China’s central bank, the People’s Bank of China (PBOC), is navigating the complex and challenging path of reforming its interest rate system to better align with global monetary practices. This shift aims to transition the country’s financial system from a state-dominated framework to one that is more market-driven, enabling credit costs to be dictated by […]

China is witnessing a significant surge in protests, with an 18% increase in dissent cases reported in the second quarter of 2024 compared to the same period last year. This rise in public discontent is largely driven by economic challenges, including a deepening real estate crisis and a sluggish economy, which have shaken the confidence […]

On August 27, 2024, oil prices experienced a significant 2% drop, driven primarily by concerns over slowing economic growth in major global economies, including the United States and China. The decline in oil prices followed a three-day surge of more than 7%, which had initially bolstered market optimism. However, fears of reduced energy demand have […]

In a significant development that could reshape the U.S. economic landscape ahead of the November presidential election, Federal Reserve Chair Jerome Powell signaled a strong likelihood of interest rate cuts in mid-September. Speaking at the Kansas City Federal Reserve’s annual Jackson Hole symposium on August 26, 2024, Powell indicated that the central bank’s focus would […]

The United Kingdom is bracing for yet another increase in energy bills as the nation grapples with the dual pressures of extreme weather and global geopolitical instability. The British energy regulator, Ofgem, announced a 10% rise in the energy price cap for household energy bills, effective from October 1, 2024. This increase brings the annual […]

Japan’s core inflation rate accelerated for the third consecutive month in July, according to data released by the government on Friday. The nationwide core consumer price index (CPI), which excludes volatile fresh food prices, rose by 2.7% compared to the same month last year. This is a slight uptick from the 2.6% rise recorded in […]

Introduction The rising cost of public services and benefits in the UK has led to a higher-than-expected increase in government borrowing, according to official figures released by the Office for National Statistics (ONS). In July 2024, borrowing reached £3.1 billion, marking the highest level for the month since 2021. This unexpected surge has sparked widespread […]

As anticipated, China opted to leave its key lending benchmarks unchanged during its monthly rate-setting meeting on Tuesday, maintaining the one-year loan prime rate (LPR) at 3.35% and the five-year LPR at 3.85%. This decision was widely expected by the market, reflecting the delicate balance China’s policymakers must strike between stimulating economic growth and managing […]

Vice President Kamala Harris is set to announce a robust economic agenda as she embarks on her first major policy rollout since becoming the Democratic Party’s presidential nominee. Following her recent ascension to the top of the ticket, replacing President Joe Biden, Harris is riding a wave of enthusiasm. Her campaign has been buoyed by […]

Goldman Sachs, one of the leading global investment banks, has adjusted its forecast regarding the likelihood of a U.S. recession within the next 12 months, lowering the odds from 25% to 20%. This revision comes in response to a series of favorable economic indicators, particularly the latest weekly jobless claims and retail sales reports, which […]