Headlines Discussed at LNWM’s Monday Morning Briefing
Week of Jan. 27 – Feb. 2, 2014
- U.S. GDP grew a stronger-than-expected 3.2% in fourth-quarter 2013, according to initial estimates, due to higher personal spending by consumers (+3.3%) and fixed investment by businesses (+3.8%), as well as especially strong export growth (+11.4%).
- Turkey’s central bank raised the overnight lending rate to 12%, up from 7.75%, in an attempt to halt devaluation in the currency (the lira).
- South Africa raised its overnight lending rate for the first time since 2008, to 5.5% (up from 5%).
- “Bitcoin Millionaire” Charlie Shrem, the CEO of BitInstant, was arrested on money laundering charges.
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