Washington D.C., July 6, 2012 — Charles Dallara, Managing Director of Institute of International Finance, told CNBC that the moves by central banks may be welcomed by markets but he remains bearish about growth prospects.

“The global environment is weakening and I am afraid we are getting negative synergies among the major economic zones of the world right now,” Dallara said. “What we are seeing on the central bank front is positive but it is just not enough to alter fundamentally weak bearish outlooks.”