Strong Israel GDP And Inflation Data Seen Prompting 75 Bps Rate Hike
A sharp rebound in Israel's economic activity and a jump in annual inflation have made a 0.75-point interest rate increase more likely next week, analysts said on Tuesday.
Cash-strapped Britons give up pets as living costs soar
Stood on her hind legs to greet any prospective owner who might approach her glass-doored kennel, Harriet is a black English cocker spaniel abandoned as a deepening cost-of-living crisis pushes growing numbers of Britons to part with their pets.
Britain's opposition Labour Party to demand energy price cap freeze
Britain's main opposition Labour Party will call for the energy price cap to be frozen this autumn, a party source said, to help the public deal with another expected surge in energy bills during the worst cost-of-living crisis in decades.
India's July Inflation Eases To 6.71% As Some Commodity Prices Fall
India's consumer inflation dipped to 6.71% in July, easing for the third month in a row, helped by a slower increase in food and fuel prices and adding to expectations that the central bank may rein in the pace of its policy rate hikes next month.
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Cold and hungry: Food inflation bites Canada's north
In Canada's remote north, residents have long paid dearly for food, and rising prices have worsened an already dire situation, exposing the vulnerability of one of the world's biggest exporters of grains and meat.
No recession in Switzerland this year: chief economist
The State Secretariat for Economic Affairs official said the help for businesses during the Covid-19 pandemic could not become the norm during economic downturns.
Bank of England on brink of biggest rate hike since 1995
The Bank of England is expected to raise interest rates by the most since 1995 on Thursday, even as the risks of a recession mount, in an attempt to stop a surge in inflation from becoming embedded in Britain's economy.
Banks must reflect cost of living crisis in pay, says UK watchdog
Britain's financial watchdog said on Tuesday that the cost of living crisis, meeting climate targets and improving diversity should be reflected in how banks determine pay and bonuses.
Bank of England to get more aggressive with 50 Bps hike on Thursday
The Bank of England is now expected to lift borrowing costs by a bigger 50 basis points to 1.75% on Thursday as it battles soaring inflation, according to a Reuters poll taken over the past week after several economists changed their minds.
Indonesia's inflation jumps to 7-year high, sparks calls for rate hike
Indonesia's inflation accelerated to its highest in seven years, above the central bank's target range, while core inflation remained within target.
Inflation begins to strain finances of young, low-income Americans
As high inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to feel financial pressure.
Australia home prices slide, Sydney suffers worst month in 40 years
Australian home prices slid for a third month in July and the pace quickened as Sydney suffered its worst decline in almost 40 years amid rising borrowing costs and a cost-of-living crisis.
UK businesses expect zero growth over next 3 months - CBI
British businesses do not expect any growth over the next three months, as a surging cost of living squeezes consumer demand, a monthly survey showed on Sunday.
Fed to unveil another big rate hike as signs of economic slowdown grow
With the Federal Reserve expected to hike its key interest rate by three-quarters of a percentage point on Wednesday to battle high inflation, focus will shift to how deeply signs of an economic slowdown have registered with its policymakers.
Cost of living crisis? Europe's consumers keep spending
Europe's largest consumer-focused firms are seeing no shortage of demand despite a cost-of-living crisis.
Global growth headed down as inflation surge to endure
The global economy is in the grips of a serious slowdown, with some key economies at high risk of recession and only sparse meaningful cooling in inflation over the next year, according to Reuters polls of economists.
BoE torn over whether to join big rate hike club
The Bank of England must decide next week whether to join the ranks of central banks rushing out their biggest interest rate hikes in decades, or whether the warning signs of a recession mean it should tread more cautiously.
Inflation surge pushes up Britain's budget deficit
A surge in debt costs - pushed up by soaring inflation to twice their previous monthly peak - added to Britain's budget deficit in June, which was its highest since April 2021, data showed on Thursday.
European stocks retreat, euro dips while US shares rise
UK annual inflation hit a new 40-year high at 9.4 percent in June on surging fuel and food prices.
UK inflation hits 9.4%, bolstering bets on big BoE rate hike
Surging petrol and food prices last month pushed British inflation to its highest rate in 40 years, according to official figures that bolstered the chances of a rare half percentage-point Bank of England interest rate hike next month.
Baker Hughes' Q2 Loss Widens As Russia-related Charges, Inflation Bite
Oilfield services provider Baker Hughes on Wednesday reported a bigger second-quarter loss, hit by a $365 million charge from its Russian operations and supply chain inflation, while adjusted profits also missed analysts' forecasts.
South Africa Inflation Strikes 13-year High On Eve Of Rates Call
South African inflation surged to a 13-year high in June, data showed on Wednesday, moving further away from the central bank's target the day before an interest rate announcement.
Half of Britons changing food-buying habits to cope with cost-of-living crunch
Almost half of Britons are changing what they buy to feed their families as they try to navigate a worsening cost-of-living crisis, according to survey data published on Wednesday.
New UK finance minister targets inflation, 'sound finances'
Britain's government must focus on sound public finances and avoid further fuelling inflation by pumping up demand, new finance minister Nadhim Zahawi is due to say in his first major speech on Tuesday.
New Zealand's Inflation Hits 3-decade High, Raising Bets On Sharper Rate Hikes
New Zealand's consumer prices rose at their fastest pace in three decades, beating forecasts and raising the prospect of an unprecedented 75 basis point interest rate hike at the central bank's policy meeting next month.
Asia tries to bounce, tense week ahead for EU
Asian shares inched higher on Monday following a much-needed bounce on Wall Street, but nerves are stretched ahead of a near-certain rate hike in Europe and another round of corporate earnings reports.
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