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The world economy [July 2005]

Low, Kenneth (2005) The world economy [July 2005]. Quarterly Economic Commentary, 30 (2). pp. 10-12. ISSN 0306-7866

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One of the most important developments at the end of 2004 was the depreciation of the effective exchange rate of the dollar by 4.5 per cent on the previous quarter and the rise of the Euro effective exchange rate by 7.2 per cent. The world economy is still adjusting to this and growth has slowed slightly in the main economies.