The kingdom said its move to reduce oil production by one million barrels a day would continue through September.
Category: Economic Conditions and Trends
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Europe’s Economy Expanded in Spring, and Inflation Has Eased
The eurozone economy grew more than expected, while inflation slowed after a string of rate hikes from the European Central Bank.
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China Details Plans to Stimulate Consumer Spending
The central government listed measures aimed at prodding people to open up their wallets, but absent was how much it will spend to support the stimulus plan.
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Russia’s Wartime Spending Raises Fears of an Economic Bubble
The economic strength has helped to maintain popular support for Vladimir Putin’s war, but some have warned the state-led spending is threatening the country’s financial stability.
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Bank of Japan Edges Toward Letting Rates Rise
Bank of Japan takes a step toward allowing interest rates to rise, saying it will be more flexible in managing its bond market.
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Global Economy Shows Signs of Resilience Despite Lingering Threats
The International Monetary Fund upgraded its global growth forecast for 2023.
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Russia Strikes Danube Port, Escalating Attacks on Ukraine Grain Routes
The assault, across the river from Romania, heightened the risk of a more direct confrontation with a NATO member and came on the same day that drones struck buildings in Moscow.
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China’s Government Offers Love, but Entrepreneurs Aren’t Buying It
The government’s new 31-point guidelines meant to inspire confidence feel empty to businesspeople after a three-year clampdown and no concrete changes.
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U.K. Inflation Rate Slows to 7.9 Percent
The larger-than-expected slowdown, led by motor vehicle fuel prices, offers some relief to the government and the Bank of England.
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As Sunak Makes His Case to Britons, the Economy Undermines It
Britain’s stubbornly high inflation rate has come to symbolize a deeper economic malaise — a morass of problems, some new, others longstanding, that are stymying Prime Minister Rishi Sunak.
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Why Britain’s Mortgage Holders Are Being Squeezed
The Bank of England’s campaign to curb inflation is pushing up monthly payments for millions of homeowners.
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Why Britain’s Mortgage Holders Are Being Squeezed
The Bank of England’s campaign to curb inflation is pushing up monthly payments for millions of homeowners.