The government has pledged support for the Bank of England (BoE) in its mission to curb inflation. Speaking after the publication of the latest GDP figures, Chancellor Jeremy Hunt attributed the 0.2 percent growth to the “underlying resilience in the British economy.” “Of course that’s positive but we still have a big issue with inflation….
Whitehall Pledges Support for Bank of England Ahead of Interest Rate Review
Dollar Eases as Traders Gear Up for Fed Skip
LONDON—The dollar hovered around multi-week lows against the euro and sterling on Wednesday, after unexpectedly soft U.S. inflation data cemented the view that the Federal Reserve will not raise interest rates later in the day. China’s yuan sagged to a 6–1/2-month trough after the central bank cut rates, and as speculation mounts that even more…
Stocks Edge Higher, Dollar Sags Eyeing Fed Pause
June 14, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Global shares edged higher and the dollar held near three-week lows on Wednesday as traders were all but certain that the U.S. Federal Reserve will refrain from hiking interest rates later in the session. Overnight, the much-watched U.S. CPI report showed prices barely rose in May, with just a 0.1 percent increase from the prior…
Students Need Work, Not Another Handout
June 14, 2023
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AustraliaBusiness & Marketseconomic policieseconomyinflationOpinionpersonal financerecessionstudent debtViewpointsWorld
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Commentary Handout culture is rampant in society today. People are seen as victims, and government handouts have become the natural response to any form of misfortune—great, small, or imagined. It, therefore, came as no surprise that the response to recently announced increases in indexation to student debt was a call for another government handout. In…
Australian Leading Financial Expert Calls For Better Solutions to Inflation
June 13, 2023
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AustraliaAustralian inflationBusiness & Marketseconomic policieseconomyinflationinterest rate hikespersonal financerecessionReserve Bank of AustraliaWorld
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One of Australia’s leading financial experts, Mark Bouris, has called for better solutions to tame high inflation, expressing deep concern following the RBA’s June interest rate hike. In a piece published in news.com.au, the executive chairman of Yellow Brick Home Loans has asked for an explanation of the central bank’s latest decision to institute the…
States Sending Tax Rebates and Stimulus Checks
June 13, 2023
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Business & Marketseconomic policiesinflationpersonal financePolicies & Impactsrelief paymentsstimulus checksUSUS News
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While federal stimulus checks ended several years ago, some states have continued to provide assistance to residents in the form of tax rebates or so-called “inflation relief” payments. In context of such payments, the Internal Revenue Service (IRS) issued clarification earlier this year that most relief checks issued by states last year aren’t subject to federal…
Why Are Beef Prices Soaring?
First, it was eggs, and now it’s beef. Just in time for grilling season, beef prices continue to rise. And although the overall economy is contributing to the increase, other factors are at work. With budgets already stretched, the thought of additional costs to your meal is frustrating. But how high are beef prices expected…
US Inflation Slows to Lowest Level in 2 Years as Food, Energy Prices Continue Downward Trend
The annual inflation rate slowed to 4 percent in May, down from 4.9 percent in April, according to the Bureau of Labor Statistics (BLS). This came in below the consensus estimate of 4.1 percent and represented the lowest level in two years. On a month-over-month basis, the consumer price index (CPI) rose just 0.1 percent,…
US Inflation Slows to 2-Year Low as Energy Prices Continue Downward Trend
The annual inflation rate slowed to 4 percent in May, down from 4.9 percent in April, according to the Bureau of Labor Statistics (BLS). This came in below the consensus estimate of 4.1 percent and represented the lowest level since March 2021. On a month-over-month basis, the consumer price index (CPI) rose just 0.1 percent,…
US Household Concerns Over Credit Conditions, Finances Deteriorate as Inflation Anxieties Ease
Americans’ concerns regarding credit conditions and their own financial situations deteriorated in May, while anxieties over inflation in the coming months dropped to the lowest point since May 2021, new data published on June 12 show. According to the Federal Reserve Bank of New York’s May survey of consumer expectations, median inflation expectations among Americans declined by 0.3…
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