Economic Policy

Chancellor Jeremy Hunt reversing many of Prime Minister Liz Truss’s planned tax cuts could offer interest rate relief to businesses and consumers.

Charles Evans, the President of the US Federal Reserve Bank of Chicago, has recently revealed that he believes interest rates in the United States will peak at below 5%.

Some financial industry officials are calling on the Bank of England to call an emergency meeting to increase the base interest rate to prop up the plunging pound.

There have been warnings the USA could be heading for what one economist described as a ‘long and ugly’ recession. But many believe the country is already in a recession.

Swedish central bank, the Riksbank has shocked the nation this week after announcing a full percentage point increase in base interest rate

New data relating to unemployment levels in the UK has led to predictions of the base rate increasing to 4% over the remainder of this year

A leading bank official in Australia has said that rate rises and soaring inflation have started to bite as consumers cut back on spending in certain areas.

The Reserve Bank of Australia’s Philip Lowe has warned that there will be at least two more base rate hikes as the RBA struggles to bring inflation back under control.

Data has shown that global stocks have weakened in the face of interest rate hikes, as central bank officials issue stark warnings to investors.

Despite lower inflation forecasts, the central bank of South Korea has increased its base rate again with the latest hike of 0.25% taking the base rate to 2.5%.