The International Monetary Fund has cut its forecast for world economic growth this year, citing heightened trade tensions and rising U.S. interest rates. For Canada, the IMF's estimate for growth in 2019 was 1.9 per cent, down from a forecast in October for growth of 2.0 per cent. The central bank forecast growth of 1.7 per cent this year, down from its October prediction of 2.1 per cent. Chinese growth helped kickstart the world's economy after the 2008 financial crisis and economists fear the slowdown will put a drag on global growth. The World Bank and the Organization for Economic Cooperation and Development have also downgraded their world growth forecasts.

Source: CBC News January 21, 2019 16:41 UTC