By a vote of five to four, the Bank of England’s (BoE’s) rate-setting committee paused its steady march of rate increases at its meeting last week, leaving its key rate at 5.25 percent.
Tag: Global Economy
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TURKEY RAISES KEY INTEREST RATE BY 5 POINTS AT ONCE
On 21 September, Turkey’s central bank hiked its key one-week repo interest rate by a whopping five percentage points to 30 percent, matching economists’ forecast in a FactSet poll.
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RUSSIA HALTS EXPORTS OF GASOLINE AND DIESEL FUEL
With world oil prices closing in on $100 a barrel, Russia has banned exports of diesel fuel and gasoline, with exceptions for some low-grade diesel and for supplies to four adjacent ex-Soviet states.
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GOING OUT OF BUSINESS/CLOSING STORES TRENDS
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…all made worse by the COVID War which destroyed the lives and livelihoods of billions across the globe.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
This is week 55 of our listing job cuts. Today, the Dow plunged nearly 400 points. Why? According to the CNBC headline because “... economic worries return.”
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GLOBAL DEBT SETS RECORD AT $307 TRILLION
The amount of money owed by governments, businesses, households, and individuals grew by $10 trillion in this year’s first half to a record $307 trillion, the Institute of International Finance (IIF) said in a 19 September report.
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CANADA’S ECONOMY SHRINKS IN SECOND QUARTER
Canada’s economy contracted by 0.2 percent in this year’s second quarter, Statistics Canada reported.
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WEAKNESS IN RETAIL SALES AND CHINA’S ECONOMY SINKS SHIPPERS
The shipping industry has entered its peak season, the time when retailers are expecting their holiday inventories of clothing, decorations, electronics, toys, and other items.
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DE-DOLLARIZATION “IRREVERSIBLE”
The dollar’s loss of its central role in the world’s economy is “an objective and irreversible process,” Russian President Vladimir Putin told the BRICS summit on 5 September.
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INTEREST RATE HIKES HAMPER GROWTH FOR 12 YEARS, FED STUDY SAYS
Central banks’ interest rate increases slow broader economic growth for at least 12 years, according to a new study by the Federal Reserve Bank of San Francisco.