Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Nov 22 2022

Home 22 November 2022 TRENDS ON THE GLOBAL ECONOMIC FRONT – Nov 22 2022
British Budget
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TOP TREND 2022, DRAGFLATION: BRITISH BUDGET CHIEF DEFENDS SPENDING CUTS, TAX HIKES

Last week, Jeremy Hunt, the U.K.’s finance minister, formally known as Chancellor of the Exchequer, defended his government’s £55 billion in spending cuts and tax increases designed to dig Britain out of its debts, tame an inflation rate of 11 percent, and convince investors that the U.K. is on the path to financial stability.

SPOTLIGHT: INFLATION
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SPOTLIGHT: INFLATION

Europe’s banks should set aside greater reserves to cover bad loans, regulators should require investment funds to hold more cash to cover a surge in withdrawals, and the European Central Bank (ECB) should not delay in beginning to sell its €5-trillion bond hoard next year, bank vice-president Luis de Guindos said in a statement accompanying the ECB’s semi-annual review of the region’s financial stability.

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