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Markets are braced for another turbulent week as Ukraine added to growing fears about the world’s economic health after securing a $16.5bn (£10.4bn) emergency loan from the International Monetary Fund yesterday.
In Britain, sterling is expected to come under renewed pressure this week following its sharp collapse on Friday when the economy suffered its first quarterly contraction in 16 years. The pound crashed more than 3½ cents against the dollar to $1.5837, and experts predict it could slump as low as $1.40 in the next few weeks.
Pressure is mounting on the Bank of England to intervene with an emergency interest rate cut to help the ailing economy. Dr Gerard Lyons, chief economist at Standard Chartered, said an “immediate inter-meeting cut” was needed, calling for the Bank to slash rates by at least 1pc.
Originally posted by Vitchilo
Russia is on the brink too...
Originally posted by Mdv2
That's interesting. You don't hear the Russians while their stock market has been closed out of desperation several days in the last three months. Look at the chart how much it has lost over the past months: From more than 2000 to about 500 points.