The International Monetary Fund on Tuesday warned that global economic growth was slowing more than expected and that a sharp downturn could require world leaders to coordinate stimulus measures. The global lender cut its global economic growth forecasts for 2019 and said key risks included a U.S.-China trade war and a potentially disorderly British exit from the European Union. Source: EuroNews
U.S. and Chinese senior officials spoke by phone this week, the second call since the late June summit at which the two sides agreed to a truce in their ongoing trade conflict. Source: Bloomberg
The Bank of Korea’s rate cut today is a mere reversal of a 25 basis point hike in November 2018 rather than a real policy stimulus for the economy, which is close to or already in recession. We believe this is just the beginning of the easing cycle. Source ING
Japan logged a goods trade deficit of ¥888.8 billion ($8.2 billion) in the first half of 2019, weighed down by sluggish exports to other Asian countries amid intensifying trade tensions between the United States and China, government data showed Thursday. Source Japan Times
