Moody’s Analytics chief economist Mark Zandi has provided his take on crude-oil futures remaining at the current high range of 85 to 90 dollars per barrel. He says global GDP expansion could drop by up to 0.4 percentage points in the coming year.
Japan’s government is considering utility subsidies to help smaller companies and households amid a higher energy-price outlook. That’s due to the elevated futures prices for crude oil and natural gas.
Canadian Prime Minister Mark Carney says the world is “more divided,” and “more dangerous.” But he wants to ensure his country can still prosper. He believes likeminded “middle powers” including Japan have much to gain by strengthening ties.