Category: Economic
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Bank of England cuts rates to 4.75% as inflation cools and economic pressures ease
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The Bank of England cut interest rates by 25 basis points to 4.75%, its second cut this year as inflationary pressures begin to ease and economic data point to a slowdown in wage growth. The nine-member Monetary Policy Committee voted in favor of the cut, following a steady trend in…
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Fraser Institute News Release: 7-in-10 provinces had combined government debt burdens that exceeded the size of their entire economies in 2022, curbing economic growth
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Article content VANCOUVER, British Columbia, Nov. 07, 2024 (GLOBE NEWSWIRE) — Combined federal and provincial government debt in seven provinces exceeds the value of all goods and services produced in those provinces through 2022, dampening economic growth and living standards, according to a report. A new study published by the…
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Fraser Institute News Release: 7-in-10 provinces had combined government debt burdens that exceeded the size of their entire economies in 2022, curbing economic growth
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Article content VANCOUVER, British Columbia, Nov. 07, 2024 (GLOBE NEWSWIRE) — Combined federal and provincial government debt in seven provinces exceeds the value of all goods and services produced in those provinces through 2022, dampening economic growth and living standards, according to a report. A new study published by the…
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Asian shares are mostly higher as China begins major economic meeting
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Stocks rose mostly in Asia on Monday as Chinese leaders began a major meeting expected to make new pledges to help the world’s second-largest economy. Oil prices rose more than a dollar a barrel after Oil producing countries in OPEC+ They said they would extend production cuts until the end…
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Record £40bn tax hike set to slow UK economic growth, warns OBR
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Chancellor Rachel Reeves introduced a record £40bn tax rise in her first Budget, which the Office for Budget Responsibility (OBR) warns could stifle economic growth in the long term. According to the Office for Budget Responsibility, the UK economy will expand by just over 1% this year, peaking at 2%…
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UK retail sales rise unexpectedly in September despite economic uncertainties
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UK retail sales rose unexpectedly in September, defying analysts’ expectations of a contraction, as consumers increased their spending on technology despite looming tax rises and economic uncertainties. According to the Office for National Statistics (ONS), retail transactions rose 0.3% in September, building on a strong 1% increase in August. Analysts…
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VP Harris Vows To Support Crypto In New Economic Proposal
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US Vice President Kamala Harris has pledged to support regulation of cryptocurrencies and digital assets in her new economic proposal, several new media outlets reported on Monday. This offer comes after the pro-cryptocurrency Republican candidate, Donald Trump, led in the opinion polls against the Democratic candidate. Harris pledges to legalize…
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Hong Kong policy address seen pivoting from security to economic growth By Reuters
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Written by James Pomfret HONG KONG (Reuters) – Hong Kong is expected to announce measures to boost the city’s economy in its annual policy speech on Wednesday, including cutting tariffs on alcohol, as it seeks to revive the financial hub that has struggled to recover since the pandemic. Hong Kong’s…
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OPEC report, Fed’s Waller speech highlight Monday’s economic calendar By Investing.com
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As traders approach another pivotal day for the financial markets on Monday, October 14, 2024, attention will be focused on key reports and speeches that could influence market dynamics. OPEC’s monthly report and Federal Reserve Governor Christopher Waller’s speech are expected to provide valuable insights into the global oil market…
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BoI Governor: We must conduct responsible economic policy
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The Governor of the Bank of Israel, Professor Amir Yaron, opened his remarks at the press conference that followed the decision of the Monetary Committee, which he chairs, to leave the interest rate unchanged at 4.5% by saying, “The State of Israel is in a constant war, and recently the…
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How Bitcoin Is Propelling A Small Texas Town Into A New Economic Era: The Rockdale Story
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Recently Opinion articleWard Rodham, the mayor of a town called Rockdale, Texas, has highlighted the profound impact that Bitcoin (BTC) mining has had on his small town, claiming that it heralds a new economic renaissance – the “digital energy boom.” Billion dollar impact on Rockdale’s economy Once known for housing…
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White House economic advisor Brainerd expects impact on employment from hurricane Helene
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates more risk and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or…
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Consumer credit and Fed speeches highlight Monday’s economic calendar By Investing.com
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As traders approach another pivotal day for the financial markets, a series of critical decisions and economic data releases that could impact market dynamics are expected on Monday, October 7, 2024. The economic calendar for the day includes important speeches from Federal Reserve officials and consumer data releases. Credit data,…
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Labour’s economic pessimism halts UK equity market recovery, triggering significant outflows
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UK stock markets have taken a hit as the Labor government’s pessimistic portrayal of the country’s economic outlook reverses a brief rebound in investor interest. New figures from Calastone, a global fund network, show that UK-focused funds suffered net withdrawals of £666m in September, while other geographically focused fund sectors…
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USD holds steady amid geopolitical tensions and economic data anticipation By Investing.com
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The US dollar remained stable as markets processed rising geopolitical risks in the Middle East and awaited more US economic data. This stability comes despite the general move towards safe haven assets in foreign exchange markets, which has not led to a significant reduction in risks, HSBC noted in a…
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This week’s economic data could be ‘hugely bullish’ for stocks
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Friday’s monthly jobs report, along with a slew of other economic data scheduled for release this week, will likely push the stock market higher if it surprises to the upside. That’s because any evidence that the Fed is cutting interest rates amid an ideal backdrop of continued economic growth, a…
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Revised 2023 UK economic growth figures show significant improvement, but challenges remain
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The UK economy expanded at a much faster rate than originally expected in 2023, according to revised data from the Office for National Statistics (ONS). Updated figures show the economy grew by 0.3% last year, three times the previously reported growth of 0.1%. This upward adjustment comes after collecting more…
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Economic calendar in Asia 30 September 2024 – China PMIs for September
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Note that New Zealand switches to daylight saving time over the weekend as summer approaches. Speaking of New Zealand, the ANZ New Zealand Business Survey for September 2024 is due out today. August data improved compared to July but remained poor: But the focus will be on data from China.…
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Fed’s Bowman: Data points continue to show economic strength
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates more risk and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or…
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Wall St closes higher on strong US economic data By Reuters
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Written by Echo Wang (Reuters) – Wall Street’s major indexes closed higher on Thursday, hitting a record high, as a rise in Micron Technology (NASDAQ:) shares and a strong U.S. jobless claims report eased concerns about the labor market. Shares of Micron Technology rose after the memory chip maker forecast…