The consensus on when the Bank of England finally pulls the trigger and hikes interest rates from a record low 0.5 percent firmly settled on the second quarter of next year in the latest Reuters poll.
The British labour market has been a mixed bag of late.
On the plus side, there’s been plenty of good news about people getting jobs. But wage growth has slowed, against the expectation of some economists who thought tightness in the labour market would be pushing up wages more strongly by now.
Millions of Latin Americans risk losing their jobs as a consequence of the region’s economic downturn. Job losses are already piling up in Brazil, mired in its worst recession in generations, and look increasingly likely in other countries, according to a research report by UBS.
A surprisingly strong surge in British manufacturing growth last month has left a few economists scratching their heads. Is it a one-off? Could a manufacturing recovery really appear out of seemingly nowhere?
Turkey’s Tayyip Erdogan has won his gamble that snap elections would shore up his position as voters backed his AK Party as the best bet for stability. Markets have responded by pushing the lira and the stock market higher, but for Turkey’s Western neighbours his victory is a double-edged sword: they would naturally welcome Erdogan now using his enhanced position to do more on the Syrian conflict and migrant conflict, but it would only add to tensions with Europe if he were to point to the result as justification for an increasingly authoritarian path. His party is just shy of the super-majority needed to put a new constitution granting him extra powers to a referendum, but his PM has already called on other parties to back such a move.
After sailing relatively smoothly through the choppy waters of the financial crisis and its after-effects, the Canadian economy is finally getting caught up in the global economic slowdown.