World economy
Switzerland surprised markets with a rate hike. But Japan could cause a much more violent reaction
Japan’s national flag flies atop the Bank of Japan building on November 12, 2019 in Tokyo, Japan. Tomohiro Ohsumi | Getty Images Japan’s central bank is nearing an inflection point. It comes as policymakers around the world scramble to tighten monetary policy in an effort to rein in record-high inflation. The Swiss National Bank was […]
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IMF chief Georgieva says she ‘cannot rule out’ possible global recession
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), during a Bloomberg Television interview on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Monday, May 23, 2022. Jason Alden | Bloomberg | Getty Images The head of the International Monetary Fund on Wednesday said the outlook for the global […]
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The Federal Reserve hiked interest rates to combat inflation: Here’s what that means for you
The Federal Reserve recently raised interest rates by three-quarters of a percentage point, the most aggressive hike since 1994. This rise puts the key benchmark federal funds rate at a range between 1.5 and 1.75%. The Fed’s intention is to help combat inflation. Watch this video to find out what rising interest rates mean for […]
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Biden’s move to lift some China tariffs will likely be ‘modest’ in short term, former trade negotiator says
President Joe Biden could decide “pretty soon” on a modest relief package to roll back some U.S. tariffs imposed on China in an effort to tamp down inflation, said Clete Willems, who previously served as deputy director at the National Economic Council. “What we are expecting that the president is deciding on is a relatively […]
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OPEC Secretary General Mohammad Barkindo dies at age 63
Mohammad Sanusi Barkindo, secretary general of the Organization of Petroleum Exporting Countries. Aaron M. Sprecher | Bloomberg | Getty Images Mohammad Barkindo, a Nigerian politician and the secretary general of oil group OPEC, has died at the age of 63. The head of Nigeria’s National Petroleum Corporation, Mele Kyari, announced the news in a tweet Wednesday, which was confirmed by two sources at OPEC. “We lost our esteemed Dr Muhammad Sanusi Barkindo,” a tweet early Wednesday morning from his verified Twitter handle read. “He died at about […]
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Australia risks recession and housing downturn after third rate hike
The negative impact of interest rate rises on Australian housing prices, household spending and the volume of dwelling investments may hurt consumer confidence and fuel the likelihood of a recession in Australia, analysts and economists say. The Reserve Bank of Australia raised interest rates for the third time in a row on Tuesday. Joining central […]
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European markets head for higher open as investors look to reverse negative slide
LONDON — European stocks are expected to open higher on Wednesday as markets look to reverse a negative slide in the previous trading session. The U.K.’s FTSE index is seen opening 79 points higher at 7,096, Germany’s DAX 159 points higher at 12,550, France’s CAC 40 up 82 points at 5,867, and Italy’s FTSE MIB 270 […]
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European stocks flat as markets struggle to build momentum
LONDON — European stocks were flat on Tuesday as global markets look to cement gains after a bruising week for stocks last week. The pan-European Stoxx 600 hovered around the flatline after an hour of trading, having given back opening gains. Food and beverage stocks gained 0.8% while oil and gas stocks dropped 1%. In […]
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Bank of Israel hikes benchmark interest rate 1/2-point in inflation battle
The Bank of Israel lifted its key rate to 1.25% from 0.75% in July in a bid to battle rising inflation. Eddie Gerald | Moment | Getty Images The Bank of Israel on Monday raised its benchmark interest rate by a half percentage point, its most aggressive move in more than a decade in a […]
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Blasts rock Ukraine’s Mykolaiv after Russian missiles kill 21 near Odesa
An aerial view of rescue workers carrying out operations after the Russian missile attacks where a number of people died in Serhiivka district of Odessa, Ukraine on July 1, 2022. Anadolu Agency | Anadolu Agency | Getty Images Powerful explosions rocked the Ukrainian city of Mykolaiv early on Saturday, the mayor said, a day after […]
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