The International Monetary Fund (IMF) has reduced its expectation for global economic output for the fourth time this year, paring it to 3.2 percent this year and 2.9 percent in 2023.
Tag: Economy
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JAPAN SPENDS ALMOST ¥3 TRILLION TO SALVAGE THE YEN
Last week, Japan’s government spent ¥2.84 trillion, the equivalent of $19.7 billion, to keep the yen’s value from falling even further against the dollar.
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HONG KONG’S HOME PRICES CRASH
During the last week of September, no new apartments were sold in Hong Kong, an island with almost 7.5 million people, the Financial Times reported.
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We Are in for an Economic Collapse of the Likes Not Seen in Our Lifetimes
Gerald Celente explains how the current economic climate is the worst in modern history.
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U.K. CENTRAL BANK GOES LOOSE
On 29 September, the Bank of England (BoE) suspended its plans to tighten monetary policy and bought £1 billion in government bonds to stabilize the nation’s debt and pension markets after new prime minister Liz Truss announced her government would initially borrow more than £72 billion to subsidize household energy bills.
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RUPEE HITS BOTTOM AND FALLS THROUGH IT
The value of India’s rupee fell further to set a new lifetime low against the dollar on 28 September, touching 81.90 to the buck.
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IMF LENDS RECORD AMOUNT WITH MORE TO COME
The International Monetary Fund (IMF), the international lender of last resort, has loaned a record $140 billion so far this year to aid troubled countries, at least five of which already are in default with more on the brink, the Financial Times reported.
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SPOTLIGHT: BIGS GETTING BIGGER
Each week, we report instances where the money junky hedge funds, private equity groups and the already big companies swallow another piece of the global economy.
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SPOTLIGHT: CHINA
For the first time since 1990, China’s economic production this year will be less than the rest of Asia’s, the World Bank has predicted.
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IMF SCOLDS U.K. GOVERNMENT OVER PLAN TO CUT TAXES AND BORROW
The International Monetary Fund (IMF) gave a “stinging rebuke” to the government of British Prime Minister Liz Truss over her plan for massive tax cuts—the most drastic since 1972—while also initially borrowing more than £72 billion to subsidize household energy bills, the Financial Times reported.