Tag: Economics
US could wait until next summer to raise interest rates, say economists
Surveyed experts predicted last weeks rate rise would be followed by two more next year, not three. The Federal Reserve could wait until at least next summer before raising interest rates again, according to Wall Street economists surveyed by the Financial Times. Expectations that a rate rise last week by the US central bank would […]
US Federal Reserve raises interest rates for second time since 2008 crisis
Fed chairwoman Janet Yellen announced a 0.25% increase in the benchmark rate to 0.50-0.75%, and predicted three further rates increase in 2017. The US Federal Reserve on Wednesday raised interest rates for the first time in a year, and only the second time since the 2008 financial crisis. The US central bank also predicted three […]
Brexit will blow 59bn hole in public finances, admits Hammond
Chancellor attempts to strike cautiously upbeat tone but OBR warns of extra borrowing over next five years. Philip Hammond conceded that Brexit will blow a 59bn black hole in the public finances over the next five years, as he outlined plans to boost investment in infrastructure and housing to equip the UK economy for life […]
Greek prime minister reshuffles cabinet to boost bailout reforms
Alexis Tsipras says time has come to speed up measures agreed with the country’s international creditors. The Greek prime minister, Alexis Tsipras, has reshuffled his government to boost bailout reforms in the hope of getting the EU to agree to critical debt relief by the end of the year. Heralding a new political era for […]
Natural disasters push 26m into poverty each year, says World Bank
Study finds floods, storms and droughts cost global economy $520bn a year and highlights need to tackle climate change. Floods, earthquakes, tsunamis and other extreme natural disasters push 26 million people into poverty each year and cost the global economy more than half a trillion dollars in lost consumption, the World Bank has said. A […]