RBI Monetary Policy report: Post-COVID-19 estimates suggest global economy could slump into recession in 2020

“The oppressive force of the novel coronavirus (COVID-19) on weak or moderating high-frequency indicators of activity, barring agriculture, indicates that the implicit real GDP growth for Q4:2019-20 in the NSO’s data release could be undershot by a fair margin. In fact, the widening incidence of COVID-19 in March 2020 may produce downward pulls to Q4 […]

Global investors clamour for safe haven in UK government bonds

“The UK is still a large market for bonds and sterling is still a reserve currency behind the dollar and the euro. And the UK is not different to any other country in needing extra funds to support extra spending. It is not an outlier,” he said.

Brexit economy: a turbulent year ends on steadier ground

The squeeze on British households intensified over the past month as the latest figures showed inflation edged higher to 3.1% in November from 3% in October. The Brexit vote has been directly blamed by economists, who say the fall in the value of the pound after the referendum has made it more expensive to import […]

Global economy at risk a decade on from financial crisis, says WEF

The UK slipped one place to eighth, although the WEF said the decline was due to a better performance from other countries rather than the impact of the Brexit vote. The UK’s overall competitiveness score was the highest since the WEF started using its current method of calculating competitiveness a decade ago.

Coronavirus impact: Evidence mounts that the global recession is already here

From India to Italy, coronavirus lockdowns have closed businesses and kept billions of people homebound for weeks, provoking a simultaneous supply and demand shock that’s snarled global production and logistics networks built without sufficient capacity to absorb a jolt of this magnitude.Companies including Airbus SE in Europe and FedEx Corp. in the U.S. have cautioned […]

GLOBAL MARKETS-Oil skids on oversupply fears, U.S. stock futures jump

Also weighing on the pound were fears other senior government officials who were in the same briefing as Prime Minister Boris Johnson could be affected by the virus, said Karl Schamotta, chief market strategist at Cambridge Global Payments in Toronto, Canada.

GLOBAL MARKETS-Oil skids on oversupply fears, stocks jump on virus slowdown

The gains came despite New York Governor Andrew Cuomo cautioning that it was not yet clear whether the crisis in the state had reached a plateau. Investors took solace from the fact that COVID-19 cases appeared to be reaching a peak in Europe with Italy seeing the number of patients in intensive care falling for […]

GLOBAL MARKETS-Oil slips on oversupply fears, but stocks jump on virus slowdown hopes

“Focus in markets will now turn to the path out of lockdown and to what extent containment measures can be lifted without risking a second wave of infections,” National Australia Bank analyst Tapas Strickland wrote in a note.

GLOBAL MARKETS-Stocks jump on virus slowdown hopes, but oil slips on oversupply

“Focus in markets will now turn to the path out of lockdown and to what extent containment measures can be lifted without risking a second wave of infections,” National Australia Bank analyst Tapas Strickland wrote in a note.

GLOBAL MARKETS-Markets fall as virus woes strike again

“Don’t fight the Fed” is the old adage, but markets seem to be doing their best to do that anyway – a new set of Fed FX swap lines on Tuesday was meant to reassure markets that the U.S. central bank was there to ensure an adequate supply of dollars.