World Bank (WB) nevertheless warns that substantial risks cloud the outlook, though it predicts global growth to strengthen to 2.7% this year. WB noted that new trade restrictions could derail the welcome rebound in global trade. Persistent policy uncertainty could dampen confidence and investment. Amid exceptionally low financial market volatility, a sudden market reassessment of policy-related risks or of the pace of advanced-economy monetary policy normalization could provoke financial turbulence.

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