On 29 September, the Bank of England (BoE) suspended its plans to tighten monetary policy and bought £1 billion in government bonds to stabilize the nation’s debt and pension markets after new prime minister Liz Truss announced her government would initially borrow more than £72 billion to subsidize household energy bills.
The value of India’s rupee fell further to set a new lifetime low against the dollar on 28 September, touching 81.90 to the buck.
The International Monetary Fund (IMF), the international lender of last resort, has loaned a record $140 billion so far this year to aid troubled countries, at least five of which already are in default with more on the brink, the Financial Times reported.
Each week, we report instances where the money junky hedge funds, private equity groups and the already big companies swallow another piece of the global economy.
For the first time since 1990, China’s economic production this year will be less than the rest of Asia’s, the World Bank has predicted.
The International Monetary Fund (IMF) gave a “stinging rebuke” to the government of British Prime Minister Liz Truss over her plan for massive tax cuts—the most drastic since 1972—while also initially borrowing more than £72 billion to subsidize household energy bills, the Financial Times reported.
Nigeria’s central bank has raised its benchmark interest rate to an all-time high of 15.5 percent.
The skyrocketing price of electricity has pushed Slovakia’s economy to the brink of “collapse,” prime minister Eduard Heger said last week in a public warning.
Cotton futures prices have slid 25 percent since late August, reversing the rise in price that followed the U.S. agriculture department’s forecast that 40 percent of this year’s U.S. cotton harvest would be lost to drought.
On 29 September, Mexico’s central bank raised its benchmark interest rate to a record 9.25 percent.