Central banks have relied on rate cuts to stimulate their economies, but HSBC has argued government spending may also be needed to fight recessions. Despite recent rate cuts from the Federal Reserve, European Central Bank (ECB), and other central banks around the world, the global economy has slowed to its lowest level since the eurozone crisis in 2012, HSBC economists said in a note to clients. Geopolitical uncertainty due to the US-China trade war, Brexit, regional tensions in the Middle East, and other ongoing disputes threaten to throttle growth even more, the bank said. HSBC highlighted a recent analysis by the ... (full story)