Asian markets rallied in relief on Tuesday after China reported its
economy had not slowed as far as many had feared, a rare glint of
brightness amid gloom over the global outlook.
The IMF tried to snuff out even that by trimming its forecast for 2015 world growth by three tenths of a percent to 3.5 percent, blaming weakness in Japan and Europe.
It also called on advanced economies to maintain stimulative monetary policies to avoid increases in real interest rates as cheaper oil adds to the risk of deflation.
In the end investors seemed thankful that China's growth of 7.3 percent at least managed to pip forecasts of 7.2 percent, while retail sales and industrial production were both firmer than expected in December.
"It seems the economy is in better shape than expected," said Darius Kowalczyk, a senior economist at Credit Agricole in Hong Kong. "Growth did slow in annual terms, but year-on-year growth stabilized and momentum also improved towards the end of the quarter."
Read more Click Here / www.trade4x.net
The IMF tried to snuff out even that by trimming its forecast for 2015 world growth by three tenths of a percent to 3.5 percent, blaming weakness in Japan and Europe.
It also called on advanced economies to maintain stimulative monetary policies to avoid increases in real interest rates as cheaper oil adds to the risk of deflation.
In the end investors seemed thankful that China's growth of 7.3 percent at least managed to pip forecasts of 7.2 percent, while retail sales and industrial production were both firmer than expected in December.
"It seems the economy is in better shape than expected," said Darius Kowalczyk, a senior economist at Credit Agricole in Hong Kong. "Growth did slow in annual terms, but year-on-year growth stabilized and momentum also improved towards the end of the quarter."
Read more Click Here / www.trade4x.net
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