The World Bank has lowered Pakistan's growth rate projections for the current fiscal year and next two years owing to continuation of tight monetary policy and fiscal consolidation coupled with external factors. "Pakistan's growth is expected to rise to 3 per cent in the next fiscal year after bottoming out at 2.4 per cent in FY2019-20, which ends June 30," the World Bank said/

The World Bank has projected a five per cent growth rate for India in the 2019-2020 fiscal, but said it was likely to recover to 5.8 per cent in the following financial year. The US' growth is forecast to slow to 1.8 per cent this year, reflecting the negative impact of earlier tariff increases and elevated uncertainty.

Gold prices were steady on Thursday, retreating from the near seven-year peak hit in the previous session, as a softening rhetoric by the US and Iran allayed concerns of a larger military conflict. Spot gold was unchanged at $1,555.51 per ounce by 0031 GMT. Prices hit their highest since March 2013 at $1,610.90 on Wednesday. US gold futures fell 0.3 per cent to $1,555.90.