U.K. Economy Unexpectedly Grew in July
Economic growth jumped again following a strong start to the year, with activity continuing to perform strongly despite higher energy
Economics
Long lines at gas stations. Strikes by truckers. A government struggling to maintain subsidies. The economic fallout from the war is adding to the pain facing ordinary Iranians.
Cuts to subsidies and quotas are fueling anger and spurring walkouts by truck and taxi drivers. Source link
A monthslong selloff in government bonds is skidding into dangerous ground, pushing borrowing costs toward levels that some fear will finally damage the stock market and the economy
Rising borrowing costs threaten to disrupt the stock market and slow the economy. Source link
U.S. Mortgage Rates Top 7% For First Time in 15 Months
Rates had steadily tumbled to about 6% in late February, but reversed when the U.S. and Israel started the war
The ECB raised interest rates for the second time this year, as resurgent energy prices reignited concerns over inflation
Resurgent oil and gas prices have reignited concerns over price pressures. Source link
Home sales in August fell to their lowest level in more than a year, after rising mortgage rates dealt another blow to a hobbled housing market
The 2% monthly decline in existing-home sales reflected higher mortgage rates and a housing market stuck in a rut. Source
Producer-Price Inflation Accelerated Last Month
The producer-price index rose 0.4% in August, versus a 0.1% increase in July. The reading was in line with economists’
Turkish Central Bank Keeps Rates Unchanged Amid Continued Inflation Risks
The bank held its benchmark one-week repo rate at 37.0%, it said Thursday. The bank last cut its key rate
Bank of Japan Tightening Bets, U.S. Pressure Spark Yen Recovery
Just over a month after joint currency interventions failed to pull the yen significantly off multi-decade lows, shifting policy expectations
The Fed’s next rate decision could hinge on Friday’s inflation report—and whether August prices show inflation is finally cooling
Fed officials, increasingly divided over where rates should go, will be watching Friday’s consumer inflation report closely. Source link