Worldwide

Lagarde Expects More Market Volatility With Trade Trouble

Lagarde Expects More Market Volatility With Trade Trouble”

The meetings in Bali, Indonesia, this week were overshadowed by a spate of financial market turmoil and by the threat to global growth from the trade clash between the US and China over Beijing's technology policies.

China central bank governor Yi Gang said on Sunday (Oct 14) that he still sees plenty of room for adjustment in interest rates and the reserve requirement ratio (RRR), as downside risks from trade tensions with the United States remain significant.

"It's not going to be in the interest of anyone in the world ... for us to get behind the curve in the U.S. by moderating what we think is the right course of domestic policy", Quarles told a finance conference in Bali.

Speaking at a press briefing, US Department of State spokesperson Heather Nauret said: "So we understand that Pakistan has formally requested assistance from the International Monetary Fund".

Mnuchin said on Saturday that he had been told by Chinese delegates that Beijing had no intention of engaging in competitive devaluation during the trade war. -China trade confrontation would hobble global economic growth, as the fund lowered its forecasts for this year and next.

IMF Chief also confirmed the news of meeting with the Minister and other Pakistani officials and said in a statement, "During the meeting, they requested financial assistance from the IMF to help address Pakistan's economic challenges".

IMF Managing Director Christine Lagarde said that while global growth is still strong, it has leveled off.

"The recovery is increasingly uneven, and some previously identified risks have partially materialised", the communique said, referring to threatened tariffs.

Mnuchin on Saturday said Chinese officials told him at the Bali meetings this week that a further depreciation of China's yuan currency was not in the country's interests.

The central bank chief said growing trade tensions with the United States had led to negative market expectations and created uncertainties.

As the trade war rages on, White House economic advisor Larry Kudlow said Thursday that the US administration is working on a meeting between US President Donald Trump and Chinese President Xi Jinping at the G-20 summit in Argentina next month. Washington accuses Beijing of manipulating its currency in order to gain trade advantages.

"Risks are increasingly skewed to the downside amid heightened trade tensions and ongoing geopolitical concerns, with tighter financial conditions particularly affecting many emerging market and developing countries", the International Monetary Fund said in a communique.

China's monetary stance was still basically neutral, he said.

Beijing and Washington have slapped tit-for-tat tariffs on each other's goods, and plans for bilateral trade talks to resolve the dispute have stalled, triggering a market rout and adding further pressure on China's already weakening economy. The strong dollar and interest rate hikes by the US Federal Reserve have made conditions "a little tight" and "capital has been flowing out of some developing nations", he said.



Like this

loading...
loading...

Latest


15 October 2018
Akshay Kumar cancels Housefull 4 shoot over Sajid Khan, Nana scandal
She would be furthermore humiliated by him with comments on her breast and ass being non-existent for her to be an actress. I don't in any way endorse this behaviour and stand in solidarity with any woman who has been hurt".

15 October 2018
Jamie Lee Curtis' home avoided by trick-or-treaters on Halloween
I was very clear with the filmmakers that she used the weapons (that) were intended for self-defense for her and her family". Curtis steered production away from her character stockpiling a cache of weapons, she told USA Today .

14 October 2018
Khawaja steers Australia to battling draw with Pakistan
He also became only the sixth batsmen from Australia to score two fifties and aggregate in excess of 200 in a Test in Asia. Khawaja found the ideal partners in debutant Travis Head (72, 175 balls, 5 fours) and Paine.

14 October 2018
Rigged motorcycle kills fourteen in bombing at candidate rally in Afghanistan
Nazefa Yusoufi Beg is one of 417 women vying for seats in the 249-member chamber, alongside 2,148 male candidates. At least 68 people were killed when a suicide bomber detonated explosives at an election rally.

14 October 2018
Knicks waive Noah to make French center's departure official
When he became a free agent after the 2015-16 season, he chose to sign with his hometown Knicks, spurning other offers. The No. 9 overall pick by the Bulls in 2007, Noah averaged 8.9 points and 9.3 rebounds per game in his 11-year career.

14 October 2018
Green grants for hybrid cars axed
The Government is facing criticism from the automotive industry for its decision to scrap the plug-in hybrid vehicle grant.

14 October 2018
Doug McDermott sounds off on appreciation of Jimmy Butler’s leadership style
Center Karl-Anthony Towns would not address what happened at that practice or whether a players' meeting was held Thursday. Butler told ESPN following Wednesday's practice that his issues with the Timberwolves have not been fixed.

14 October 2018
India 308-4 at stumps in 2nd West Indies Test
However, West Indies had started off well by dismissing India for 367, keeping the first innings lead down to a mere 56 runs. Shaw's 45-ball knock was inclusive of four boundaries, while Rahul smashed two fours and a six during his 53-ball 33.

14 October 2018
Searchers find body in hurricane-stricken town
The hurricane eyewall passed directly overhead, severely damaging almost every building. How many others were not so fortunate was still not clear. "I didn't recognise nothing.

12 February 2018
Top 10 Gambling Nations Ever
According to the European Gaming and Betting Association, it violated EU rules and thus requested European commission to amend it. There are VLT or Video Lottery Terminals ticket lotteries, bingo halls, race tracks, commercial casinos available in the country.