Economic wows or woes?

Posted by Zane on 11 December 2014

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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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