| Author: | |
| Title: | World outlook |
| Journal: | Economic Outlook
1997 : MAY, VOL. 21:3, p. 22-25 |
| Index terms: | STATISTICS GROWTH INFLATION EUROPEAN MONETARY SYSTEM |
| Language: | eng |
| Abstract: | There has been a modest pick-up in world growth lately. Stronger G7 growth is expected to lead to a slight rise in inflation. Oil prices have been volatile over the last year. World interest rate cycle has turned: the interest rates are expected to rise slowly early in 1998. The dollar is expected to weaken against the Yen once the U.S. economy starts to slow. The decision has not yet been made , how the conversion rates between the Euro and national currencies will be determined. If EMU starts on time the currencies of the founder members will be locked against Euro in just 20 months time.It has been difficult for governments to meet their fiscal targets last year because of lower than expected growth and and higher employment. EMU is still expected to start in 1999 but without Britain, Italy or Spain. |
SCIMA