World Bank warns of weaker global growth amid Brexit, trade uncertainty

The IMF has also indicated it may lower its 2019 outlook from after the fund in July projected 3.2 per cent growth -- the lowest since the financial crisis

World Bank President David Malpass said the global economic outlook is deteriorating amid Brexit-related uncertainty, trade tensions and a downturn in Europe.

“Global growth is slowing,” Malpass said in Montreal on Monday in a speech ahead of the the IMF and World Bank annual meetings. The world economy now looks even weaker than the bank’s June forecast for 2.6 per cent growth in 2019, “hurt by Brexit, Europe’s recession and trade uncertainty,” he added.

Malpass renewed his global growth warning as investors are keeping an eye on several major issues that could come to a head this month.

High-level U.S.-China trade talks resume