Economic & Investment Commentary for quarter ended 30 Sept 2014
During the September quarter, mixed economic data indicated that activity has hit a soft patch in the global economy.
The Eurozone continued to struggle despite low (and even negative) interest rates. Inflation fell to near zero and German industrial production experienced is largest decline since January 2009. The European Central Bank is moving towards a policy of printing money to fuel the ailing economies. However, the plan to buy covered bonds and asset backed securities from October 2014 is seen in some quarters as too little, too late.
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