The European Central Bank (ECB) has been facing challenges in keeping inflation at its 2% target due to a weak euro zone economy. According to ECB policymaker Yannis Stournaras, the low economic growth in the region could lead to inflation falling below the target, prompting the need for interest rate cuts. Stournaras, who is known
Economy
During the recent July meeting, Chairman Jerome Powell hinted at the possibility of a rate cut in the near future, citing favorable inflation data as a key factor in the decision-making process. While the specifics were not outlined, Powell’s comments suggested that the bar for a rate cut in September is relatively low, according to
China’s manufacturing activity has continued to shrink for the third consecutive month in July, according to an official factory survey released on Wednesday. This ongoing trend has raised concerns about the need for Beijing to implement further stimulus measures to counteract the negative impact of a protracted property crisis and job insecurity on economic growth.
British finance minister Rachel Reeves recently announced that she would need to raise taxes in the upcoming budget, citing a 22 billion pound shortfall. This move was expected after the Labour Party’s election win, highlighting the financial challenges facing the country. In a recent interview with The News Agents podcast, Reeves confirmed that tax increases
Oil prices have been trading near seven-week lows due to a softening demand outlook that has weighed on commodities. Despite tensions in the Middle East and Venezuela, traders have been focusing on worries over Chinese demand, leading to a decrease in oil prices. Brent crude futures hit $79.36, reflecting the cautious sentiment in the market.
In a recent address to Parliament, Britain’s new finance minister, Rachel Reeves, highlighted the dire state of the country’s public finances. Coming into office after a landslide victory on July 4, the Labour government inherited a situation where public spending was set to exceed budget by a substantial 21.9 billion pounds. Reeves wasted no time
As the Federal Reserve officials gear up for their upcoming meeting, all eyes are on the potential for a rate cut in September. Evercore ISI strategists believe that while the Fed is likely to hold rates steady this time, there could be a signal for a 25 basis point cut at the next meeting. The
The article discusses the upcoming central bank meetings of the Federal Reserve, the Bank of England, and the Bank of Japan. It mentions that the Federal Reserve is expected to keep its benchmark interest rate steady at the current range but hints at a possible rate cut in September due to signs of cooling prices.
In a recent independence day speech to Congress, President Dina Boluarte expressed optimism about Peru’s economy, despite facing accusations of corruption and abuse of power. Boluarte took office after the ousting and arrest of predecessor Pedro Castillo in late 2022, following his attempt to dissolve Congress. The economic challenges faced by Peru are significant, with
China’s industrial profits have shown a mix of growth and setbacks in recent months. While June saw a 3.6% year-on-year increase in profits, a significant improvement from the previous month’s 0.7% gain, the first half of the year only saw a 3.5% rise. This acceleration from the January-May period indicates some positive momentum, but the
Central banking may not be the most glamorous profession, but according to departing Swiss National Bank Chairman Thomas Jordan, being prepared to be labeled as boring could be the key to success. In a recent interview, Jordan defended his record at the central bank, emphasizing the importance of focusing on the job at hand and
Recently, six major banks, including Bank of America, Citigroup, Jefferies, NatWest, Nomura, and UBS, agreed to settle antitrust litigation in New York by paying $80 million. The litigation accused them of colluding to manipulate prices of European government bonds. The alleged collusion took place between 2007 and 2012, according to investors led by public pension