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The United Kingdom's latest economic indicators reveal an imminent recession, with official figures pointing to second-quarter stagnation followed by a subsequent contraction in the third quarter — piling pressure the Bank of England to consider interest rate cuts possibly by next spring.
Conventional tools have become ineffective, and we must look for more bold actions to revive our economy. Resting on our laurels and hoping for global economy to save us is madness, writes Yonela Diko.
India Business News: A 7%-plus growth target is all very fine. But let’s not get too colonised by this narrow index
US Treasury Secretary Janet Yellen warns of financial and economic chaos unless Congress acts to raise the debt ceiling. The impasse raises the risk of a default with severe consequences for the US and global economies.
Tuesday Statistics South Africa announced that the country’s economy had shrunk by 0.7% in the second quarter of this year.