The hits keep coming: IMF gloom and coordinated global rate cut. The tide of bad news keeps rising and global financial markets keep burning. Measures designed to stabilise markets and inject confidence are fanning the fires, as markets interpret ‘good news’, such as interest rate cuts and renationalisation of banks, as further signals of how desperate the times have become. The IMF has stated the world economy “is now entering a major downturn in the face of the most dangerous shock in mature financial markets since the 1930s". This is clearly the biggest test the battle-hardened commercial aviation industry has ever faced.
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