A separate chapter in the IMF’s regular update on the world economy, which is expected to highlight a weaker outlook for global growth, also predicted more pain ahead for commodity exporters amid continued low prices for oil and other raw materials.
European markets ended solidly in negative territory as concerns over China returned to the forefront, after some disappointing economic data, prompting further weakness in commodity prices. In America, the US crude benchmark CLc1, West Texas Intermediate (WTI) settled down...
Wall Street started the week with another round of selling, placing the market squarely in “correction” mode. This is just the latest data point out of the world’s second- biggest economy that suggests economic softening.
The report, by Rebecca Williams and Adam Richardson, says it is important the Reserve Bank knows what a neutral rate would be, so it can gauge how expansionary or contractionary its current monetary policy settings are for the market.
In a speech late Thursday, Fed Chair Janet Yellen, who spoke a week after the Fed delayed a long-anticipated rate hike, said she and other Fed policymakers do not expect recent global economic and financial market developments to significantly affect the central bank’s policy.
– Reuters pic, September 23, 2015.Brent crude oil rose towards US$50 RM217) a barrel on Wednesday as a drawdown in U.S. crude oil stocks outweighed the negative impact of weak economic manufacturing data from China.