In August 2023, China’s industrial output experienced its slowest growth in five months, raising concerns about the stability of the world’s second-largest economy. Official data from the National Bureau of Statistics (NBS) revealed that industrial production rose by just 4.5% year-on-year, a decline from the 5.1% growth recorded in July. This figure fell short of
Economy
This week, the foreign exchange markets witnessed significant fluctuations as the dollar suffered its greatest decline this year against the Japanese yen. With media outlets sparking renewed discussions regarding a potentially large cut to Federal Reserve interest rates, currency traders maneuvered amidst heightened uncertainty. Reports indicated that the U.S. dollar saw a drop of 1%
Amidst growing concerns about inflation and economic sustainability, Bank of Japan policymaker Naoki Tamura has made a bold statement regarding the necessity of raising interest rates to at least 1%. This call for action comes at a time when the central bank is facing increasing pressure to implement measures that would push up short-term borrowing
Shigeru Ishiba, a former defense minister, is a prominent figure in the Liberal Democratic Party’s leadership race. Despite his long tenure in politics, Ishiba has faced several defeats in his quest to lead the party. However, his recent stance on issues like renewable energy and gender equality has garnered attention and support. Ishiba’s economic strategy
The recent years have seen steep interest rate hikes by the Federal Reserve in an attempt to slow down the U.S. economy. However, contrary to expectations, these hikes have not had a significant impact on the overall economy. The economy has continued to grow at an annualized rate of over 2% in most quarters since
Policymaker Junko Nakagawa of the Bank of Japan recently stated that the central bank will persist in increasing interest rates if inflation progresses as projected. Nakagawa emphasized the importance of considering the potential consequences of market volatility on the economy and prices before deciding on further rate hikes. Despite ending negative interest rates in March
World Bank President Ajay Banga recently spoke at the Lowy Institute think tank in Sydney after visiting 27 countries, including Tuvalu and Fiji. He highlighted the need for the global lender to expedite its processes and streamline its operations in a world that is increasingly polarized. According to Banga, the aspirations of people worldwide are
As the new week begins, Wall Street is showing signs of a rebound from the heavy losses it experienced last week. Investors are optimistic about a potential soft landing scenario for the U.S. economy, especially with a crucial inflation report expected later in the week. Despite the recent volatility and uncertainty surrounding the health of
France has recently requested the European Commission to extend its deadline for submitting a plan to reduce its public deficit beyond Sept. 20. This request was made in order to align with Paris’ 2025 draft budget. The Finance Ministry emphasized the importance of coherence between the reduction plan and the future budget, indicating potential challenges
U.S. Treasury Secretary Janet Yellen recently shared her thoughts on her future plans after President Joe Biden’s term ends in January. During the Texas Tribune Festival in Austin, Texas, Yellen mentioned that she is “probably done” serving at the highest levels of government but left room for ambiguity by adding, “we’ll see.” This statement hints