The International Monetary Fund (IMF) forecast in their latest World Economic Outlook published, that global growth will bottom out at 2.8 percent this year before rising modestly to around three percent in 2024, representing a 0.1 per cent fall on its January projections. Global inflation is also heading down, signalling that the tightening of monetary policy through major interest rate rises is bearing fruit, though more slowly than initially anticipated, from 8.7 percent last year to seven percent this year, and 4.9 percent in 2024.