Oh today’s show we are talking about the current macro economic climate and provide a forecast for interest rates for the second half of this year.
The fact is that we live in an interconnected world and the attempts by central bankers to look at the economic conditions within a nation as a closed system is extremely naive.
We have Germany in recession having experienced two consecutive quarters of economic decline. New Zealand is now officially in recession.
The biggest news in the past week is that China announced a drop in interest rates and is launching a massive public infrastructure spending program aimed at stimulating its flagging economy. As the largest manufacturing economy in the world, China’s manufacturing is a bellwether for global consumption. The promised economic jolt from China reopening from the COVID pandemic lockdowns failed to materialize. It was an economic whimper.
Host: Victor Menasce