US economic growth was much slower than expected in the first quarter. The Commerce Department revealed its final estimate for GDP, which seemed to show that things were not going particularly well. The question is – what effect could this have on the Federal Reserve’s plans to wind down its stimulus programme?
China’s central bank has said it will guide interest rates to “reasonable levels” and provide cash to institutions. That statement calmed down the markets, but did not completely erase investors’ fears about China’s credit crunch.