Global BUzz

The 2016 IIF G20 Summit: The G20 Agenda Under the Chinese Presidency, is currently holding the last of its two day meeting today.

The 2016 G20 Summit, the first ever G20 summit to be held in China, will take place on the 4th and 5th of September 2016, hosting a range of global economic policy makers.

This week’s meeting gathers various central bank governors and governments in Shanghai for talks with senior Chinese leadership ahead of the September G20.  The full agenda can be found here.  Global economic risks are said to be high on the agenda, however other key priorities proposed for the summit include ‘forging a new path for growth, more effective and efficient global economic and financial governance, robust international trade and investment, and inclusive and interconnected development.’

The UK Office for National Statistics Figures on Thursday confirmed that, although last year was the UK’s slowest annual pace since 2012, internationally the UK economy was the fastest growing of developed economies, with an increase of 2.2% last year. However, ING Bank has said that ‘Both businesses and consumers are clearly spooked by concerns about the strength of the global economy and financial markets, geopolitical risks and a looming Brexit’ demonstrating the impact of the Brexit debate.

Caxton FX analyst Nicolas Laser-Ebisch stated: ‘…the uncertainty surrounding the EU referendum and possible Brexit – the UK’s most historically unprecedented event of the last few decades – means that the coming months could see quite random currency movements.’

UK Chancellor Osbourne tweeted ‘with risks facing global economy most heightened since crash, now would be worst time for UK to take gamble of EU exit’ and that ‘EU referendum is about people’s jobs, livelihoods and living standards…EU exit would represent profound economic shock’.

For full speeches and reports of:

Director Christine Lagarde, International Monetary Fund. Click here.

Governor Mark Carney, Bank of England. Click here.