Janet Yellen, the U.S. Treasury Secretary, will urge the World Bank on Wednesday to implement further reforms this year to enhance its capability to assist developing nations in tackling global issues like climate change. On Wednesday, Janet Yellen is leading discussions with global financial officials to explore methods for the World Bank and other multilateral…
Analysts predict that the Bank of Canada will maintain its current interest rates on Wednesday due to cooling inflation and stress in the global banking system, despite the acceleration of growth in the first quarter. Last month, Governor Tiff Macklem announced that the Bank of Canada would pause its tightening campaign, leaving the benchmark rate…
The International Monetary Fund (IMF) stated on Tuesday that the global economy is cooling and facing multiple risks, including the volatile banking sector, high inflation, and rising interest rates. According to the latest World Economic Outlook report from the IMF, total economic output is expected to rise by 2.8% this year, representing a deceleration from…
The IMF has issued a warning that the global economy could face a “hard landing” if inflation persists and leads to extended periods of high interest rates, thereby increasing financial risks. In its latest World Economic Outlook published on Tuesday, the IMF kept its overall economic forecasts largely the same as those from January. However,…
This year, low-income countries will be hit with their largest bills for foreign debt servicing in 25 years due to higher interest rates. As a result, their spending on crucial areas such as health and education is in danger of being compromised. According to a study that will be published in the coming days by…
Last month’s price increases are anticipated to have further subsided, according to an inflation measure closely monitored by the government. According to Bloomberg estimates, March’s Consumer Price Index (CPI) is anticipated to be 5.2%, reflecting a deceleration from the 6% annual gain observed in February. The CPI is scheduled to be released on Wednesday. While…
JPMorgan Chase CEO warns of potential economic recession and higher interest rates, while expressing confidence in the banking system’s resilience. In an exclusive interview with CNN’s Poppy Harlow on Thursday, JPMorgan Chase CEO Jamie Dimon stated that the recent collapse of Silicon Valley Bank and Signature Bank has raised the likelihood of an economic recession…
After six consecutive rate hikes, the Reserve Bank of India (RBI) has caught the markets off guard by deciding to hold its key rates steady. The central bank has stated that it is closely monitoring the impact of recent global financial turbulence, leading to its decision to pause on any further rate hikes for the…
There are many factors to consider when moving to a new state including the cost of living, housing availability, and climate conditions among others. One of the most important is the cost of living. While uprooting your life for cheaper a house may not entirely be a good option, moving into a more budget-friendly state…
Metaverse economy is the latest buzzword trending in the digital space. The idea of the metaverse was first conceived in 1992 through a sci-fi novel called Snow Crash. While it has been around for decades, metaverse has remained incomprehensible to much of the general public and only gained ground in recent days. Now this new…