IMF cuts global growth forecast and warns on UK inflation

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Apr 16

US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...

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Quick Glance: IMF upgrades global growth forecast despite risks

The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.

IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.

While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.

Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.

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Apr 17

UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.

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Quick Glance: Powell Warns of Lack of Progress on Inflation

Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.

Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.

Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.

Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.

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Apr 09

Zimbabwe's new ZiG currency starts trading, credibility doubts linger: Zimbabwe's new gold-backed currency started trading on Monday amid doubts that the ...

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Apr 16

Concern for Bank of England as real earnings growth at highest rate since 2021: While the wage figures are good news for households on the face of it ...

news.sky.com/story/real-earnings-growth-at-its-highest-rate-in-nearly-two-and-a-half-years-13116319

Quick Glance: Rising Real Earnings Growth Raises Concerns at Bank of England

An unexpectedly weaker decline in the pace of wage increases has led to real earnings growth reaching its highest level in nearly two and a half years when considering inflation, according to the latest official data.

Recent official figures indicate that average regular pay without bonuses was at 6% in the three months to February compared to the previous year.

The broader ONS statistics revealed an increase in the UK's unemployment rate from 3.9% to 4.2%, with caution due to ongoing efforts to enhance the reliability of employment data.

The forthcoming inflation data expected on Wednesday is likely to demonstrate further progress towards the Bank's objectives and the potential for a decrease from the current 5.25% interest rate.

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Apr 08

State pension increase: How much will payments go up in April with the triple lock?

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Apr 10

Inflation came in hot at 3.5% in March, CPI report shows. What it means for Fed rate cuts

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Apr 18

Heineken Ireland is latest to hike price of pint from June: Heineken Ireland has announced that the price of its draught products will increase from June 4.

independent.ie/business/irish/heineken-ireland-is-latest-to-hike-price-of-pint-from-june/a1053458282.html

Last Updated	Jul 26 22
Total Articles	2

IMF cuts global growth forecast and warns on UK inflation: