“A moderate recovery”, “ready to act if necessary”, “no sign of deflation”. The wording from the European Central Bank remained the same this week. The governing council left interest rates unchanged without introducing other measures. The only news was inside the economic forecast, now stretching into 2016.
ECB President Mario Draghi also expressed concern over the geopolitical risks from Ukraine. But behind the worst stand-off between superpowers since the Cold War, a conflict already rages on. They call it the ‘Gas War’, and potential casualties include Europe’s business and domestic energy users.
China sure has no energy problems. If anything, the country used too much in the last three decades to churn out double-digit growth. Problem is, now you often can’t walk in Beijing without wearing a mask. The new leadership decided it is time to “go green”.
Thinking about moving to Asia? Beware of Singapore – for the sake of your wallet: it has just been crowned the most expensive city in the world.
All that in this latest edition of Business Weekly.