Economy

The European Central Bank (ECB) is facing challenges as a weak eurozone economy threatens to drag inflation below its 2% target. In an interview published on Thursday, ECB policymaker Yannis Stournaras expressed his concerns about the current economic situation, highlighting the possibility of two interest rate cuts this year. Stournaras, the head of the Bank

During the Federal Open Market Committee (FOMC) meeting in July, Chairman Jerome Powell hinted at the possibility of a rate cut in the near future. While Powell did not provide clear guidance, he suggested that the committee is edging closer to implementing a rate cut, with September being a potential target month. According to insights

China’s manufacturing activity in July experienced a downturn for the third consecutive month, according to an official factory survey. The official purchasing managers’ index (PMI) dropped to 49.4 in July, below the 50-mark that signifies growth. This trend has raised concerns about the need for further stimulus measures to counter the impact of a lingering

The newly appointed British finance minister, Rachel Reeves, has recently confirmed that taxes will need to be raised in the upcoming budget on October 30th. This announcement comes after Reeves revealed a significant 22 billion pound shortfall in this year’s budget, setting the stage for tough decisions to be made in order to stabilize the

The oil market experienced a period of instability as traders shifted their focus from geopolitical tensions in the Middle East and Venezuela to concerns over softening demand in China. This shift in attention led to a decline in oil prices, with Brent crude futures hitting seven-week lows at $79.36. The impact of weakening Chinese demand

Britain’s newly appointed finance minister, Rachel Reeves, has inherited a challenging economic landscape from her Conservative predecessor. Reeves recently revealed to Parliament that public spending is set to exceed the budget by a staggering £21.9 billion this year. In response to this alarming trend, she has announced immediate cuts of £5.5 billion and plans for

The upcoming week is poised to witness significant events in the financial world, with various central banks convening policy meetings. The Federal Reserve, the Bank of England, and the Bank of Japan are all scheduled to make crucial decisions regarding interest rates and monetary policy. The Federal Reserve, in particular, is expected to maintain its

Federal Reserve officials are expected to maintain current interest rates during the upcoming meeting, with the possibility of a 25 basis point rate cut in September looming on the horizon. Evercore ISI strategists have expressed their belief that the Fed will refrain from explicitly signaling a rate reduction at the September meeting. They argue that

Peru’s President Dina Boluarte recently delivered an independence day speech to Congress, painting a rosy picture of the country’s economy. Despite her optimistic outlook, the reality on the ground tells a different story. The economy contracted by 0.6% last year, attributed to extreme weather conditions and lower private investment. While Boluarte predicts a surge in

In a recent interview with the Bieler Tagblatt, departing Swiss National Bank Chairman Thomas Jordan shed light on the oft-misunderstood world of central banking. Contrary to popular belief, Jordan argues that central banking is far from boring. Instead, he suggests that being prepared to carry the label of “boring” may be the key to success

Recently, six major banks, including Bank of America and Citigroup, agreed to pay $80 million to settle antitrust litigation in New York. The litigation accused the banks of conspiring to rig prices of European government bonds. This preliminary settlement requires approval from a judge and would put an end to the ongoing legal battle. Investors,

China’s industrial profits saw a positive growth trajectory in June, with a 3.6% year-on-year rise, following a 0.7% gain in May. The first-half earnings also showed an acceleration, reaching 3.5% compared to a 3.4% increase in the previous period. This growth can be attributed to the relatively rapid industrial production and an easing in factory-gate