global economy

Emmanuel Macron’s ‘grand bargain’ with Germany lies in tatters

Mr Macron’s implicit bargain with Germany and EU elites five years ago was that he would ram through a Thatcherite shake-up, sugared by cultural Leftism. It was to be a Gallic variant of Gerhard Schröder’s Hartz IV in the early 2000s, the reforms that propelled Germany agenda from sick man of Europe to lean competitor, …

Emmanuel Macron’s ‘grand bargain’ with Germany lies in tatters Read More »

World is on ‘tipping point’ of permanently high prices

But soaring prices have persisted, forcing monetary policymakers to rapidly raise interest rates. The BIS, which is considered the central bank of central banks, said: “We may be reaching a tipping point, beyond which an inflationary psychology spreads and becomes entrenched. This would mean a major paradigm shift.” The Bank of England has warned of …

World is on ‘tipping point’ of permanently high prices Read More »

Germany triggers ‘alarm’ stage of emergency gas plan as Putin cuts supplies

Ggood morning. The Government borrowed more than forecast in May, highlighting risks to the public finances as the cost-of-living crisis threatens to tip Britain into a recession. Rishi Sunak borrowed another £14bn last month, which was £2bn higher than economists had forecasts. Debt interest payments hit £7.6bn – the highest for any May on record, …

Germany triggers ‘alarm’ stage of emergency gas plan as Putin cuts supplies Read More »

Biggest rise in US interest rates since 1994 turns up heat on Andrew Bailey

Martin Beck, chief adviser to the EY Item Club, said higher US interest rates and the lower pound put more pressure on the Bank of England to accelerate rate rises. He said: “It puts more pressure on them to tighten. But whether they to be seen to do that too obviously is another question – …

Biggest rise in US interest rates since 1994 turns up heat on Andrew Bailey Read More »

Bank of England accused of ‘bottling’ interest rates after eighth new inflation forecast

The boss of Halfords has accused the Government of taking a “backwards step” with its decision to end the plug-in car grants scheme. The Government confirmed earlier this week that it was scrapping the £1,500 subsidy for purchases of new electric cars, saying it would “refocus” funding to encourage users of other vehicles to make …

Bank of England accused of ‘bottling’ interest rates after eighth new inflation forecast Read More »

Fed unveils largest US interest rate rise in 28 years

Central banks have a case for front-loading interest rate rises as they walk a “fine line” between controlling inflation and supporting the economic recovery, Mark Carney has said. The former Governor of the Bank of England told Bloomberg: “Central bankers need to catch up to their growing. They’ve been behind the curve, they’ve acknowledged this. …

Fed unveils largest US interest rate rise in 28 years Read More »