Top
New York  London  GMT  Tokyo  Sydney 

IFO,IMF and G7

By   || August 27, 2009 at 15:55 GMT
|| 0 comments || Add comment

The IFO institute have announced that their previous forecasts for 2009 and 2010 growth are too pessimistic and that upward revisions are planned. They add that growth of up to 1% is possible in 2010 and that 2009 is likely to be better than -6%. Elsewhere an IMF spokeswoman says that a global economic recovery is in sight and may be a little stronger than expected.  She stresses that the recovery is still likely to be muted and policy supports need to remain in place. Finally a few comments from a G7 source that syas that they do not expect much discussion of the status of the Dollar as a reserve currency at the upcoming G20 meeting, echoing comments made from the Russian Deputy FinMin made a few days ago.

The dollar has lost a bit of ground in the last hour or so, with Eur/Usd now back at 1.4265 after hitting a low at 1.4220 when stocks were at the height of their sell off. Cable has even rallied now above 1.62 as 1.6150/60 support holds once again.

Share and Enjoy:
  • RSS
  • Facebook
  • Twitter
  • LinkedIn
  • email
  • Print
  • Add to favorites
  • del.icio.us
  • Digg
  • NewsVine
  • StumbleUpon

Add a comment

Comments are closed.

Bottom