The U.S economy is expected to sink into a recession in the next 12 months as the Federal Reserve ramps up efforts to bring down raging inflation and cost of living. This is according to the Wall Street Journal’s latest survey of economists. The report puts the probability of the U.S economy tipping into a recession…
The latest government revised figures show the U.S economy dropped for two consecutive quarters, with Gross Domestic Products (GDP) shrinking at an annual rate of 0.6 percent in the second quarter of 2022. This is similar to what has been projected earlier. Furthermore, the 1.6 percent which had been reported in the first quarter also…
The Bank of Japan has maintained its ultra-low interest rates in its latest review following a monetary policy meeting held on Thursday, September 22, 2022. The move is a long-held tradition of the Japanese government and was meant to reassure markets of the bank’s continued resilience against a global tide of central banks that are…
The Federal Reserve increased interest rates by another 75 basis points on Wednesday to help cool the country’s stubbornly high inflation. This move sparked experts’ concern that the economy may have already entered a recession. In a press conference following the rate hike, Fed Chairman Jerome Powell stated that he doesn’t think the economy is…
The Bank of England (BoE) is set to make its latest interest rate decision on Thursday, August 4th. The consensus is that the BoE will avoid raising rates by more than 25 basis points; however, this decision is a very close call. In December, the BoE increased interest rates five times, with three of the…
At the start of the COVID-19 pandemic in late 2019, governments and policymakers faced a tough balancing act; maintaining economic activity and keeping the population safe. As a rational norm, protection of human life and public safety top most government policy papers. The economy became the opportunity cost to protect their populations from a raging,…
In a more significant than expected action intended to combat inflation throughout the Eurozone, the European Central Bank (ECB) announced a hike in interest rates for the first time in more than ten years. The increase will become effective on July 27. Ironically, Mario Draghi resigned from his position as prime minister of Italy on…
Are we in a recession? Talks of a possible recession among bankers, economists, and analysts have increased due to an uncertain economic backdrop caused by raising inflation, sky-high interest rates, and chaotic stock markets. While the U.S economy has remained resilient with robust consumer spending, and a strong job market on average, worries of increasing borrowing…
While countries worldwide have been struggling in the face of pandemic headwinds, China has stood out, appearing resilient to financial pressures that undermined growth. But today, burdened by its dedication to containing the spread of Covid-19 with massive lockdowns and mass quarantines, China has seen one of its worst quarterly performances in years, endangering a global…
A brutal start for stock markets in 2022 only got worse in June. The benchmark index, the S&P 500, ended the first half of the year with a loss of about 21 percent, which was the steepest half-year loss in more than five decades. This put the benchmark index well in bear market territory. This…