FXStreet (Delhi) – Research Team at NAB, have lowered their 2016 global forecasts to 3.0% (from a revised down 2.9% in 2015). Key Quotes “In the face of a continuing sharp recession in Brazil, lower commodity prices, global equity market uncertainty and rising spreads – weakness in late 2015 in the USA has also not helped. Global growth continues to disappoint and remains sub-trend as the slowdown continues across many emerging market economies. The latest bout of financial market volatility and sliding commodity prices further illustrate the risks, which have become more weighted to the downside. Nor do we see much sign of a pick up in 2017 (3.3% forecast). These numbers remain significantly lower than recent IMF revised (down) global forecasts.” For more information, read our latest forex news.