Adjusted for inflation, Canada’s economy expanded by 0.1 percent in August as continued growth in service industries spending barely offset declining sales by companies making goods, Statistics Canada reported last week.
Tag: Economy
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CANADA’S CENTRAL BANK RAISES INTEREST RATE LESS THAN EXPECTED
On 26 October, the Bank of Canada (BoC) added a half-point to its benchmark policy rate, raising it to 3.75 percent and surprising analysts who had widely predicted a three-quarter-point bump.
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YEN SINKS FURTHER AS JAPAN’S GOVERNMENT ANNOUNCES $197 BILLION STIMULUS
At its meeting last week, the Bank of Japan (BoJ) held its key interest rate at -0.1 percent, made no changes to its program of bond purchases, and continued to cap the yield on 10-year bonds at zero percent, as predicted by 49 economists Bloomberg had polled.
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ECB RAISES KEY INTEREST RATE 75 BASIS POINTS
The European Central Bank (ECB) raised two key interest rates three-quarters of a point last week, the second such raise in the ECB policy committee’s last two meetings.
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ECONOMIC GROWTH SLOWING AMONG EUROPE’S LARGEST ECONOMIES
Germany’s economy expanded by a scant 0.3 percent during this year’s third quarter, besting both France and Spain, which each eked out a 0.2-percent expansion.
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HALF OF EUROZONE COUNTRIES WILL ENTER RECESSION
Thanks to the energy crisis sparked by Russia’s war in Ukraine and resulting Western sanctions, at least half of the 19 countries sharing the euro currency will enter a recession, Kristalina Georgieva, managing director of the International Monetary Fund, said in a 27 October Euronews interview.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
Inflation and interest rate hikes are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses.
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SPOTLIGHT: WORLD ENERGY MARKETS IN FLUX
A looming shortage of liquefied natural gas (LNG) worldwide and a reduction in output by OPEC+ have thrust the world into "the first truly global energy crisis", Fatih Birol, executive director of the International Energy Agency (IEA) said in a 25 October speech during the Singapore International Energy Week.
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SPOTLIGHT: BIGS GETTING BIGGER
As we have reported, the value of mergers and acquisitions that companies announced during the first nine months of this year is down 34 percent during the same period in 2021, according to data service Refinitiv.
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SPOTLIGHT: THE COMING RECESSION
The chances of a U.S. recession within 12 months has risen from 50 percent last month to 60 percent now, according to 42 economists responding in early October to Bloomberg’s monthly outlook survey.