UK's Hunt: Economic slowdown 'inevitable' - Breaking The News

UK's Hunt: Economic slowdown 'inevitable'

13 December

1 min read

EPA-EFE/TOLGA AKMEN

United Kingdom Chancellor of the Exchequer Jeremy Hunt commented on the latest reading of the country's gross domestic product on Wednesday, stressing that it is "inevitable" for the economic growth to be "subdued" as interest rates "do their job to bring inflation down," Sky News reported quoting the chancellor.

Britain's Office for National Statistics (ONS) revealed earlier this morning that the gross domestic product contracted by 0.3% in October. Last month, Hunt projected in his Autumn Statement that the country's economy will expand by 0.6% this year and 0.7% in 2024.

inflation gdp hunt

Powell: Employment, PCE crucial data for Fed

4 April

Federal Reserve Chair Jerome Powell emphasized on Friday that employment and inflation remain core data points guiding monetary policy, with the labor market presenting particular complexity.He reiterated that while the public often focuses on the Consumer Price Index (CPI), the Federal Reserve targets inflation using the Personal Consumption Expenditures (PCE) Price Index, which better reflects shifts in consumer behavior. Powell stressed the importance...

Powell: COVID echoes today, but it's not the same

4 April

Federal Reserve Chair Jerome Powell on Friday reflected on the economic upheaval triggered by COVID-19 and how today’s challenges, while reminiscent of that crisis, are unfolding under very different circumstances.Speaking about the impact of "Liberation Day," a reference to a new policy shift or a political turning point, Powell said the economic aftermath of the pandemic still shapes the Fed's current decisions. "It kind of rhymes," he noted, "but it's not exactly...

Powell: Trump's tariffs pose larger economic risks

4 April

Federal Reserve Chair Jerome Powell said the economic impact of the Trump administration's tariffs is likely to be more severe than previously expected. "Too soon" to change course, he added, as the Fed continues to monitor data and risks.In a speech in Virginia, he said that tariff increases are expected to raise inflation in the coming quarters. While short-term inflation expectations have moved up, Powell noted that longer-term expectations remain anchored...

Goldman Sachs trims 2025 Bund yield forecast

2 April

Goldman Sachs has revised its forecast for the yield of the 10-year German Bund while also expressing concerns about weakening growth projections, according to a note by George Cole and Williams Mashal.According to the strategists, although the European Central Bank may face inflationary pressures, fiscal expansion plans across the Eurozone will likely counterbalance those forces."Eventual fiscal loosening should keep Bund yields near current...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.