Economics

Is the global manufacturing recession coming to an end?

The global economy has clearly slowed over the last couple of years. During this period, global manufacturing led the way in creating demand weaknesses, eventually pushing the more resilient service sector with it.

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Global interest rates will be lower for longer to support growth

The global economy is sailing into headwinds, the most obvious of which is the trade war between the US and China. This has in-turn forced central banks across the world to ease monetary policy to support economic growth.

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US Fed cut rates again and signals a pause for breath

The US Federal Reserve (Fed) has decided to cut rates for the third time this year at its latest monetary policy meeting in October 29-30th. The target range for the benchmark fed funds rate was adjusted down by another 25 basis points (bps) to 1.5-1.75%.

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Bank Indonesia cut policy rates further to support economy

Bank Indonesia (BI), the central bank of Southeast Asia’s largest economy, decided to cut rates further by 25 basis points (bps) to 5% in its latest monetary policy meeting. The decision was in line with market expectations and amounted to the fourth rate cut since July this year.

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Global growth is slowing and the strength of the recovery is uncertain

In its latest World Economic Outlook (WEO), the International Monetary Fund (IMF) forecasts a synchronized slowing in the growth rate of global economic activity (GDP) to 3.0% in 2019 from 3.6% in 2018. Indeed, the IMF has been steadily revising down its estimates and forecasts for global GDP growth over the past year (see chart).

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Market Data

Last Update : Thursday 04 June 2020