Real gross domestic product — the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes — increased at an annual rate of 1.5 percent in the third quarter of 2015, according to the “advance” estimate released by […]
Washington, DC — GE (NYSE: GE) announced today that it will invest up to $1 billion in the power, oil and gas, and healthcare sectors to support Indonesia’s accelerated economic growth. The announcement was made on the sidelines of a meeting between the President of the Republic of Indonesia, Joko Widodo, and the President of […]
1. We, the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development, held our ninety-fourth meeting in Lima, Peru on October 8, 2015 with Alain Bifani, Director-General of the Ministry of Finance of Lebanon in the Chair; Mauricio Cárdenas, Minister of Finance and Public Credit of Colombia as First Vice-Chair; and Sufian Ahmed, Minister […]
Iceland today repaid, ahead of schedule, all of its remaining obligations to the International Monetary Fund (IMF), amounting to SDR 236.9 million (about US$334 million). The single repurchase today consolidates 11 separate repurchases that would otherwise have fallen due between October 14, 2015 and August 31, 2016. The obligations were contracted under the Stand-By Arrangement […]
ST. LOUIS, MO. A majority of investors have taken advantage of low interest rates, according to the third quarter Wells Fargo/Gallup Investor and Retirement Optimism Index survey. The survey of 1,006 U.S. investors was conducted August 7-16; the median age of the retired investors is 70 and the non-retired is 45. Six in 10 investors […]
Information received since the Federal Open Market Committee met in July suggests that economic activity is expanding at a moderate pace. Household spending and business fixed investment have been increasing moderately, and the housing sector has improved further; however, net exports have been soft. The labor market continued to improve, with solid job gains and […]
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy in order to meet the 2% inflation target and in a way that helps to sustain growth and employment. At its meeting ending on 9 September 2015, the MPC voted by a majority of 8-1 to maintain Bank Rate at 0.5%. The Committee voted […]
After falling for five consecutive months, real gross domestic product rose 0.5% in June. The increase in June was broad based, led by mining, quarrying, and oil and gas extraction and, to a lesser extent, wholesale trade, the finance and insurance sector as well as arts and entertainment. Following five consecutive monthly declines, the output […]
Global investors have shifted their attention from Greece to China amid continued concern of a Chinese recession, according to the BofA Merrill Lynch Fund Manager Survey for August. Respondents are scaling back their expectations for economic growth. • China recession is now rated the number one “tail risk” by 52 percent of panel. • Fifty-three […]
While companies around the world are taking note of the growing emergence of mobile and digital payment applications, many treasury departments still grapple with the continued existence and enormous cost of paper payments. Clients at the Bank of America Merrill Lynch Conference on Payments and Commercial Card continued to identify that fully converting their payments […]
