World Bank cuts 2015 global growth forecast to 2.8 pct from 3 pct seen in January

  • Sees advanced economies growing 2 pct this year versus 2.2 pct forecast in January
  • Cuts USs. 2015 growth outlook to 2.7 pct from 3.2 pct forecast in January
  • Cuts 2015 growth outlook for developing countries to 4.4 pct from 4.8 pct seen in January
  • World Bank chief economist urges US Federal Reserve to wait until 2016 to raise interest rates
  • World bank says 'excessive' appreciation of US dollar could hurt US economy and its trading partners
  • Says oil prices expected to average $58 per barrel this year, stay below $70 a barrel until 2018, and return to 2013 levels above $80 a barrel by 2025

From the twice yearly World Bank Global Economic Prospects Report - quick headlines via Reuters