Added: Nov 19, 2008
From: ubseconomics
Duration: 4:22
Monday 13 October 2008 - Some tentative agreementPresented by Andrew Cates+ This weekend's G7 and IMF meetings have yielded tentative agreement about what needs to done to stabilize markets and the reaction to this so far across Asia has ? on the whole - been positive. The G7 plan agrees in principle to ensure liquidity in the inter-bank funding market, re- capitalisation of troubled banks, deposit insurance and protection of major financial institutions. .+ Politicians across Europe either are about to or will shortly announce much more detail about the specifics of their plans. The US has been on the sidelines through much of this though Treasury Secretary Paulson did say this weekend that pumping government funds into the system was a top priority.+ The issue that many are probably still uncomfortable with is whether these initiatives are arriving too late to prevent a large scale de-leveraging of private sector balance sheets in the period ahead, with all that implies for economic growth.+ The US bond market is closed today for the Columbus day holiday. The week ahead on the economic front though is quite busy with the highlight a speech by Bernanke on the economic outlook on Wednesday. Markets are likely to remain focussed on government action plans along with indicators of money and credit market stress.
Channel: News
Tags: andrew bailout bernanke cates crisis deleveraging economics fed financial g7 growth imf markets paulson stabilize ubs
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