"IMF Raises Global Growth Forecast on US Resilience and China Policy Support"

The IMF has raised its global growth forecast for 2024 to 3.1%, citing the resilience of the U.S. economy and fiscal support in China, with large emerging markets also performing better than expected. Despite new risks from commodity price spikes and supply chain issues, the IMF sees a reduced likelihood of a "hard landing." Inflation is falling faster than expected, leading to the possibility of central banks easing policy rates in the second half of the year, but there is a risk of policy remaining too tight for too long, which could slow growth and bring inflation below 2% in advanced economies.