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Category Archives: Asia

Prospects for growth worsen

The Confederation of British Industry (CBI) has slashed its forecasts for growth in the UK. It had previously predicted that we would see growth of 1.3% this year and 2.2% in 2012, but these have now been reduced to only 0.9% this year and 1.2% next year. The CBI does not believe that we will slip back into recession this … Continue reading

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Setback in global financial stability says IMF

Progress to restore global financial stability has suffered a setback in advanced economies, the International Monetary Fund said in its latest Global Financial Stability Report, with markets still sensitive to negative surprises. The IMF says that although we can continue to expect a recovery and a gradual improvement in financial stability, considerable risks still remain. These risks were summarized as: … Continue reading

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Upside down Economics

Yesterday, the Reserve Bank of Australia raised interest rates from 3.75% to 4.0%, which is the fourth increase in rates since last October. Yes, I did say ‘raised’ interest rates. While the rest of the world has been digging itself out of recession the Australian economy grew at 2.7% during 2009. This is at a time when other major economies … Continue reading

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Asia recovering quickly

Asia is quickly rebounding from the global crisis according to the International Monetary Fund (IMF) in their latest report on the region. In the new Regional Economic Outlook which covers Asia and the Pacific, it forecasts an acceleration in economic growth from 2.75% in 2009 to 5.75% in 2010. These figures are both higher than previous estimates.   Why has … Continue reading

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Asia to lead the world economy back into growth

Developing Asia, which excludes Japan, Australia and New Zealand, is set to expand growth by 3.9% in 2009 and 6.4% in 2010, according to the Asian Development Bank (ADB). These growth figures have been raised from the forecast last March of 3.4% and 6.0% respectively.   “Despite worsening conditions in the global economic environment, developing Asia is poised to lead … Continue reading

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