Australia’s higher unemployment and job losses in September suggest the labor market may be loosening, prompting traders to scale back bets on the Reserve Bank raising interest rates further.
A forecaster who was early to call the most recent Federal Reserve rate hike now says a bigger, half-percentage-point rate increase could be on the table in December.
The next industrial revolution is here. Like electricity or the internet before it, artificial intelligence has the potential to transform economies by opening new avenues for growth. India is no exception.
Federal Reserve Bank of Chicago President Austan Goolsbee said a report showing broad-based inflationary pressures last month was worrisome, and warned the buildout of infrastructure related to artificial intelligence may be overheating the economy.
Half of the 12 Federal Reserve districts saw robust or intensifying price pressures in recent weeks as higher energy prices permeated the local economies, according to a survey of the central bank’s regional contacts.
Treasury Secretary Scott Bessent pushed the International Monetary Fund to call out “distortionary policies” by non-market economies that are posing challenges for global policymakers, in an apparent veiled reference to China and its still-growing imbalances.
Argentina could tap its currency swap line with China if it can’t refinance dollar-denominated bonds under local law as investor concerns simmer ahead of next year’s presidential election, Economy Minister Luis Caputo said.
David Kelly, chief global strategist at JPMorgan Asset Management, says he does not expect the Fed to raise rates at its October meeting. Speaking on "Bloomberg Surveillance," Kelly argues that the meeting falls just six days before the election, when policymakers may want to avoid appearing political and that major uncertainties likely to be resolved by the election could reshape the 2027 outlook. (Source: Bloomberg)
A shifting global order marked by upended supply chains and unstable alliances is forcing so-called middle-power countries to chart new paths of survival.
US consumer prices advanced in September at the fastest pace in five months and a gauge of underlying price pressures rose by more than expected, keeping the squeeze on household budgets ahead of November’s midterm elections.
The European Central Bank may need to raise interest rates again because data suggest price pressures keep building, Governing Council member Gediminas Simkus said.
Uganda’s shilling flipped from laggard to best performer in the world on Wednesday after the central bank raised its benchmark interest rate by the most in 15 years at an emergency meeting to defend the currency, after it fell to a record low.
Even small tweaks in the economic forecasts being prepared for UK Chancellor of the Exchequer John Healey could be the difference between a painful or painless budget this month.
Slovakia’s parliament backed a budget for next year criticized by the opposition and fiscal watchdog as Prime Minister Robert Fico looks set to seek a fifth term in office.
Commerzbank CEO Bettina Orlopp said UniCredit is set to get a crucial nod from the European Central Bank “in the next days or weeks,” paving the way for the Italian lender to take control of its German rival. Speaking to Bloomberg's Lisa Abramowicz in Bangkok, Orlopp also discusses the lender's Asia business. (Source: Bloomberg)
A worsening energy shock could wipe out Italy’s economic growth next year, with high power prices and European Union carbon costs hurting industrial competitiveness, according to the country’s largest business lobby.
