World Bank sees slower global growth, urges Fed to wait on rates
The World Bank on Wednesday cut its global growth outlook for this year and urged countries to "fasten their seat belts" as they adjust to lower commodity prices and a looming rise in US interest rates.
Washington Last Updated: June 11, 2015 | 10:47 IST
Kaushik Basu, the World Bank's chief economist, said the Federal Reserve should hold off on a rate hike until next year to avoid worsening exchange rate volatility and crimping global growth. (Photo: Reuters)