Lower oil prices to slightly boost global growth: IMF

Lower oil prices are expected to modestly boost growth in the global economy, by about a half percentage point in 2015-2016, according to an IMF report released Tuesday. "Lower oil prices should translate into higher spending and therefore support global growth," the International Monetary Fund said. Last week the IMF lowered its 2015 global economic growth forecast to 3.3 percent from 3.5 percent and held unchanged its 3.8 percent estimate for 2016.