Last week should have been a good one for George Osborne.
The US economy shook off concerns of a global slowdown in March and added 215,000 jobs, surpassing expectations, the US Department of Labor announced on Friday.
Britain’s trading position with the rest of the world has deteriorated sharply with the current account deficit swelling to its widest on record, fanning fears about the sustainability of the economic recovery.
House prices across the country continue to surge. Data published by the Land Registry this morning shows the average UK property price was £190,275 in February, a 6.1 per cent climb on the same month last year.
The Bank of England has muttered for so long about the possible dangers lurking in buy-to-let lending, the most excitable end of the housing market, that it had to do something.
Federal Reserve chair Janet Yellen delivered a speech on the economy at the Economic Club of New York today. In case you missed it, here are the key points:
Fears over the UK’s faltering economic outlook have been underlined by a survey showing a sharp drop in confidence among financial services firms, against the backdrop of the Chinese slowdown and the EU referendum.
Fresh evidence of subdued consumer spending and soft inflation in the US has bolstered expectations that the Federal Reserve will hold back from raising interest rates over the coming months.
Like Easter, the start to the buying season for househunters has come early this year. Mortgage approvals in February were 20% up on the same month in 2015.
A strong warning that austerity policies can do more harm than good has been delivered by economists from the International Monetary Fund, in a critique of the neoliberal doctrine that has dominated economics for the past three decades.
The price of crude oil could tumble to $20 a barrel in the coming months if China’s currency continues to decline against the US dollar, one of Wall Street’s leading investment banks has predicted.
The prospect of ultra-low interest rates persisting for years to come has been conjured up by a leading Bank of England policymaker after a further fall in oil prices and shares in London sinking to their lowest level since late 2012.
Insights from a prominent Bitcoin commentator that global powers are beginning to feel threatened by cryptocurrencies.
The managing director of the International Monetary Fund has made an impassioned plea for Britain to stay in the EU, saying Brexit would spell the painful breakdown of a “long marriage” with grave risks for the global economy.
Mervyn King, the former Bank of England governor, has delivered his most stinging criticism of George Osborne and the Treasury over the Brexit campaign, saying they will need to row back from exaggerated claims that left him “baffled”.
European finance ministers will once again deliberate over how to treat Greece’s ongoing debt crisis this week despite the country desperately grappling with refugees pouring across its borders.
Britain’s factories saw a strong rebound in output and new orders in August, according to a survey that suggested manufacturers quickly shrugged off the shock of June’s vote to leave the EU.
A former governor of the Bank of England has said the decision of Britain to leave Europe put the country on a better economic footing.
The dollar went up. The dollar went down again. Share prices dropped. Share prices recovered. Yes, it was time for Wall Street to play one of its favourite games: interpreting a speech by Janet Yellen.