TAG: Economy
On Tuesday's (01/11/16) newspaper review with BBC World News, OBG managing editor Oliver Cornock discusses the UK's safety following a warning from the MI5 boss, Andrew Parker, on Russia's threat to the UK's stability, and the post-conflict future for Iraq following the advance into Mosul by special forces. The review also covers the mixed reactions from the Bank of England Governor's extended tenure and other recent global news
Mexico is on track for a GDP growth rate of below 2.4% for the year 2016 according to the International Monetary Fund (IMF), while the Ministry of Finance and Public Credit’s growth estimations for 2016 are between 1.7 and 2.5%. Core inflation is at 3%, a figure that fits the Bank of Mexico’s target of between 2 and 4%. In the US, the Federal Reserve announced an increase of +0.25% from to 0.75 in interest rates before the end of 2016, alongside the election of Donald Trump, a top contributing factor influencing the strength of the Mexican peso. These indicators paint a pic- ture of an economy facing macroeconomic risks including the potential devaluation of the peso, a higher inflation, an expected increase in public debt and rising interest rates.
On Thursday's (22/12/16) newspaper review with BBC World News, OBG Editor-in-Chief, Oliver Cornock discusses the short-term pain and long-term gain of the Saudi budget announcement, and the enormity of its impact on the global economy. The review also discusses Italy’s struggling banking sector following the cabinet’s approval of the state-bailout for Banco Monte dei Paschi di Siena, the third largest Italian commercial and retail bank by total assets.