Spain: Christine Lagarde Angers Spain With Repeat Prescription Of Austerity
Christine Lagarde, the head of the International Monetary Fund, declared that Spain has made progress in turning the corner on the crisis but explained that much work still needs to be done.
Global: Global Markets Steady As Ukraine Impact Fears Ease
According to BBC News, global markets have steadied on Tuesday, with Russian markets opening up 3.0%. The recovery came despite Russia’s threats to abandon the US dollar as the country’s reserve currency.
Australia: RBA Reiterates Likely Period Of Rate Stability
As Bloomberg reports, Australia’s central bank reiterated that it’s likely to maintain a period of record-low interest rates and renewed a reference to the currency’s strength. Governor Glenn Stevens announced that the Bank would leave the rate unchanged, which most analysts attribute to the concerns regarding unemployment and the still-too-strong aussie.
Ukraine: Obama Team Announces $1 Billion In Aid To Ukraine
USA Today reports that the US are giving to Ukraine EUR .01 billion in economic and energy aid amid Russian military activity in Crimea. The Obama administration is also considering economic sanctions against Russia.
United Kingdom: UK Construction Sector Reports Mixed Data After February Flooding
The Guardian reports that the Markit/CIPS UK construction purchasing managers’ index (PMI) fell in February after reaching a six and a half year high in January. Constructors blamed the flooding last month for the decrease in construction activity, even though other parts of the industry seemed largely unaffected.