Global markets were rattled on Tuesday by renewed fears that Greece is close to bankruptcy while tough talk from George Osborne on the UK’s position in Europe added to jitters about the region’s future.
Treasurer Joe Hockey has revealed the deficit will beat his own December forecast as well as “market expectations” to come in below $40bn.
The late news from the make-or-break talks in Brussels was no news at all, really. There were a few encouraging words for the progress Greece is making on its reform plans. Athens also ordered a €750m (£535m) repayment to the International Monetary Fund. But an agreement on releasing €7.2bn of bailout funds? No.
China's third interest rate cut in six months has spurred concerns the mainland's economic slowdown is hitting where it hurts: the labor market.
The Bank of England returns to the spotlight this week when it unveils its latest economic forecasts against the backdrop of record low inflation and the prospect of deep government spending cuts.
Eurozone politicians are hoping for glimmers of a long-awaited economic rebound this week, with growth in the single currency bloc forecast to beat both the UK and US.
US unemployment has fallen to its lowest since 2008 after the economy added 223,000 jobs in April taking the unemployment rate down to 5.4% – close to the rate the Federal Reserve considers to be effective full employment.
Adi Godrej, the 73-year old patriarch and chairman of Indian conglomerate Godrej Group has high hopes for the country's economy.
Janet Yellen, chair of the US Federal Reserve, has highlighted the risks of ultra-low interest rates for financial stability, warning investors that share valuations are “quite high”.
Inflation remained at 0.3% in May after a rise in transport costs and hotel bills was offset by the falling cost of clothes and food.
Sterling could fall by 30% and the stock market by 20% if the UK should leave the European Union, according to a stark assessment from an award-winning team of independent economic analysts.
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.