Author (Corporate) | International Monetary Fund |
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Series Title | IMF Survey |
Series Details | 21 October 2008 |
Publication Date | 21/10/2008 |
ISSN | 0047-083X |
Content Type | Journal | Series | Blog, Overview |
The financial crisis has reached extraordinary proportions in the summer and autumn of 2008. At the same time commodity prices increases have boosted headline inflation, depressing consumption. Growth is expected to stagnate in the near term in most advanced European economies as asset price booms deflate and banks curb credit to reduce leverage. Growth will slow down significantly in the emerging economies in Europe as well. Mutually reinforcing deterioration in financial and economic conditions is the main downside risk to the outlook. Stabilising financial conditions and nurturing growth are the key policy priorities. In addition to the outlook, the report presents analytical work on the impact of high commodity prices, the turnaround in the credit and asset price cycles, and the macroeconomic effects of cross-border labor flows. |
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Source Link | Link to Main Source http://www.imf.org/external/pubs/ft/survey/so/2008/CAR102108A.htm |
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Subject Categories | Economic and Financial Affairs |
Countries / Regions | Europe |