The October 2012 edition of the World Economic Outlook, published by the International Monetary Fund (IMF), forecasts only a very modest recovery in global economic growth in 2013, to 3.6 percent compared to 3.3 percent in 2012.
To sum up, a cross-check of the outcome of the economic analysis with that of the monetary analysis fully confirms the assessment that there are upside risks to price stability over the medium term, in a context of vigorous money and credit growth and against the background of sound economic fundamentals in the euro area.