The IMF has cut its growth forecasts for the global economy for this year and next. It predicts growth of 3.2% in 2019, down from its April forecast of 3.3%. Growth next year is set to pick up to 3.5% next year. IMF said there is an urgent need to reduce trade and technology tensions. However, the fund said it expects the US economy to grow 2.6% in 2019, up from the 2.3% it forecast in April.