The Bank of England lowered its forecast for the growth of the UK economy in 2018 from 1.4% to 1.3%. For the next year, the forecast was lowered from 1.8% to 1.7%, while the estimate of GDP growth for 2020 remained the same – at the level of 1.7%. The British regulator expects an earlier overheating of the economy – already in 2019, noting that in the near future, inflation will remain at a value that exceeds the target 2% per annum. This may require an earlier interest rate increase. At the end of its meeting on November 1, the regulator retained the base interest rate unchanged. It is planned to increase the rate in the fourth quarter of 2019 to 1%, in the fourth quarter of 2020 – to 1.2%. The inflation forecast for 2018 has been changed upwards – from 2.3% to 2.5%. In the next two years, the inflation rate is expected to be 2.1%.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
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 ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...