inflation
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Tapping Emergency Reserves This is, almost without exception, a big, fat, NO. Raiding your emergency fund simply to maintain the posh lifestyle to which you have become accustomed is an abysmal strategy. Keeping Showtime Anytime may be important, but it’s not likely to meet the definition of a crisis. Remember Steklov’s warning: Nobody picks the day their car engine…
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The UK inflation rate may have fallen by more than expected in June, with the rate of 7.9 percent being its lowest in more than a year, but it is still one of the highest inflation rates of any advanced economy – driving up the cost of essential goods and services. So, cash-strapped consumers are…
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US President Joe Biden named two Washington policy veterans as key economic advisers on Tuesday as he faces a Republican controlled Congress and embarks on a possible re-election run for 2024. Federal Reserve Vice Chair Lael Brainard has been picked to lead the National Economic Council (NEC) — a body that advises the president on domestic and…
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Inflation in Turkey tops 83% as lira drops and Erdogan promises more interest rate cuts If you’re living in Europe and feeling squeezed by double-digit inflation, spare a thought for your Turkish counterparts. Turkey’s annual inflation rate hit 83.45 per cent in September, a new 24-year high, the country’s statistics office said on Monday. The cost…
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Rising inflation and looming recessions are squeezing household finances, but businesses also worry about an economic downturn. This is not just because of higher bills, but also because consumers spend less and finance from banks and investors dries up when the economy worsens. Even strong industries such as technology feel these effects. With the Standard…
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Sterling came under pressure on Thursday after the Bank of England wrongfooted investors by hiking interest rates by less than some anticipated. The pound fell from $1.148 to $1.1222 after the bank opted to hike the base rate by 50 basis points to a 14-year high of 2.25 per cent, with the City having been…
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It’s all going up: electricity, diesel, vegetables, the Internet, hotels, flights, and now, interest rates. The war in Ukraine, the on-and-off lockdowns in China, a persistent power crunch and disrupted production chains have bumped into a huge appetite for goods and services, upsetting the delicate balance between supply and demand and driving prices to record…
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The former Deputy Governor of the Central Bank of Nigeria (CBN), Professor Kingsley Moghalu has blamed the nation’s worsening economy on the Minister of Finance, Zainab Ahmed, describing her fiscal mismanagement of Nigeria as a ‘calamity’. Moghalu, who contested to be Nigerian President in 2019 under the platform of the Young Progressives Party (YPP) and…
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Experts dismiss the idea that greedy companies have been the main reason for a jump in inflation this year. Experts point out that for four decades the market power of businesses over consumers has risen an average of about 1% annually, but that inflation has remained low during that time until the recent upswing, The Hill reported on Wednesday. This…
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Inflation is increasing, and many people will be concerned about the cost-of-living crisis that is unfolding. Inflation hit a 30-year high of 6.2 per cent in February, up from 5.5 per cent in January, and the fastest rise since 2009. The Bank of England has warned inflation could rocket to eight per cent this year as food and…
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Americans quit their jobs at a record pace for the second straight month in September 2021, while businesses and other employers posted a near-record number of available jobs. The Labor Department said Friday that 4.4 million people quit their jobs that month, or about 3% of the nation’s workforce. That’s up from 4.3 million in…
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If there’s one thing an incumbent candidate seeking re-election does not need, it is unwelcome news from the economic front. But with less than a week to go before Canadians cast their votes in a tight federal election race pitting Prime Minister Justin Trudeau’s Liberal Party against the Conservatives headed by Erin O’Toole, the latest readings on…
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The Bank of England (BoE) said on Thursday, August 5, it could see a modest reduction ahead in the huge support it has provided to Britain’s economy during the COVID-19 pandemic and set out how it could gradually tighten monetary policy. For now, the central bank decided to keep its stimulus at full speed, even though it expects inflation to jump…
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