World Business News

A round up of the latest news for those doing business internationally

US central bank cuts growth forecast for 2014

Zone(s): USA ¦ Sector(s): Economy
[18 June 2014, BBC News] The US Federal Reserve has cut its growth forecast for 2014 because of the harsh winter weather. The central bank is now predicting growth of between 2.1% and 2.3% for this year, down from its March forecast of 2.8% to 3%.

However in its accompanying statement, the bank said that economic activity had “rebounded in recent months”. As expected, it has also trimmed back its stimulus programme by $10bn (£5.9bn) a month to $35bn.