Singapore’s inflation may have eased slightly, but central bank warns pain likely to linger

Singapore skyline from the Merlion park on May 15, 2020. Roslan Rahman | AFP | Getty Images Singapore’s economy is likely to face persistent pain from global financial concerns, even though the country’s core inflation eased somewhat in October. The Monetary Authority of Singapore warned of prolonged risk factors piling onto the nation’s financial vulnerability … Read more

Fed officials see smaller rate hikes coming ‘soon’

Federal Reserve officials earlier this month agreed that smaller interest rate increases should happen as soon as they evaluate the impact the policy is having on the economy, meeting minutes released Wednesday indicated. Reflecting statements that multiple officials have made over the past several weeks, the meeting summary pointed to smaller rate hikes coming. Markets … Read more

Is the Fed ‘going rogue’? Calls heat up to back off quest for 2% inflation

For at least a decade, the Federal Reserve’s position that a 2% inflation rate is where the economy best functions has been taken as gospel. But with a recession potentially on the horizon and the Fed continuing to slam on the brakes, calls are rising that the central bank should re-examine what has been essentially … Read more

Commerzbank chief says he’s not preparing for disaster, but mild recession

A “mild recession” is on the cards, according to Commerzbank CEO Manfred Knof. Picture Alliance | Picture Alliance | Getty Images Commerzbank CEO Manfred Knof says the bank has prepared for an uplift in nonperforming loans, but the situation is “definitely not a disaster or default issue” as a “mild recession” is likely in the … Read more

The global stock market rally could be about to meet recession reality

Specialist traders work inside a post on the floor of the New York Stock Exchange (NYSE) in New York City, November 10, 2022. Brendan McDermid | Reuters Global stock markets have rallied on hopes that central banks will soon begin to slow their aggressive interest rate hikes as inflation shows signs of peaking, but strategists … Read more

Fed’s Daly sees rates rising at least another percentage point as ‘pausing is off the table’

San Francisco Federal Reserve President Mary Daly said Wednesday she expects the central bank to raise interest rates at least another percentage point, and possibly more, before it can pause to evaluate how the inflation fight is going. Daly told CNBC in a live interview that her most recent estimate in the Fed’s summary of … Read more

UK inflation hits 41-year high as food and energy prices continue to soar

UK inflation hit a 41-year high of 11.1% annually in October, as household energy bills and food prices continued to soar. Dan Kitwood | Getty Images News | Getty Images LONDON — UK inflation jumped to a 41-year high of 11.1% in October, exceeding expectations as food, transport and energy prices continued to squeeze households … Read more

These currencies have tanked this year — and one is down over 75% against the dollar

Zimbabweans queue to withdraw money from a bank on June 21, 2008 in Bulawayo, Zimbabwe. Sky-high inflation continues to affect the Zimbabwean economy. John Moore | Getty Images News | Getty Images Foreign exchange markets have endured a rocky ride in 2022, but in some countries, a combination of geopolitical pressures and central bank missteps … Read more

UK on the brink of recession after economy contracts by 0.2% in the third quarter

The Bank of England has warned that the UK is facing its longest recession since records began a century ago. Huw Fairclough | Getty Images News | Getty Images LONDON — The UK economy contracted by 0.2% in the third quarter of 2022, signaling what could be the start of a long recession. The preliminary … Read more

Bank of England must balance rate hikes and economic risks, chief economist says

A passageway near the Bank of England (BOE) in the City of London, UK, on ​​Thursday, March 18, 2021. Hollie Adams | Bloomberg | Getty Images LONDON — The Bank of England will need to continue hiking interest rates in order to bring inflation under control without hitting the UK economy too hard, Chief Economist … Read more