ON THE MONEY
STUART THEOBALD: Business needs help in renewing its faith in the future
The multi-decade low business confidence reading last week, which came out at 21 out of 100 (50 indicates a neutral outlook for the RMB/BER index) was shocking.
It is the lowest since the 1998 emerging markets crisis, when interest rates hit 25.5%. It was worse than the global financial crisis in 2009 when the economy shrank for three quarters.