The Reserve Bank should consider a double-hike next week, lifting the official cash rate by 50 basis points to get ahead of inflation pressures in the economy, says ASB senior economist Mike Jones. Most economists now expect the Reserve Bank will raise the rate by 25 basis points next Wednesday (August 18), following data in […]
By Thyagaraju Adinarayan LONDON (Reuters) – A meltdown in Europe’s banking shares? A quarter of their value has been wiped off in less than a month as rising coronavirus cases in Europe and the United States have darkened the outlook for the global economy, pushing central banks to cut interest rates further. The U.S. Federal […]
WASHINGTON – In the harshest downturn for American workers in US history, employers cut an unprecedented 20.5 million jobs in April and the unemployment rate more than tripled to 14.7 per cent. Back in February, before the coronavirus pandemic brought the U.S. economy to a standstill, the rate hovered at just 3.5 per cent. That […]
