Borrowers beware: Mark Carney’s clear message in his speech at Lincoln cathedral last week was that interest rates may have to rise soon – something anyone who has bought a home or taken out a loan in the past eight years will never have experienced.
They used to be pejoratively labelled the “Pigs”: Portugal, Ireland, Greece and Spain, the “peripheral” countries carried into the eurozone on a wave of prosperity that were all forced to go cap in hand to their neighbours – and the International Monetary Fund – when the financial crash came.
The euro zone is not delivering on its promises, according to former Federal Reserve Chairman Ben Bernanke.
Britain has been put on alert to expect its first interest rate rise since the global financial crash at around the turn of the year as the governor of the Bank of England, Mark Carney, warned that the long period of 0.5% borrowing costs was coming to an end.
Greek banks will benefit from an extra €900m (£630m) in emergency funding to keep them afloat, the European Central Bank has announced, possibly allowing bank branches to open on Monday.
Measures of CFO expectations for the next 12 months were at their lowest levels in five years this quarter.
Following weeks of stock market turmoil, China has confounded expectations that its economic growth would slow further in the second quarter, with gross domestic product rising by 7%.
Summer clothing sales are expected to have pulled UK inflation back down to zero last month, bringing more relief to households and taking pressure off the Bank of England to raise interest rates any time soon.