Increasing market uncertainty over the condition of banks in early 2016 was not due solely to concerns about global economic growth but also above all reflected concerns about banks’ non-performing loans and declining profitability amid low interest rates and subdued growth.
In recent years, the growth of international trade has slowed to the level of the GDP growth rate. Is the most hectic phase of globalisation already history?
In many countries, a rapid rise in debt has led to financial sector problems and a pronounced slowdown in economic growth. In China, too, sustainable management of the public finances would require a slowdown in the pace of debt accumulation.
The cover and transparency of China’s GDP statistics need to be improved. According to the statistics, the deceleration in growth has been very evenly spread, which has increased suspicions over the reliability of the data.
The BRICS countries, which have been supporting global growth, are now facing headwinds. Within the group, only the outlook for India's economy remains positive.
The emission scandal around the German car manufacturer Volkswagen immediately raised questions and concerns about the state and outlook for the EU’s automobile industry.
The ECB Governing Council decided in March 2016 on a package of measures to achieve the price stability objective. The monetary policy measures and forward guidance together provide a comprehensive package.
The euro area economy has continued to recover. Despite the positive developments, inflation in 2015 was zero. The low inflation is primarily due to the low price of oil.
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