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Significance
Risks to its central scenario are more balanced and less skewed to the downside. Global imbalances are shrinking, partly thanks to low oil prices. This is boosting disposable income in oil-importing countries at the expense of oil-exporting ones. The dollar's strength is also helping rebalance the global economy, although the euro-area's growing current account surplus is contentious.
Impacts
Disinflation has become widespread, especially within advanced economies, but should be temporary.
Low energy prices are estimated to add between 0.5-1.0 percentage points to global growth by 2016.
A revision of guidelines and rules is required to reduce the risk of another financial crisis.
Keywords:
International,
INT,
Brazil,
China,
EU,
IMF-World Bank,
India,
Japan,
Russia,
United Kingdom,
United States,
economy,
energy,
exchange rate,
foreign trade,
growth,
monetary,
oil,
policy,
public sector
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2015
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