The failure of policy makers to fix deep-rooted problems in the world’s largest economies has pitched the globe into the worst slow-growth rut in nearly three decades. And it could be about to get even worse, the International Monetary Fund said Thursday, signaling another downgrade ahead in its global growth outlook. Source The Wall Street Journal
- The announcement comes three months after the central bank said two hikes would be appropriate in 2019.
- The central bank also says it will complete its balance sheet roll-off program at the end of the September.
- The Fed also reduced expectations in GDP growth and inflation and a bump higher in the unemployment rate outlook.
The race to build the next generation of super-fast mobile-data networks has begun in Germany, which started auctioning off its spectrum licenses for 5G on Tuesday. Source: NPR
European and German bank watchdogs signaled they won’t simply bow to the desire to create the kind of national champions that the German government has in mind by brokering a merger between the country’s two biggest listed banks. Source: Bloomberg
