Economic wows or woes?

Posted by Zane on 11 December 2014


Economic conditions across the globe are ‘somewhat improved’ according to the IMF, which edged up its global growth forecast for this year from 3.3% to 3.5%. It makes a change to have some good news, but of course there are risks – unsurprisingly mainly from the Eurozone. The IMF is worried that low growth and a need to boost capital will cause banks to increase their pace of deleveraging. This would send another chill through the financial system and could jeopardise global recovery. It is a real risk but, for now, it is still just that. Maybe we should take heart that there was still appetite for new Spanish government bonds, albeit at a price. On top of this, the IMF’s success in obtaining pledges for an additional US$340bn, even without defining its purpose, might suggest that there is a slight improvement in confidence. (after RBS)

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