Faced with Canada’s sinking economy, the Bank of Canada (BoC) cut its key rate from 4.25 percent to 3.75 percent on 23 October.
Tag: inflation
Post
RUSSIA’S CENTRAL BANK JACKS INTEREST RATE TO 20-YEAR HIGH
The Bank of Russia has raised its key interest rate to 21 percent, the highest since 2003, as runaway military spending pushes inflation’s pace to an average of 8.8 percent this year, bank governor Elvira Nabiullina said in a press briefing.
Post
ECB CUTS KEY RATE ANOTHER QUARTER POINT
On 17 October, the European Central Bank (ECB) cut its key interest rate by a quarter point, the same as it did in June and September, bringing the rate to 3.25 percent.
Post
HIGH DEBT, SLOW GROWTH DRAG DOWN GLOBAL ECONOMY, IMF SAYS
The world’s debt burden, already high and still growing, coupled with “anemic” economic growth are hobbling the global economy, Kristalina Georgieva, the International Monetary Fund’s managing director, said in a 17 October CNBC interview.
Post
WHY U.S. INFLATION IS STILL A PROBLEM
Top-line inflation in the U.S. fell to 2.4 percent in September. Goldman Sachs analysts are speculating that the number could be rounded down to the U.S. Federal Reserve’s 2-percent target when the Bureau of Economic Analysis releases the updated Personal Consumption Expenditures Price Index on 31 October.
Post
HEALTH INSURANCE COSTS ROSE 7 PERCENT IN LAST 12 MONTHS
Inflation may be easing, but the cost of health insurance is still on the rise.
Post
SEPTEMBER CONSUMER SPENDING BEATS FORECAST; JOBLESS CLAIMS FALL
U.S. consumer spending grew 0.4 percent in September, more than the 0.3 percent expected by Dow Jones and much stronger than August’s estimated 0.1-percent gain.
Post
RETAILERS CUT PRICES TO WIN BACK CUSTOMERS
After years of hiking prices to keep up with inflation, retailers are now cutting prices to hold onto shoppers who have less to spend and are looking for bargains.
Post
SWEDEN’S CENTRAL BANK CUTS RATE AGAIN
Last week, Sweden’s Riksbank shaved another quarter point from its key interest rate, dropping it to 3.25 percent as forecast by a Wall Street Journal survey of economists.
Post
WORLD ECONOMY WILL GROW 3.2 PERCENT THIS YEAR, OECD SAYS
Falling interest rates and the slowdown in inflation is giving households more money to spend, which will enable the global economy to grow 3.2 percent this year and by the same percentage in 2025, according to an analysis by the Organization for Economic Cooperation and Development (OECD).