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One of the worst years for bond investors was 1994, when the Federal Reserve suddenly started to tighten policy after years in which it had held rates low to help the financial system recover from the savings-and-loan crisis.For the moment, however, the global economy looks fairly sluggish; forecasts for GDP growth are being revised down rather than up.
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In the report, a scheduled update to the bank's overview of the global economy, the bank forecasts sluggish growth in high-income countries, like Japan, Germany and the United States, in the coming years.
It also forecast sluggish oil-patch activity for at least the rest of this year.
In its annual report on the US economy, the IMF said growth this year would have been as much as 1.75% higher than the sluggish 1.9% forecast had spending cuts and tax increases been introduced more slowly.
A first-half recession followed by a sluggish recovery the standard forecast until recently could well have enabled the Fed to raise rates in the autumn.
Many analysts are forecasting sluggish growth of less than 1% annualized during the first three months of the year, as stock markets and the broader global economy turned volatile.
Its prediction for British growth in 2011 was 2.7%, higher than America's 2.4% and the euro area's sluggish 1.6%.But forecasts count little with voters.
There were jitters this month on the stockmarket after Infosys forecast a sluggish quarter ahead.
The forecast for sluggish Intel sales brought down shares of other semiconductor manufacturers.
Wall Street retreated Thursday after the chairman of the Federal Reserve, Ben S. Bernanke, forecast a "sluggish" economy until later in the year and more mortgage-related losses at banks.
South Korea's largest Internet access provider, the KT Corporation, posted its fifth consecutive drop in profit and cut its 2004 net income forecast amid sluggish demand for Internet access and fixed-line phone services.
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