Nouriel Roubini, the New York University economist who accurately predicted the U.S. housing slump would trigger a recession, said the Bank of Canada should take a stronger line on monetary policy to weaken the currency and spur the economy.
Singapore said it will spend S$9 billion ($7 billion) on health care and other benefits for the elderly, while providing companies with more funds to increase efficiency as the economy adjusts to a tighter labor supply.
China’s stocks rose to the highest level in a month after the government extended subsidies for automakers and analysts said consumer spending during the lunar New Year holidays will support economic growth.
Turkey’s credit rating outlook was cut to negative from stable by Standard & Poor’s, which said there’s a growing risk of a “hard economic landing” as reserves decline and policy makers spar over interest rates.
Investors will dump Japan’s bonds, stocks and currency should the government fail to regain control of its finances, said Makoto Utsumi, who heads the nation’s second-biggest ratings firm and helped shape its pension fund.
The lira weakened and stocks dropped on concern Turkey could be blacklisted for not following guidelines on anti-terrorism financing at a meeting in Paris this week and after Standard & Poor’s downgraded its outlook.