Pacific Investment Management Co Boosts Outlook for Global Growth

The world economy is looking stronger than it did three months ago, prompting Pacific Investment Management Co. to boost its forecast for global growth and predict that central banks are moving closer to the end of the era of extremely low interest rates.
Pimco,  said the world economy will expand 2.75 percent to 3.25 percent in 2017, up from a forecast of 2.5 percent to 3 percent in December.

The euro area, the U.K. and emerging markets will all grow faster than the money manager expected in December.
“With improved growth and inflation prospects, exhausted central banks are likely to move closer to the exit from ultra- accommodative monetary policies,” Pimco wrot
Pimco also:
* Scaled back its assessment of near-term inflation pressures in the U.S., citing softer wage growth and a recent decline in oil prices.
* Predicted a fiscal stimulus package in the U.S. probably won’t be finished until early 2018 because Congress will be busy this year repealing Obamacare.
* Said the U.S. Federal Reserve will probably hike its policy interest rate twice more in 2017.
Source Bloomberg

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