Raising UK interest rates soon simply isn’t cricket, the Bank of England’s chief economist has declared, in an intervention that swapped the spreadsheet for the Wisden almanac.
Global markets suffered sharp falls again as investor fears of an economic slowdown were reinforced by a poor set of US data.
The prospects of an interest rate rise in the next few months have dimmed after inflation fell to a five-year low last month.
Germany has slashed its growth forecasts for this year and 2015, sparking calls for a public spending boost to prevent the eurozone falling into a triple-dip recession.
Weakness in stocks is distracting from tailwinds in the economy: lower oil prices, a better U.S. economy and high cash levels at U.S. corporations.
Inflation has slumped to its lowest rate for five years, hitting 1.2% in September and taking pressure off the Bank of England to raise interest rates in coming months.
Goldman Sachs slashed its growth forecast for Hong Kong as pro-democracy protests stretched into their third week, with no end in sight.
Six years ago, finance ministers and central bank governors gathered in Washington for the annual meeting of the International Monetary Fund with the global financial system teetering on the brink.
Here we go again. Just as it looked like the recovery was on a firmer footing, and a little smugness had even crept in over Britain growing faster than other big economies, we’re hit with fresh warnings about a slowdown.
Britain’s biggest property website has rebuffed claims that the housing market is heading for a slowdown, with a forecast that prices will soar by 30% over the next five years to average £318,000 in England and Wales and more than £715,000 in London.
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.