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Malaysia's central bank will hold its key interest rate at 3% on Thursday and through 2024, despite a weakening ringgit, amidst stable domestic inflation and a steady growth outlook, according to...
The Bank of England is likely done with policy tightening and will leave Bank Rate at 5.25% on Nov. 2, according to the vast majority of economists polled by Reuters who did however caution the...
The Bank of England is likely done with policy tightening and will leave Bank Rate at 5.25% on Nov. 2, according to the vast majority of economists polled by Reuters who did however caution the chance of another increase this year was high. Although inflation unexpectedly held steady at 6.7% in September, the highest of any major advanced economy, 61 of 73 economists in the Oct. 18-23 poll said there would be no move from the Bank next week, in line with market expectations. Only 12 economists forecast a quarter point rise to 5.50% at the November Monetary Policy Committee meeting.
The Eurozone is facing a broad-based economic downturn as business activity unexpectedly worsened this month, according to a survey. The flash euro zone Composite Purchasing Managers' Index (PMI) fell to its lowest level since November 2020, indicating a possible slide into recession. The survey also revealed a decline in demand and a reduction in overall headcount. The services industry, which is the dominant sector, experienced a significant drop in demand. The manufacturing sector also contracted, with output and employment levels decreasing.
U.S. business activity ticked higher in October while output in the euro zone took a surprise turn for the worse, surveys showed on Tuesday, underscoring the diverging path for central bankers in the two regions and fanning fears the bloc may slip into recession. In the United States, the manufacturing sector pulled out of a five-month contraction on a pickup in new orders, and services activity accelerated modestly amid signs of easing inflationary pressures. S&P Global said its flash U.S. Composite Purchasing Managers Index tracking both the manufacturing and service sectors rose to 5...