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* Federal Reserve Bank of New York President William Dudley on Monday warned against preparing toBuy nike running shoes online tighten the U.S. monetary policy too early, maintaining his previous dovish tone about the outlook for central bank policy. Dudley told a question and answer session after a speech in Tokyo that he does not expect a sharp acceleration in the U.S. inflation rate in the near term because the recent rise in international commodity prices will be "temporary" and wage pressures in the U.S. are "extremely benign." U.S. inflation expectations are "not unanchored" and there is no reason to believe that this confidence in future price stability will be lost, Dudley said. [08:38 ET]

* In its semi-annual World Economic Outlook report, the IMF expects the U.S. and the world economy to keep growing this year, but it is worried about mounting risks to its relatively conservative forecast. The WEO projects 4.5% global growth this year and next, a bit less than last year. But it warns that "downside risks have risen." The "key downside risk to growth" is "the potential for oil prices to surprise further on the upside because of supply disruptions," it said, estimating that if oil goes to $150 per barrel, it could cut growth by at least three quarters of a percent. [10:00 ET]

* Lingering fragility in the financial system and moderate underlying inflation call for a "slower pace" of monetary policy normalization by the European Central Bank, the International Monetary Fund said in its World Economic Outlook, released on Monday. Any further tightening moves in the advanced economies of Europe should be slow since economic conditions warrant "low policy rates for now to support the recovery and help offset the dampening short-term effects of fiscal consolidation on domestic demand," the IMF said. [10:00 ET]

* Given the stronger than expected demand for energy, compared to the "sluggish" response from suppliers, the International Monetary Fund Monday projected average oil prices to remain above $100 per barrel this year and next. The IMF also described the outlook for the oil market as"uncertain," and warned that food prices could rise further if governments, in an effort to placate their disenchanted citizenry, ramp up grain purchases to subsidize local markets. [10:00 ET]

* Among the biggest risks to the global economy, in addition to yet higher oil prices, is the threat which record U.S. budget deficits pose to bond markets, according to the International Monetary Fund Monday. The IMF said the Federal Reserve and other major central banks need be in no hurry to raise short-term interest rates or withdraw "unconventional" forms of monetary stimulus, and fears that rates could rise independent of central bank tightening if the United States does not take more meaningful action to restrain deficit spending. [10:00 ET]

* China is expected to turn in another strong year of growth in 2011, but inflation is spreading and the authorities need to take action to ensure that "disconcerting" credit and asset price trends cheap nike mens acg sandals 2011 don't result in an asset price bust, the International Monetary Fund warned in its latest World Economic Outlook. It left its forecasts for the pace of China's economic expansion this year and next unchanged from its January projection at 9.6% and 9.5%, respectively. [10:00 ET]

* Prospects for Eurozone economic activity have improved in recent months, but rising price pressures will continue to weigh on private consumption, three top EMU statistical research groups said Monday. The joint projections by the national statistics office of France and Italy and the leading private institute in Germany expect no slowdown in inflation in coming quarters from annual rate of 2.6% hit in March. Quarterly GDP growth in 1Q is now estimated at 0.5%, 0.2 point more than forecast in January. Growth would slow somewhat to 0.4% in 2Q and 3Q after a rebound in construction investment in 1Q. [10:00 ET]

* The German Finance Ministry, in its new stability program to be forward to the European Commission, projects that the country's deficit will fall to below 3% of GDP this year, a senior ministry official said Monday. The ministry forecasts Germany's public deficit at 2.5% of GDP this year, down from last year's 3.3%. It projects a further narrowing of the shortfall to 1.5% in 2012, 1.0% in 2013 and 0.5% in 2014, the source said. In 2015, the deficit is seen stagnating at 0.5%, he remarked. [10:00 ET]

* The International Monetary Fund lowered its forecast for UK GDP growth in 2011 to 1.75% in the latest World Economic Outlook, published Monday. That was down from a previous projection of 2.0% projection in its January Outlook. The growth downgrade was due to the fact that "necessary front-loaded fiscal consolidation dampens domestic demand," the IMF said. [10:00 ET]

* The Latin America and Caribbean regions have weathered the global recession well and continue to post solid growth rates but is now facing two strong tailwinds: rising commodity prices and surging capital inflows, the International Monetary Fund said Monday. In the semiannual World Economic Outlook, the IMF warned of the potential bust in the region if China, Brazil or the United States see a sharp downturn, or if an oil price spike causes a global slowdown. [10:00 ET]

* The International Monetary Fund Monday said the economies of energy exporters from the Middle East and North Africa will receive a massive boost from soaring prices, further widening the gap between them and other countries in the region that are classified as oil importers. However, these same energy prices, along with other rising commodity prices, will push inflation in the region into double digits in 2011, the fund said. [10:00 ET]

* Policymakers in Sub-Saharan African nations mustremain alert to inflation pressures from rising commodity prices, cheap nike mens acg sandals 2011 even as they enjoy a rate of growth second only to developing Asia, the International Monetary Fund said Monday. [10:00 ET]

* A decision on adjusting the interest rate charged on EFSF bailout loans is "urgently" needed to help support fiscal sustainability, the International Monetary Fund said in its World Economic Outlook on Monday. The IMF also said that European leaders should quickly clarify the mechanism by which the effective lending capacity of the EFSF will be increased to E440 billion from the current E250 billion. [10:00 ET]

* MNI's U.S. retail trade index fell three points in the April 9 period to 60.1, above 50 to indicate year-on-year growth but below trend to indicate slowing growth, according to the results of Market News International's weekly survey released Monday. [10:30 ET]

* The European Central Bank said Monday no bond purchases were settled through its Securities Market Programme for the second consecutive week. The bank also reported that E55 million in securities purchased through the SMP had matured. As a result of the ECB remaining on the sidelines, the total amount of funds that the central bank will seek to drain is unchanged at E77.0 billion. [09:33 ET]