Economic conditions
The Bank of England's Monetary Policy Committee (MPC) is facing a difficult decision as it considers its next move on interest rates, with the housing market showing signs of strength and consumer debt continuing to rise. Despite the rise in interest rates, economists believe that the MPC is
Economic conditions
The American car industry is experiencing record sales levels, boosted by customers trading in their cars before paying off loans and taking out longer and longer loans to keep their monthly payments flat. However, this trend has created a potential timebomb: 28% of drivers looking for a new car have
Economic conditions
The foreign exchange market is exhibiting strange behavior lately, with the US dollar's movements seemingly decoupled from those of the US stock market. Historically, a weakening US stock market would lead to a decrease in the demand for dollars, causing the currency to depreciate. However, in recent times,
Economic conditions
Poland's economy and politics are in a state of chaos, with the unemployment rate reaching a record high of 20.6% in January, according to recent figures. The zloty has also continued to fall, reaching a new low of 4.93 to the euro, despite attempts by the
Economic conditions
Jeremy Peat, Royal Bank of Scotland's chief economist, has a unique perspective on the UK economy, drawing from his extensive experience working on UK aid programs in war zones and his expertise in economics and politics. Currently, Peat is focusing on the health of the British economy, which
Economic conditions
Fernando Poe Jr.'s populist campaign promises have sparked fears of a debt crisis in the Philippines, a former Spanish colony struggling with a high level of public debt. Economists warn that the country is on a "knife-edge" and could face a default similar to Argentina'
Economic conditions
Britain's Chancellor of the Exchequer Gordon Brown can breathe a sigh of relief, but only just, after EU finance ministers warned that the country's deficit might exceed 3% of GDP for 2003. This would, according to the EU, constitute an excessive deficit under the stability and
Economic conditions
Russian shoppers, eager to improve their quality of life, have doubled their spending power since the country defaulted on its debt in 1998. Retail spending has grown from $70bn in 1999 to $146bn in 2003, a 23% increase in nominal dollar terms, according to Renaissance Capital. This growth is expected
Economic conditions
President George W. Bush yesterday presented a budget that cut a swathe of small spending programs while projecting a swelling deficit for the current year of $521bn. The budget proposal echoed the State of the Union address in being devoid of large new initiatives. The White House said its priorities
Economic conditions
The new official congressional forecast indicates that the US budget deficit is likely to be almost $1 trillion larger over the next decade than previously projected. The Congressional Budget Office (CBO) predicts that deficits from 2005 to 2014 will reach almost $1.9 trillion, a staggering $986 billion more than
Economic conditions
Consumer confidence among wealthy Americans has reached its highest level in over a year, with 56% of high-net-worth individuals citing the economy as the defining issue of the 2004 presidential election campaign. However, despite increased spending on investments, affluent consumers remain hesitant to spend and invest, with only 29% planning
Economic conditions
The Financial Services Authority has painted a bleak portrait of the British consumer, highlighting their lack of understanding of the financial markets and their aversion to risk. According to the FSA's Financial Risk Outlook, 17% of investors expect returns in excess of 7% over the next year, indicating
