The World Bank has updated its economic estimates. The most-recent estimates were from June.
- Lower revision driven primarily by lower prospects in eurozone, Japan, Brazil and Russia
- Sees global growth at 3.3% in 2016 and 3.2% in 2017
- Oil price drop boosted growth by 0.1 pp
- Sees advanced economies growing 2.2% vs 2.4% prior
- Expects to see Fed hold off longer on rate hikes because of lower oil, stagnant US wages and slower global growth
