(Jonathan Cable – Globe & Mail)
Global business activity picked up last month just as many central banks around the world loosen monetary policy further to try and drive up stubbornly low inflation and revive moribund economies.
Growth in China’s service industry accelerated and India’s expanded at an eight-month high while firms across the euro zone ramped up operations at the fastest rate in seven months, according to surveys published on Wednesday.
The survey results come days after the People’s Bank of China (PBOC) cut interest rates and mere hours after the Reserve Bank of India followed suit. The European Central Bank is about to embark on a €1-trillion ($1.4-trillion Canadian) stimulus program. Click here to read more.