European Central Bank policymakers on Thursday lowered their annual inflation and growth forecasts, as they confirmed a widely expected hold of interest rates.Staff projections now see economic growth of 0.6% in 2024, from a previous forecast of 0.8%.They presented a more positive picture on inflation, with the forecast for...
Private sector job growth improved during February though growth was slightly less than expected, payrolls processing firm ADP reported Wednesday.Companies added 140,000 positions for the month, an increase from the upwardly revised 111,000 in January but a bit below the Dow Jones estimate for 150,000.Job gains came across multiple...
Yousef Gamal El-Din | CNBCEgypt's pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency.The steps were meant to facilitate an agreement with the International Monetary Fund, which is expected to confirm the extension of...
The Maslak financial and business center in the Sariyer district of Istanbul.Ayhan Altun | Moment | Getty ImagesTurkish annual consumer price inflation soared to 67.07% in February, the Turkish Statistical Institute said Monday, coming in above expectations.Analysts polled by Reuters had anticipated annual inflation would climb to 65.7% last...
British Finance Minister Jeremy Hunt said earlier this month the U.K. would not enter a recession this year.Hannah Mckay | ReutersLONDON — Economists expect U.K. Finance Minister Jeremy Hunt to use a small fiscal windfall to deliver a modest package of tax cuts at his Spring Budget on Wednesday.Heading...
A salesman preparing a bag of sweets for a customer in the Sicilian confectionery shop Mazzone on February 02, 2024 in Catania, Italy. Fabrizio Villa | Getty Images News | Getty ImagesInflation in the 20-nation euro zone eased to 2.6% in February, flash figures showed on Friday, but both...
Inflation rose in line with expectations in January, according to an important gauge the Federal Reserve uses as it deliberates cutting interest rates.The personal consumption expenditures price index excluding food and energy costs increased 0.4% for the month and 2.8% from a year ago, as expected according to the...
With markets on edge over the direction of inflation, a report Thursday that often flies under the economic radar is likely to take on more importance. The Commerce Department's measure of personal consumption expenditures prices could add to evidence that inflation is stickier than some economists and policymakers had...
Ali and Jamila Wright, Co-owners of Brooklyn Tea. The couple is optimistic about the state of Black employment but say there are many challenges.Courtesy: Brooklyn TeaLooking at the state of Black employment in America tells a mixed story: Much progress has been made in the age of Covid and...
JPMorgan Chase CEO Jamie Dimon thinks there's a better-than-even chance that the U.S. is heading for a recession, though he doesn't see systemic issues looming.Speaking Monday from the JPMorgan High Yield and Leveraged Finance Conference in Miami, the head of the largest U.S. bank by assets said markets probably...