The Bank of England yesterday raised interest rates by half a percentage point as it sought to tame double-digit inflation that is fueling a cost-of-living crisis, public-sector strikes and fears of recession.
The bank’s monetary policy committee voted 7-2 to push its key rate to 4 percent, approving the 10th consecutive rate increase since a...Read More
The Stigler Center’s “China Political Economy” webinar series returns Thursday, February 9. Here’s a reminder of what we covered in our first four panels as we turn to China’s new Covid policy. For two years, China appeared to be the one big economy aptly able to manage the Covid-19 pandemic. While the United States and...Read More
Feb 2 (Reuters) – Oil prices rebounded on Thursday after tumbling in the previous session as a weaker dollar brought back some appetite for risk assets and the OPEC+ decision to roll over an output cut helped ease oversupply concerns. Brent crude futures rose 65 cents, or 0.8%, at $83.49 a barrel as of 0353...Read More
U.S. central bank raises rates by quarter percentage point Debate now turns to when Fed will stop rate hikes Fed’s Powell says more evidence of ebbing inflation needed WASHINGTON, Feb 1 (Reuters) – The Federal Reserve raised its target interest rate by a quarter of a percentage point on Wednesday, yet continued to promise “ongoing...Read More
Euro zone factories have passed their trough in activity – PMI China’s Jan factory activity shrinks – Caixin PMI survey Softening input price pressure offer signs of hope LONDON/TOKYO, Feb 1 (Reuters) – Manufacturing activity across Europe and Asia contracted again last month, underscoring the fragility of the global economic recovery, although factories in the...Read More
Read our India budget live blog for updates and analysis. India seeks to narrow its budget deficit to below 6% of gross domestic product for the first time since the year ended March 2020, even as it plans to boost capital spending to support growth. Read more…Read More
US Dollar steadies after snapping three-day winning streak. Market’s anxiety probes DXY bears as US stock futures fail to trace Wall Street, yields stabilize. Downbeat US data, yields weighed on the USD the previous day. Fed Chairman Jerome Powell has a tough task of defending US Dollar bulls amid dovish hike expectations. US Dollar Index...Read More
WASHINGTON — The International Monetary Fund said on Monday that it expected the global economy to slow this year as central banks continued to raise interest rates to tame inflation, but it also suggested that output would be more resilient than previously anticipated and that a global recession would probably be avoided. The I.M.F. upgraded its economic...Read More
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