The World Bank cut its Russia growth forecast on Wednesday, warning of economic stagnation until 2016.» Read More
A cloud of uncertainty has been lifted as Greece’s lenders agree on new debt targets, paving the way for the country to receive another tranche of aid, but one expert says Greece needs growth.
Greece’s international lenders once again failed to reach an agreement on how to bring down its debt levels, delaying the release of vital aid to Athens and pushing the euro lower. Yet all is not lost for Greece and the single currency, analysts told CNBC.
The euro, which hit a two-month low against the dollar on Tuesday as hopes that Greece would receive essential aid soon, faces further losses as concern about Greece’s future grow, currency analysts warn.
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Will they or won’t they? That’s the big question markets have been asking about Spain for the past few weeks—whether the country will ask for a credit line from Europe’s rescue fund and trigger a bond-buying program by the European Central Bank (ECB).
Malaysia, which refused bailout from the International Monetary Fund (IMF) during the Asian financial crisis, says Greece should be given more time to implement reforms and clean up its finances, otherwise an overly-stringent austerity drive could push the country into a prolonged recession and make recovery even more unlikely.
After passing on interest rate cuts in the last two months despite mounting evidence of a deteriorating economy, the Bank of Korea (BoK) will likely move to ease monetary policy when it meets on Thursday, to bolster an economy that’s expected to grow at the slowest pace since 2009.
Lee Boon Keng , Head of Investment Solutions Group at Julius Baer, says despite the weak global growth forecasts by the World Bank and the IMF, a key positive for investors is the improving U.S. economy.
Frederic Neumann, MD & Co-Head of Asian Economics Research, HSBC thinks the euro zone crisis and the China-Japan dispute may dominate the discussion at the IMF & World Bank meetings in Tokyo.
Bert Hofman, Chief Economist, East Asia & Pacific at the World Bank said he expects the Chinese economy to grow 8.1% in 2013, boosted by the mainland's policy easing earlier this year and a rebound in global trade.
Geoff Lewis, Global Market Strategist at J.P. Morgan Asset Management, says the World Bank's forecast that the Chinese economy will grow at 7.7 percent this year suggests it is in the process of bottoming out.
As trade tensions between the U.S and China heat up, with both countries filing complaints to the World Trade Organization (WTO) on Monday, experts say the grumbling is no more than posturing in a politically important year for Beijing and Washington and should fizzle out eventually.
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As markets eagerly await a decision from the European Central Bank (ECB), which holds its policy meeting on Thursday, Robert Zoellick, former president of the World Bank warns that monetary easing will do little to solve the region’s debt crisis.
Beschloss is president and CEO of The Rock Creek Group, which provides investment and advisory services to large investors and utilizes customized hedge fund and emerging market portfolios.
Earlier this week ratings agency Standard & Poor’s said India could be the first BRIC economy to lose its investment grade status, which was followed a day later by data showing factory output had nearly stalled in April. While India’s recent dismal economic performance has had investors looking for exits, several experts tell CNBC things are not as bad as the headlines suggest.
After three years of monetary easing and unconventional policies to revive their economies from a slump, the Fed and the European Central Bank are now shifting the onus to politicians, urging them to fulfill their responsibilities.
The summer of 2012 is looking like an “eerie” echo of 2008 but euro zone sovereign debt has replace mortgages as the risky asset class that markets are anxious about, said Robert Zoellick, President of the World Bank.
China stocks may trade lower on Thursday, weighed down by uncertainties about the global economy and China's own fiscal policy response.
The world has "hopefully" gotten through the worst in terms of what some analysts have called "currency wars," according to Chad P. Bown, senior economist at the World Bank's Development Research Group, Trade and International Integration.