Banks (Finance)
Bank of England Governor Andrew Bailey has expressed concerns about the impact of higher employment taxes on pay and jobs, stating that there is mounting evidence that these taxes are hitting pay and job growth. Bailey emphasized the Bank's close monitoring of pay and its uncertainty about how
Banks (Finance)
Bank of England governor Andrew Bailey cautioned that growing evidence suggests employment tax hikes are hitting pay and jobs rather than leading to price hikes, introducing some uncertainty into the near-term outlook for inflation. Despite the recent spike up in inflation, Bailey stated that firms are responding to the national
Banks (Finance)
The Bank of England Governor Andrew Bailey has warned that the UK jobs market is weakening due to the Chancellor's National Insurance tax changes, which took effect from April. The changes, which have increased employer National Insurance contributions (NICs) to 15% from 13.8%, are having a significant
Banks (Finance)
Policymakers in the UK are closely watching Chinese export data as the UK's Office for National Statistics (ONS) reported a 10% annual rate of increase in April, while data from the Chinese government shows a 16.1% increase in exports to the UK in May, the highest level
Economic growth
US Federal Reserve Chair Jerome Powell, speaking at the Senate Committee on Banking, Housing and Urban Affairs, stated that the central bank does not expect to face stagflation in the economy. However, he acknowledged the bank is monitoring the situation closely. Powell noted the central bank's dilemma in
Banks (Finance)
Megan Greene, a member of the Bank of England's Monetary Policy Committee, has expressed concerns that recent rises in inflation may persist for longer than anticipated, posing challenges for policymakers. In her speech at the National Institute of Economic and Social Research, Greene highlighted the likelihood of stubborn
Economic growth
Tensions in the Middle East following US airstrikes on Iran's nuclear sites may derail the Philippines' price stability gains and dampen economic growth, economists warn. The escalation of the conflict could lead to a spike in global oil prices, reducing recent gains in price stability. Higher fuel
Economic growth
According to the National Bank of the Republic of Macedonia, economic growth in the country is expected to reach three percent in the current year, with medium-term forecasts pointing to a growth of about four percent. The main driver of this growth will be investments, supported by a public infrastructure
Economic growth
Cabo Verde's economy has made notable strides in recent years, particularly in macroeconomic management, debt reduction, and poverty alleviation. According to the latest World Bank report, the country's economy continues on a strong recovery path, supported by robust tourism activity and a modest recovery in agriculture.
Inflation (Economics)
UK inflation rose to 3.4% in May, down slightly from the 3.5% reported in April. The annualised inflation rate, which takes into account price increases over a 12-month period, decreased to 3.5% in the 12 months to May, down from 3.8% in April. The core inflation
Tariffs
JPMorgan Chase CEO Jamie Dimon has issued a cautionary warning about the state of the U.S. economy, suggesting that it may soon "deteriorate." Speaking at a Morgan Stanley conference, Dimon attributed the potential downturn to the fading impacts of pandemic-era government spending and monetary policy, which have
Tariffs
Consumer prices in the United States are expected to rise 2.5% in May compared to the same month last year, driven by President Donald Trump's tariffs on imports, which are expected to contribute to higher costs of goods such as clothes, furniture, and appliances. The inflation rate
