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The World Economy

Published online by Cambridge University Press:  26 March 2020

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Abstract

  • • Euroland will start in 1999 with interest rates around 3.75 per cent, growth of 2.6 per cent and subdued inflation.

  • • Economies on the periphery of the Euro-zone are diverging sharply from those in the core.

  • • Japan's Y16 trillion fiscal package will lift output by under 1 per cent in 1998 and 0.5 per cent in 1999.

  • • A clean-up of the Japanese financial sector is needed to restore consumer confidence and allow a sustained recovery.

  • • Asian export recovery has been delayed because of the Japanese downturn and difficulties in restoring trade finance.

  • • US interest rates will remain on hold as buoyant domestic demand is offset by the disinflationary impact of the Asian crisis.

Type
Articles
Information
National Institute Economic Review , Volume 164 , April 1998 , pp. 3
Copyright
Copyright © 1998 National Institute of Economic and Social Research

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