Pressure is building in Britain for the bank’s governor, Andrew Bailey, to show that policymakers have a handle on the inflation problem.
Category: Economic Conditions and Trends
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Bank of England Pushes Interest Rates Up by a Half Point
The central bank raised rates more than expected as inflation shows signs of persistence in Britain.
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China’s Central Bank Cuts Loan Prime Rates
The reduction in the rates, which are used to set corporate loans and home mortgages, signal concern that the country’s post-pandemic rebound is stalling.
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China’s Economic Rebound Hits a Wall, With ‘No Quick Fix’ to Revive It
Policymakers and investors expected China’s economy to rev up again after Beijing abruptly dropped Covid precautions, but recent data shows alarming signs of a slowdown.
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Is Beyoncé Linked to Sweden’s Inflation? An Economist Says So.
As fans from around the world spent money to witness the kick off of the star’s tour in Sweden, they may have caused the country’s inflation rate to stay higher than expected.
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Oregon Town’s Marijuana Boom Yields Envy in Idaho
Tax revenue has surged since cannabis stores opened in Ontario, Ore., fueling a push in neighboring Idaho to legalize sales and get in on the action.
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Global Oil Demand Is Set to Slow
The International Energy Agency said oil consumption will hit a peak in a few years, with shrinking gasoline use after 2026.
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Japan’s Stock Market Is Booming. Here’s Why.
The Japanese stock market is up nearly 30 percent this year, far ahead of the S&P 500, as firms bet that changes in how companies are run might just finally last.
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Generative A.I. Can Add $4.4 Trillion in Value to Global Economy, Study Says
The report from McKinsey comes as a debate rages over the potential economic effects of A.I.-powered chatbots on labor and the economy.