In the first six months of this year, London-based Barclays bank set aside £896 million, or about $1.2 billion, to cover loans likely to turn sour, the bank disclosed on 27 July. The amount is more than double that in the first half of 2022.
Tag: Economy
FALLING INFLATION RAISES HOPE THAT ECB WILL PAUSE RATE HIKES
Slowing inflation in the Eurozone’s two largest economies have raised hopes that the European Central Bank (ECB) will not raise interest rates again when it meets in September after it raised its key rate by another quarter point on 27 July.
ECB BOOSTS INTEREST RATE TO 23-YEAR HIGH
As the U.S. Federal Reserve did a day earlier, the European Central Bank (ECB) added a quarter point to its key interest rate on 27 July, bringing it to 3.75 percent. It began raising the rate in July 2022, when it was -0.50 percent.
WHEN THE ECONOMY FALLS JOBS GO WITH IT
Welcome to week 49 of job losses. Higher interest rates and rising inflation, plus the cheap money flow that governments pumped into economies to artificially drive up equity markets and economies are causing companies in many sectors to lay off employees.
INFLATION SLOWS AND GROWTH SLOWLY RISES IN THE EUROZONE
In July, inflation across the 20 countries sharing the euro currency edged down to 5.3 percent from 5.5 percent in June, reaching its slowest pace since January 2022, and the area’s GDP expanded by 0.3 percent in the second quarter.
SPOTLIGHT: BIGS GETTING BIGGER
As we had long forecast, the higher central banks raise interest rates, the lower the Merger and Acquisition trend… which hit record highs at the height of the COVID War in 2021 when interest rates sank and governments pumped in countless trillions to artificially prop up sinking economies.
SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
The value of exports from China fell 12.4 percent in June, year over year, to $285 billion after declining 7.5 percent in May, The Wall Street Journal reported.
BANK OF CANADA RAISES INTEREST RATES TO 22-YEAR HIGH
Once again, the Bank of Canada (BoC) raised its key interest rate by a quarter point, moving it from 4.75 to 5.0 percent in the wake of second-quarter consumer spending that was stronger than predicted.
WHEN THE ECONOMY FALLS JOBS GO WITH IT
Again, the facts are in the data and the numbers are in the facts. The higher interest rates the deeper economies will decline and the higher the unemployment numbers will rise. Inflation and high interest rate hikes are causing companies in many sectors to lay off employees.
TOP TREND 2022, SELF-SUFFICIENT ECONOMIES: EU, LATIN AMERICAN LEADERS MEET THIS WEEK TO REVIVE ECONOMIC TIES
On Monday and Tuesday this week, more than 50 leaders from Latin America, Caribbean nations, and the European Union (EU) met in Brussels in the first such transatlantic summit since 2015 in an effort to smooth over differences and rebuild trade relationships.