Week Ending 27th May 2023 US stocks jumped Friday on reports the White House and Republican leadership are nearing a deal to raise the debt ceiling. A potential deal could raise the $31 trillion debt limit for two years. The Fed’s preferred inflation gauge showed price pressures rose in April. US stocks jumped Friday on […]

The Bank of England has raised interest rates for a record-breaking 12th successive time, lifting the cost of borrowing to 4.5% and warning that inflation would be higher this year than it previously anticipated. The Bank’s Monetary Policy Committee said that there would be no recession this year, upgrading its economic growth forecasts by more […]

The UK economy performed better than previously estimated at the end of last year, revised official figures show. It was previously thought the economy had not grown in the last three months of 2022, but new Office for National Statistics data shows it grew by 0.1%. The latest figures confirm that the UK economy avoided […]

The UK has been accepted into an Indo-Pacific trade bloc in what the government says is its biggest trade deal since Brexit. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement between 11 countries across the Indo-Pacific, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and […]

US regulators have shut down the country’s 16th largest bank, in the biggest collapse of a financial institution since the 2008 financial crisis. Silicon Valley Bank failed after depositors – mostly technology workers and venture capital-backed companies – began withdrawing their money, creating a run on the bank. The US Federal Deposit Insurance Corporation (FDIC) […]

The US economy added 263,000 jobs in November, defying aggressive action from the Federal Reserve to cool the economy and bring down decades-high inflation. The unemployment rate held steady at 3.7%, according to the Labor Department, which released the latest monthly jobs snapshot on Friday morning. Economists surveyed by Refinitiv had expected the pace of […]

Lower than expected US inflation figures are raising hopes interest rates may not need to be raised as aggressively in the future. Federal Reserve Chairman Jerome Powell Today’s dramatic US inflation figures raise hopes that the Federal Reserve is winning the fight against the monster. Consumer price inflation in October came in at 7.7% on […]

The US central bank has imposed its fourth major interest rate rise in a row while the Bank of England raised the base rate of interest by 0.75 percentage points to 3% – the single biggest increase in more than three decades. The Federal Reserve, the central bank known as the Fed, has once again […]

Gross domestic product in the US bounced back in the third quarter, reversing a trend over the first six months that suggested the country was heading for a recession. The country’s GDP increased by 2.6% between July and September of this year, beating experts’ forecasts and reversing a steep decline of 0.6% in the previous […]

US inflation dropped to 8.2% over the 12 months to September. The US Bureau of Labor Statistics (BLS) said the consumer price index (CPI), the measure of inflation, was down from 8.3% in the year to August. The raise was driven by the increased cost of shelter, food, and medical care. If food and energy […]