On 30 January, the European Central Bank (ECB) cut interest rates on Thursday for the fifth time since June, dropping its rate on deposits to 2.75 percent and its marginal lending rate to 3.15 percent.
Tag: inflation
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FED STANDS PAT ON INTEREST RATES
At its meeting last week, the U.S. Federal Reserve’s Open Market Committee decided to hold its interest rates at their current levels amid a strong economy and labor market and inflation that refuses to surrender to the bank’s 2-percent target rate.
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CONSUMER CONFIDENCE DROOPS AGAIN IN JANUARY
Consumers’ view of the present and future economy fell more than economists expected last month, according to a January survey by the Conference Board (CB).
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GERMAN, U.K. ECONOMIES SHOW NEW DANGER SIGNS
From 1 September through November, the U.K.’s jobless rate edged up from 4.3 percent to 4.4 percent, its highest since 2021, the Office of National Statistics reported.
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TOP TREND 2025: THE TRUMP CARD
Canada’s government has formulated a list of tariffs valued at $105 billion in U.S. dollars that it will impose on U.S. goods if incoming president Donald Trump lays new import duties on Canadian goods coming into the U.S., an unnamed government official told Bloomberg.
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U.S. HOLIDAY SALES RISE 4 PERCENT, CHEERING RETAILERS
Retail sales during the November and December holiday season totaled $994.1 billion, the U.S. Commerce Department reported, a 4-percent bump over 2023’s total. Online sales rose 8.6 percent.
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INFLATION PICKED UP AGAIN IN DECEMBER
In December, U.S. inflation set an annual pace of 2.9 percent, compared to 2.7 percent in November. It was the sharpest one-month increase since February 2024, The New York Times noted.
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EUROZONE ECONOMY REMAINS IN DANGER, NEW DATA SHOWS
Despite a pickup in the services sector, the Eurozone’s economy closed 2024 with a variety of data pointing toward a grim year ahead.
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MORTGAGE RATES RISE TO HIGHEST IN SIX MONTHS
After falling to 6.2 percent in September, the average national interest rate on a fixed-rate, 30-year mortgage climbed back to 6.93 percent last week, its highest since July, the Federal Home Loan Mortgage Corp. reported.
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CORPORATE BANKRUPTCIES SHOOT TO 14-YEAR HIGH
In 2024, at least 686 U.S. corporations filed bankruptcy, 8 percent more than in 2023 and the most since 2010 during the Great Recession when 828 corporations went bust, S&P Global Intelligence reported.