Dancing on the debt-ceiling - Interest and exchange rate forecast


Dancing on the debt-ceiling - Interest and exchange rate forecast

Until recently, all eyes were on the so-called “tapering” of the Fed's quantitative easing purchases. But talks about monetary policy have been put on hold for the time being, with fiscal policy moving up the agenda.

Economic Analysis

11 October 2013

The US Government went on shutdown and the stalemate over the “debt ceiling” highlights the risk that the US may default.

We don’t think this will happen, but all this uncertainty is unhelpful for the fragile global economic recovery. Meanwhile, there were no changes from the Bank of England or the European Central Bank.

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This material is published by The Royal Bank of Scotland plc (“RBS”), for information purposes only and should not be regarded as providing any specific advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. This material should not be reproduced or disclosed without our consent. It is not intended for distribution in any jurisdiction in which this would be prohibited. Whilst this information is believed to be reliable, it has not been independently verified by RBS and RBS makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information. Unless otherwise stated, any views, forecasts, or estimates are solely those of the RBS Group’s Group Economics Department, as of this date and are subject to change without notice. The classification of this document is PUBLIC. © Copyright 2013 The Royal Bank of Scotland plc. All rights reserved.

 

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