The historic shift with the two Nordic countries comes as a result of Russia's invasion of Ukraine.
Britain's economy shrank for the first time in 2022 after GDP fell 0.1% in March as surging inflation puts the tightest squeeze on household spending.
(Bloomberg) -- The Reserve Bank of India is once again seeking to defend its currency when the Federal Reserve is tightening.Most Read from BloombergDon’t Bother Paying Off Student Loan Debt Right Now, Advisers SayBiden Team Sees China Tilt Aided as Putin Falters in UkraineMarcos Jr. Leads With 61% of Votes Counted: Philippines UpdateStocks Bounce Back in Countdown to Key CPI Data: Markets WrapChina Risks 1.6 Million Deaths in Virus ‘Tsunami’ If Covid Zero Is Abandoned: StudyThis time though, an
The BoE warned on Thursday that inflation was heading to a 40-year high of 10%, while unemployment was set to hit 5.5% by 2025, sending the pound slumping to two-year lows.
A busy economic calendar, central bank policy decisions and chatter, and news updates on the war in Ukraine will be the key drivers in the week ahead.
Chinese President Xi Jinping called for an “all-out” effort this week to boost the world’s second-largest economy through infrastructure investments, signaling growing internal concerns about China’s growth prospects.
Eurozone inflation rose to 7.5% in April, up from March’s 7.4% reading. Prices jumped by 0.6% in April alone, the statistics office Eurostat said.
This month's dive in China's currency has revived memories of past routs but market participants say increased foreign holdings of yuan assets mean authorities are much less likely to curb the selling than they were in previous years. The yuan hit an 18-month low on Friday and has slid more than 4.5% on the dollar in April, setting it on course for its worst month since currency market reforms of 1994. However, unlike 2018-19, when the yuan fell through the U.S.-China trade war, or 2015-16, when a domestic stampede to offshore assets accelerated a decline, investors and analysts say that foreign selling is now the dominant driver, presenting new downside risks.
Drop in US economy is significant in comparison to 2021's fourth-quarter growth of 6.9%, and far worse than the 1% growth economists had predicted.
China Beige Book CEO Leland Miller joins Yahoo Finance Live to discuss China’s COVID-19 policy, economic growth, and the outlook for Asian markets amid lockdowns.