Last month, inflation in the United Kingdom reached its highest annual rate since 1982, forcing finance minister Rishi Sunak to provide additional assistance to people and the Bank of England to maintain interest rate hikes despite the possibility of recession.   The Office for National...

There was a more than predicted expansion of factory output in the United States in April driven by the ongoing high demand for automobiles and other items, which should support manufacturing activity.   The Federal Reserve said on Tuesday that manufacturing production grew 0.8 per cent in...

Economists at the World Economic Forum (WEF) in Davos, Switzerland, have compiled five scenarios for the global economy and trade against the backdrop of the geopolitical situation. The document is published on the WEF website. There are five scenarios in the review. The first one suggests...

China has released poor economic data for April, highlighting the country's enormous damage caused by Covid lockdowns. Retail sales and industry production in the world's second largest economy fell dramatically short of market estimates.   According to China's National Bureau of Statistics,...

India has imposed restrictions on wheat exports. The country was expected to be able to replace grain supplies from Ukraine, which fell amid the conflict, but its own food security was threatened. The Indian authorities have imposed a ban on wheat export. Exceptions will be made only for countries...

Cryptocurrencies suffered significant losses on Friday, with bitcoin trading at $30,000 and on track for a record losing streak due to the collapse of TerraUSD, a so-called stablecoin.   Concerns about high inflation and rising interest rates have prompted widespread dumping of hazardous...

The world economy is threatened by a recession, experts from the international Institute of International Finance have warned. They also sharply lowered its growth forecast. Among the reasons are the situation around Ukraine and consequences of the COVID-19 outbreaks in China. Economists of the...

According to a statement on the Bank of Mexico's website, the Governing Council hiked the key rate for the third time in 2022, by 50 basis points to 7%. "From 13 May 2022, the Bank of Mexico's Governing Council has decided to raise its target overnight interbank interest rate by 50 basis points to...

Even with lower output from sanctions-hit Russia, the world will not run out of oil, the International Energy Agency (IEA) declared on Thursday, in a U-turn from its March prediction of a probable "global supply shock."   After warning on March 16 that 3 million barrels per day (bpd) could...