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Swiss bank UBS revised its forecast for economic growth in the UK in 2019 amid fears about the country's withdrawal from the EU. The forecast for the first quarter of the year was changed from 0.3% to 0.2% of GDP growth, for the second quarter - from 0.6% to 0.4%, for the third quarter - from 0.6% to 0.5%. Revision of quarterly indicators led to a decrease in the annual growth forecast from 1.8% to 1.5%. Brexit's uncertainty hampers the development of the UK private sector. The country must withdraw from the EU on March 29, 2019. However, if there is no agreement on Brexit, and the European Union does not make concessions, Britain’s withdrawal from the EU may be delayed.
Bank of England will not raise rates in the near future. Interest rate increase by 25 basis points is expected in November 2019 and May 2020.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
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