@ShereenBhan Citing prolonged growth slowdown & a potential fiscal slippage, Moody's has cut India's outlook to ‘negative’ from ‘stable’, but maintains credit rating at ‘Baa2’. The Finance Ministry says ‘India's relative standing remains unaffected.’ Tune in to India Business Hour at 9 pm!
Ouch! Ifo Institute revises down German growth forecast for 2018-2019. Cuts 2018 forecasts by whopping 0.8% from 2.6% to 1.8%, and 2019 forecasts by 0.3% to 1.8% citing risk of a Euro crisis 2.0 through Italy and a trade war. Consensus growth forecast for Germany now <2% for 2018
“We may have the best economy we ever had," said Pres Trump, citing job growth, drop in unemployment, and other indicators. But made no mention of $2-trillion hike in the National Debt on his watch, and OMB forecast last week that Federal deficit this year will top $1-trillion.
S&P cuts outlook on Mexico from stable to negative, citing "a recent shift in government policy to reduce private-sector involvement in the energy sector," falling investor confidence and lower GDP growth, raising possibility of a sovereign downgrade:
Federal Reserve declines to raise key interest rate, citing slowing economic growth. .