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...
Biotech stocks had their worst week since 2008 last week, as stocks like Gilead Sciences (GILD), Amgen (AMGN), Biogen (BIIB) and Regeneron (REGN) got hammered following Hillary Clinton’s drug-pricing tweet.
The greenback rose on Friday as dollar bulls took heart after Federal Reserve Chair Janet Yellen kept the door open to a hike in interest rates later this year, a week after the central bank delayed aa long-anticipated move.
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.
To help maintain liquidity in the mortgage market, the committee will continue to reinvest principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities, as well as rolling over maturing Treasury securities at...