The IMF has cut the global growth outlook for 2019 and 2020 (to 3.5% and 3.6% respectively), for the second time in 3 months. It mainly cited weakness in Europe (Germany and Italy) and some EM's and said the failure to resolve trade tensions could further destabilise a slowing global economy. Additional factors affecting its outlook are the bigger than expected slow-down in China's economy and a possible 'no deal' Brexit