The European Central Bank (ECB) should continue to raise interest rates into the future, bank president Christine Lagarde said in a 27 June statement at a financial conference in Portugal.
Tag: Global Economy
EUROZONE INFLATION FALLS
Inflation across the 20 countries sharing the euro currency fell to 5.5 percent in June from 6.1 percent in May, beating economists’ forecast of 5.6 percent in a Reuters poll.
MARKETS SEE $1 TRILLION LESS IN M&As, IPOs THIS YEAR
Through June, this year’s initial public stock offerings (IPOs) and corporate buyouts and takeovers are worth $1 trillion less than the value of those deals made during the same period last year, Bloomberg reported.
ASIAN JUNK-BOND DEFAULTS SET RECORD
In 2022, 18 Asian companies defaulted on their dollar-denominated junk-rated bonds, a record that tripled the number of defaults in 2021, according to S&P Global Ratings.
SPOTLIGHT: CHINA’S ECONOMIC MALAISE
New data shows China’s post-COVID economic recovery has vanished and is now weakening across a broad range of sectors, leaving it “teetering on the brink of deflation,” CNBC reported.
EUROPE’S GAS PRICE DOUBLES IN JUST 10 DAYS
The benchmark price of natural gas in Europe more than doubled in ten trading days this month, jumping 27 percent on 15 June alone.
TOP TREND 2022, DRAGFLATION: ECB RAISES INTEREST RATE, SEES HIGHER INFLATION AHEAD
On 15 June, as economists expected, the European Central Bank raised its deposit rate by a quarter point to 3.5 percent, its highest in two decades.
TOP TREND 2023, GOING GREEN, LIKE IT OR NOT: OIL DEMAND WILL STAGNATE IN NEXT FIVE YEARS, IEA PREDICTS
Over the next five years, global demand for oil will virtually stop growing, the International Energy Agency (IEA) has predicted, as electric vehicles (EVs), biofuels, and energy efficiency permeate the energy economy.
WHEN THE ECONOMY FALLS JOBS GO WITH IT
As equity markets rise and with the “good news” that inflation is falling, on the employment front, the firing binge continues…
BANKING INDUSTRY TUMULT SINKS EUROPEAN REAL ESTATE STOCKS
In Europe, the share prices of publicly traded commercial real estate landlords finished their worst month in three years last week as investors feared the banking industry’s difficulties will make it harder for property owners to secure loans, which could sink property values, the Financial Times said.