Trump tariffs to knock growth but won’t cause global recession, says IMF

News Snapshot:

The ripping up of the trade rule book caused by President Trump's tariffs will slow economic growth in some countries, but not cause a global recession, the International Monetary Fund (IMF) has said. There will be "notable" markdowns to growth forecasts, according to the financial organisation's managing director Kristalina Georgieva in her curtain raiser speech at the IMF's spring meeting in Washington. Some nations will also see higher inflation as a result of the taxes Mr Trump has placed on imports to the US. At the same time, the European Central Bank said it anticipated less inflation from tariffs. Money:...