A note on the global outlook from Fitch

  • US 2016 growth forecast lowered to 1.4?% vs 1.8% prior

  • UK data is slightly better than expected

  • BOE is unlikely to follow through on forward guidance to cut rates before year-end

  • China's efforts to stabilise growth in the face of a sharp slowdown in exports and private sector investment look to have gained traction

  • Sees BOJ interest rate at -0.5% by end of 2017

  • Political risks threaten global growth outlook

The overall message from Fitch is that global growth is going to remain lacklustre for a while yet.