International Markets Update

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Markets around the world have endured a bruising quarter as worries about a slowdown in China and uncertainty over the timing of the Federal  .....

Summary

  • Markets around the world have endured a bruising quarter as worries about a slowdown in China and uncertainty over the timing of the Federal  Reserve’s plan to raise interest rates rattled investors.
  • The US Fed kept interest rates unchanged at its 0 to 0.25% target range, bowing to worries about the global economy, financial market volatility and sluggish inflation at home, but leaving open the possibility of a modest policy tightening later this year. 
  • The US economy posted another month of weak job growth in September, suggesting global economic turmoil is sapping momentum from the US expansion
  • The ECB cut its inflation and growth forecasts for 2015 and the next two years. It expects inflation in the Eurozone to remain "very low" for some years as threats to economic growth increase. 
  • Eurozone’s inflation rate unexpectedly turned negative in September for the first time in six months, raising pressure on the ECB to increase its asset purchases to kick start lackluster price growth.
  • Inflation in Japan remains as elusive as ever, with prices turning negative in August and raising the pressure on the central bank to ramp up its monetary stimulus program again later this year. 
  • Chinese manufacturing activity shrank for the second consecutive month in September as demand softened at home and abroad, adding to gloom over the state of the economy and raising expectations of another rate cut from the central bank.
  • Weakening global economic conditions pushed India’s central bank to slash interest rates by a larger-than-expected 0.5% to 6.75%, raising hopes that lower borrowing costs would finally boost investment.

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