The International Monetary Fund cut its global economic growth forecast for 2016 on Tuesday as it expects a number of factors to weigh on world economies. Global growth for this year is seen at 3.4 percent, up from a 3.1 percent forecast for 2015, but 0.2 percent lower than previously forecast, the IMF’s World Economic …
Australia’s banks are well positioned despite global market turmoil and concerns over the Chinese economy but profit growth is set to slow in 2016, according to a leading ratings agency. Fitch Ratings expects increased funding costs, pressure on cost management and a modest increase in loan impairment charges to put a lid on profit growth. …
Fitch: Australian Banks are Well Positioned for 2016 Read More »
I appeared on Channel News Asia again this morning at 6:20am SGT, via Skype. My questions and my responses in the form of brief notes are below: Q1. China is expected to report today that its economy grew at around 7% last year, the slowest pace in a quarter-century. Will the news going to depress …
The Australian dollar has skidded to a seven-year low as commodity prices plunge and global stock markets tank on concerns around the Chinese economy and broader global growth prospects. At 7.20am (AEDT), the local unit is trading at US68.61c, down from US69.54c on Friday. The currency plunged to US68.27c during the Saturday morning session, the …
