Ambrose Evans-Pritchard: Global money supply flashes surprise slowdown warning

Section:

By Ambrose Evans-Pritchard
The Telegrah, London
Tuesday, April 2, 2018

Key monetary indicators in the United States, Europe, Japan, and China are flashing signals of an economic slowdown later this year, raising fears of a global recession in 2019 and a stock market slump without a shift in policy.

Monetarist experts warn that the global money supply is slowing much faster than widely appreciated, suggesting that the shift away from quantitative easing by the major central banks is already starting to have profound consequences.

... Dispatch continues below ...



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The data appear incompatible with forecasts by the International Monetary Fund and other global bodies for a synchronized global upswing this year.

The growth rate of the "broad" M3 money supply in the United States -- covering a wide range of deposit accounts as well as cash -- has dropped to a six-year low and is flirting with "stall speed." Over the last three months the measure has slumped to an annual rate of 2 percent in the U.S. and 1.2 percent in Japan. ...

... For the remainder of the report:

https://www.telegraph.co.uk/business/2018/04/02/global-money-supply-flas...

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