June 21, 2018 / 5:23 PM / in 6 months

IMF to revise down euro zone growth, sees trade and Brexit risks

LUXEMBOURG, June 21 (Reuters) - The International Monetary Fund will revise down its growth forecasts for the euro zone as it faces higher risks from global trade, sanctions against Russia and Iran and Britain’s decision to leave the bloc, the fund’s managing director said.

When the fund publishes its new forecasts on the euro zone economy in July, it will slightly revise down its growth estimates but does not expect “a sharp slowdown,” Christine Lagarde told a news conference in Luxembourg on Thursday.

She said U.S. tariffs on steel and aluminium were a major concern for future euro zone growth. She added that the protracted Brexit negotiations could create additional uncertainties and “could lead to an abrupt Brexit.” (Reporting by Francesco Guarascio and Jan Strupczewski Editing by Andrew Heavens)

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