central banking

UK inflation hits new 40-year high of 9.1% as food and energy price surge persists

UK inflation hits new 40-year high of 9.1% as food and energy price surge persists

More than four in five people in the UK are worried about rising living costs and their ability to afford basic necessities like food and energy over the coming months, according to a new survey. Tolga Akmen | Afp | Getty Images LONDON — UK inflation hit 9.1% year-on-year in May as souring food and …

UK inflation hits new 40-year high of 9.1% as food and energy price surge persists Read More »

Labor market 'worse than the 1970s' as strikes hit UK, Nobel Prize-winning economist says

Labor market ‘worse than the 1970s’ as strikes hit UK, Nobel Prize-winning economist says

A usually busy Waterloo Station is almost empty in London on June 21, 2022 as the biggest rail strike in over 30 years hits the UK. Ben Stansall | Afp | Getty Images LONDON – The labor market is “worse than the 1970s,” with massive rail strikes in the UK offering a sign of things …

Labor market ‘worse than the 1970s’ as strikes hit UK, Nobel Prize-winning economist says Read More »

Australia's central bank raises rates by 50 basis points in hawkish surprise

Australia’s central bank raises rates by 50 basis points in hawkish surprise

People walk past the Reserve Bank of Australia building in Sydney. On May 3, 2022, Australia’s central bank raised interest rates for the first time in more than a decade to curb souring consumer prices. Saeed Khan | AFP | Getty Images Australia’s central bank on Tuesday raised interest rates by the most in 22 …

Australia’s central bank raises rates by 50 basis points in hawkish surprise Read More »

Fed minutes point to more rate hikes that go further than the market anticipates

Fed minutes point to more rate hikes that go further than the market anticipates

Federal Reserve officials earlier this month stressed the need to raise interest rates quickly and possibly more than markets anticipate to tackle a burgeoning inflation problem, meeting minutes released Wednesday showed. Not only did policymakers see the need to raise benchmark borrowing rates by 50 points, but they also said similar hikes likely would be …

Fed minutes point to more rate hikes that go further than the market anticipates Read More »