by Ambrose Evans-Pritchard
Telegraph.co.uk
The bank warned that banks “may be at particular risk” in countries that have let rip with the biggest asset bubbles. The institution cut its growth forecast for the global economy to 2.2pc this year, a world recession under the bank’s traditional definition, chiefly due to faltering momentum in China and the rest of Asia.
The World Bank said real interest rates were likely to jump by up to 270 points in the more heavily indebted BRICS states and other emerging markets as the West unwinds quantitative easing, and the tightening cycle starts in earnest.
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