In the mining town of Port Hedland, 1,500km north of Perth, modest prefabricated homes called fibro shacks, which were changing hands for more than A$1m four years ago, are now failing to find a buyer at a third of the price.
The European Central Bank (ECB) launched its €1.1tn (£800bn) quantitative easing programme only in January. Now, with a full year left to complete the bond-buying spree, QE2 is being prepared.
The eurozone’s private sector is growing at its fastest rate in four years, with business confidence boosted by the easing of the Greek debt crisis despite growing fears over global growth.
The recent turmoil in financial markets and the struggling Chinese economy could combine to hit global economic growth this year and force central banks to keep interest rates low, the International Monetary Fund has said ahead of a meeting of G20 finance ministers in Ankara this weekend.
The head of the International Monetary Fund has warned that global growth will be weaker than previously expected and that emerging economies should be alert to potential shockwaves from China’s slowdown.
Goldman Sachs slashed its forecasts for China's growth over the next three years amid broadening pessimism over the health of the world's second largest economy.
Forget the financial turmoil in China and around the world. When it comes to the UK, Mark Carney would have us believe he remains in charge.