IMF Has Its Say – Investec
Research Team at Investec, suggests that the IMF hit the headlines
yesterday as it cut its 2016 global growth forecasts to 3.2% from 3.4%.
Key Quotes
“The
IMF also said a UK exit from the EU could cause ‘severe regional and
global damage’. The Pound had been enjoying a strong session in the
morning following the release of the better-than-expected UK CPI
Inflation figures, but Sterling slid in the afternoon, spurred on by the
IMF comments and an ICM poll on the UK's upcoming June EU referendum
vote.
The poll gave the ‘Brexit' side one of its best results so
far, at 45%, compared to 42% for 'Bremain'. Despite polls continuing to
show the result as too close to call, bookmakers' odds still point to
the UK opting to stay in the EU. Worth noting the Euro also suffered on
the poll alongside the Pound, whereas previously the Euro has been
unaffected despite the obvious negative impacts of a Brexit on the
Eurozone.
Oil prices rose and equities rallied yesterday, despite the downgrade in the IMF's global outlook.”
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