A large interest rate hike could be in store from the European Central Bank to combat soaring inflation.
Some expect the latter after the latest inflation data, while some ECB officials believe a 75-bps move should be at least discussed. Surging energy costs this year have plagued global economies as Russia’s invasion of Ukraine exacerbated supply concerns. Oil prices moderated over the summer amid some uncertainty over fuel demand, with central banks raising interest rates to squash inflation.TO-DO LIST FOR NEW PM
Whoever is crowned leader will face one of the most daunting economic backdrops in decades. The Bank of England is hiking interest rates rapidly to tame surging inflation, just as the economy is tipped to slide into a recession that the BoE forecasts will last until 2024. It has raised rates every month since May, but RBA policymakers, analysts and investors all agree that the most aggressive tightening since the early ‘90s leaves much to be done.
In this file photo taken on January 11, 2019, shoppers walk outside the Macy's store at Manhattan's Herald Square in New York.Investors gauging the Federal Reserve’s interest rate path for the months ahead get another morsel of economic data on Tuesday, when the Institute for Supply Management reports the results of its monthly services sector survey.
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