One of the advantages trumpeted by those hoping Britain votes to leave the European Union is the savings the country would make in not having to pay the billions of pounds in annual membership.
A slight tremor rumbled through a key pillar of British economic growth – household spending – as consumer confidence slipped this month to its lowest level since December 2014.
Central bankers in Latin America took their fight against high currency volatility to a new level last week, with interest rate hikes in Mexico and Colombia and a ramp up in interventions in foreign exchange markets.
San Francisco Fed President John Williams on Thursday said he still thinks gradual interest-rate hikes are the “best course” (http://reut.rs/1RaUTa9), a view that fails to harmonize with that of fellow Fed policymaker James Bullard, president of the St. Louis Fed who said late Wednesday further rate hikes would be “unwise” (http://reut.rs/1XAnEjh)
Wednesday’s British pay data showing wages rose only 1.9 percent in the fourth quarter could well be the straw that broke the camel’s back for anyone still expecting the Bank of England to raise interest rates anytime soon.
Financial markets and borrowers rooting for the Reserve Bank of India to ease policy this year could be in for a disappointment – in stark contrast to 2015 when it lopped 125 basis points off the repo rate.
Growth expectations for South Africa have tumbled in recent weeks as the government struggles with growing budget and trade gaps. Brazil walked a similar path a couple of years ago – but can South Africa draw any lessons from that spectacular fall?
A global slowdown in manufacturing that began late last year is getting more entrenched, particularly in Germany and Japan, economies that increasingly seem to share a lot in common apart from being the world’s two best-known exporters of high-tech cars and electronics.