The Federal Reserve is putting some of its post-crisis actions under a magnifying glass and not liking everything it sees.
The Bank of England says interest rates are going up. Not quite yet, but at some time in the not too distant future, the monetary policy committee thinks the conditions will be right for borrowing costs to go up.
The global economy is on course for muted growth this year and next as it faces risks from a slowdown in China, the prospect of higher interest rates in the US and the lingering threat of a Greek exit from the euro, according to the latest forecasts from Moody’s.
It’s a safe bet that Britain’s rock-bottom interest rates are going to stay at rock bottom, this year and next.
It has been a tough year for China. Premier Li Keqiang’s plan to have slower but better balanced growth has run into difficulties and Beijing’s struggle to transform its economic model has prompted fears that the world’s second-biggest economy could be the source of the next global downturn.
The good news for the International Monetary Fund, which has been saying for ages that Greece’s debts are unsustainable, is that European lenders now seem to agree.
The recent Greek capitulation under pressure from other euro member countries, led by Germany, demonstrates that euro members have de facto ceded sovereignty over fiscal policy to the EU.
When Janet Yellen sits down with her colleagues on the Federal Reserve’s interest rate-setting committee this week, another slice of her credibility will be on the line.
Global growth will slow this year as oil exporters in the developing world struggle to cope with lower energy prices, the World Bank has said in its half-yearly economic health check.
The pound swung wildly on currency markets on Monday, reaching extremes of volatility not seen since the financial crisis, as City traders reacted to polls suggesting voters were increasingly likely to send Britain out of the EU this month.