Economy news

The Bank of England (BOE) aims to further calm the bond market and ease liquidity pressures that arose after the Liz Truss government’s disastrous mini-budget announcement.The central bank has moved to quell worries about the expiry of its emergency...

After seven months of hiking interest rates at unprecedented speeds, the US Federal Reserve has hardly made a dent in inflation. Last week, consumer price data for September showed little improvement. Indeed, since March, overall consumer prices were...

IMF Managing Director Kristalina Georgieva has once again rounded on the UK for its planned tax cuts, telling its finance minister and central bank head that their policies should not be contradictory.Her comments came on Thursday during the IMF and...

The Bank of England (BOE) continues to struggle to contain a crisis kindled by the UK government’s ill-advised plans to borrow lavishly to fund tax cuts. Fears remain that the country’s financial markets could once again spin out of control.Almost th...

Pakistan's central bank announced it would be keeping its key interest rate unchanged at 15%. This comes days after the South Asian country's credit rating was downgraded in the face of an economic catastrophe worsened by devastating floods.Pakistan...

The Bank of England (BOE) aims to further calm the bond market and ease liquidity pressures that arose after the Liz Truss government’s disastrous mini-budget announcement.The central bank has moved to quell worries about the expiry of its emergency...

A recent decision by the OPEC+ alliance of oil-exporting countries to significantly cut production and boost crude prices has dealt a blow to oil-consuming nations. The US, which is heading into key midterm elections, has gone as far as accusing Gulf...

The managing director of the IMF, Kristalina Georgieva, has said the organization is lowering its 2023 growth forecast, the fourth negative adjustment this year, when it releases its World Economic Outlook next week.The IMF next week will downgrade i...

Turkish inflation has climbed above 83%, a level not seen in 24 years. Sectors like transport, food and housing, have been hardest hit with surging prices. The Turkish lira, meanwhile, has hit a new record low of 18.56 against the US dollar.Soaring i...

The Reserve Bank of Australia (RBA) has raised its benchmark interest rate by less than expected, bucking a global trend of aggressive rate hikes to tame high inflation.The RBA’s 0.25 percentage point hike this week was only half of what markets had...

The British government announced it is performing an about turn and will not scrap the highest rate of income tax, marking a humiliating retreat after an internal political rebellion and a week of financial and economic turmoil.Finance minister Kwasi...

The UK economy grew marginally in the second quarter of the year, rather than shrinking as previously had been estimated. However, data from the Office for National Statistics also showed that the UK is the only G7 economy that has not recovered full...

The US 30-year fixed-rate mortgage averaged 6.7% in the week ending September 29, up from 6.29% the week before, its highest level in 15 years.Mortgage rates have more than doubled since the start of this year, as inflation has skyrocketed and led th...

According to probability models run by Ned Davis Research, there is currently a 98.1% chance of a global recession. The only other times its recession model was this high was during severe economic downturns, most recently the pandemic in 2020 and th...

US bond yields leapt this week after another significant rate hike from the Federal Reserve. The two-year treasury yield climbed to 4.3%, a 15-year high, and the 10-year treasury breached 3.9%, a level not seen in 11 years.The two-year treasury yield...