264.20 // Recession to End Next Year
Coruscant – The Galactic markets will likely experience temporary losses during the next two quarters, followed by a period of prolonged economic growth, says Mr. Klaob, the presiding chairman of the Bank of Coruscant. “The recession, as we know it, will probably end by next year”, he said, but quickly added that though he believed the data “firmly supported this conclusion”, he was “cautious” to warn that it will be many years before the economy would be fully healthy again.
After the resignation of Mr. San Hill VII last year on 263.15, the Bank of Coruscant quickly appointed a new leader, Mr. Eran Klaob, a former hedge fund manager and assistant Secretary of the Treasury for the Galactic Bank. He has enacted swift and derisive policy since his appointment, replacing over sixty percent of the employees at the Bank and reducing local interest rates to ease pressure on ailing Coruscanti credit markets.
The Galactic Market Indicator (GMI) rose 567.68 credits on 264.19 in response to the news. Research analysts at CreditGroup, one of the top brokerage firms in the Corporate Sector, had the following to say about the sharp incline, “While we are pleased that the markets are healthy enough to respond to this degree of optimism, we must bear in mind that Mr. Klaob’s comment is pure speculation, albeit based in some degree of fact.” An independent economic firm vehemently disagreed with CreditGroup, releasing a statement saying that their long positions “remain strong” and that “bearish trends were indeed reversing”.
This follows a recent report from the Galactic Bank detailing concerns of “drastically low consumer confidence levels” combined with “overbearing speculative entities” that sent the GMI plummetting over 1500 points in four days.