for China to 8.0% in 2013 and sees economy growth 8.2% in 2014.

16 Apr 2013 - 14:00 - Fixed Income Economic Commentary - Source: Newswires

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