The lira plunged 7 percent against the U.S. dollar, as a new finance minister promising “rational” economic policy takes charge
Tag: Inflation (Economics)
Russia and Saudi Arabia’s Oil Partnership Shows Strain
Analysts said the countries’ mutual need to keep energy prices high would help them maintain close ties, despite signs that Moscow has undercut previous deals.
World Bank Projects Weak Global Growth Amid Rising Interest Rates
A new report projects that economic growth will slow this year and remain weak in 2024.
Rishi Sunak Is Still Haunted by Boris Johnson and Liz Truss
Boris Johnson’s misadventures still make headlines, but Prime Minister Rishi Sunak’s bigger problem is high inflation and soaring bond yields reminiscent of those that toppled Liz Truss.
Erdogan’s Election Prospects Take a Hit as a Challenger Drops Out
With Turks going to the polls on Sunday, President Recep Tayyip Erdogan had hoped for a swift victory. But the departure of one challenger is likely to benefit his main competitor.
Bank of England Raises Interest Rates to 4.5%, Highest Level in 15 Years
The central bank lifted its benchmark rate a quarter point, to 4.5 percent, as part of its aggressive policy to tame inflation, but forecast that Britain was likely to avoid a recession.
Eurozone Inflation Rises as Policymakers Weigh a Rate Increase
The annual rate of inflation reached 7 percent, but the underlying “core” rate eased for the first time in 10 months.
No Major Disruption From Public Sector Strike, but Also No Solution in Sight
The walkout by federal public servants was spurred by inflation and the government’s return-to-office program.
In Pakistan, Economic Crisis Mutes Ramadan Celebrations
Rampant inflation, damaged crops and the war in Ukraine have sent food prices soaring during the Muslim holy month of daytime fasting and nighttime feasting.
Inflation Keeps Cooling
Prices aren’t climbing as quickly as they once were.