Growth forecasts reported by the International Monetary Fund (IMF) show that rising inflation and uneven growth threaten a balanced recovery of the global economy. While the IMF still assumed global growth of 6% for this year in July, the growth rate to be published next week will be less exuberant, IMF chief Kristalina Georgieva said in a speech. According to the IMF, the obstacles and risks to the economy have increased.
The U.S. trade deficit reached a record high in August, boosted by imports as businesses rebuild inventories. The trade deficit surged 4.2% to USD 73.3 billion last month, the highest since the U.S. government started tracking the series. Trade has lagged GDP growth for four consecutive quarters.
Figures published by the World Trade Organization (WTO) show that Asia is recovering fastest following the corona crisis. Apart from the relatively small contraction in Asia, the continent reports the strongest growth in trade since March 2020. Growth is lagging the most in South America, the Middle East and Africa.
The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap increased with 4 basis points to 0.19% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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