The staff-level agreement is subject to approval by the IMF Executive Board, with its consideration expected by mid-July, the Washington-based lender said in a statement
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Investors across Asia earmarked China’s ballooning levels of municipal borrowing as the region’s number one financial risk this year in a survey that ranked their biggest concerns. China local government financing vehicles, or LGFVs, were the most frequently cited top risk in a Bloomberg survey of 53 economists, money managers…
(Bloomberg) The Federal Reserve, Bank of England and Swiss National Bank all proceeded with expected interest-rate increases this week, reinforcing their commitments to curb inflation despite turmoil in the banking sector. Policymakers in the US and UK hiked by a quarter point while those in Switzerland opted for a half point. All three signaled more increases could be in store. The UK was especially under pressure to tighten policy after a report earlier in the week showed consumer prices advanced 10.4% in February, surpassing all estimates in a Bloomberg survey and bucking economists’ expectation of a slowdown. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy: World Iceland’s central bank extended western Europe’s longest policy-tightening campaign with a full percentage-point increase, while the Philippine central bank shifted to a smaller hike. Norway, Taiwan and Nigeria also kept hiking. Officials in Turkey l