International Markets Update

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o The beginning of October was marred by the government shutdown in the US, largely and exaggerated media spectacle to disintegrate opposition to incr.....

Executive Summary

o The beginning of October was marred by the government shutdown in the US, largely and exaggerated media spectacle to disintegrate opposition to increasing government debt limits: the only viable plan to prevent a catastrophic US debt default. o Barrack Obama pledged an aggressive strategy to remove red tape and encourage direct investments to help boost growth as the US falls dramatically in attracting FDI flows, currently it attracts 17% of global flows down from approximately 30% in 2000. o The European Central Bank left its main interest rate unchanged at 0.5% and unveiled no new policies at its latest meeting, though it said it would keep an eye on interbank lending rates, which have been creeping up. o Despite starting with some less than favorable economic data, October managed to be a stellar month for emerging markets. o The turnaround came as a result of efforts from governments and central banks in those developing economies to support growth with looser monetary policy and other stimulus measures.

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International Markets Update

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