The Latest Breaking News on Economy

Raising rates has no effect when the things that are rising in price the fastest, such as fuel and food, are essential purchases

Loretta Mester is one of the 12 people who determine the official interest rate in the United States, and she has a grim warning for American households already struggling to pay their bills.

Anti-corruption measures and progressive taxes among actions recommended by leading academics

European Central Bank intensifies its fight against inflation but euro falls under parity with the dollar

The ECB lifted its deposit rate to 0.75% from zero and raised the main refinancing rate to 1.25%, which is their highest level since 2011

Fewer Americans filed for unemployment benefits last week as the labor market remains continues to remain strong despite decades high inflation

Reserve Bank governor Philip Lowe has foreshadowed slower mortgage bill hikes later this year as the bank grapples with massive uncertainties about the outlook for soaring inflation and the economy.

The weakening of the yen continues unabated. As part of efforts to buoy the economy, the Bank of Japan appears set to continue its massive monetary-easing policy, in stark contrast to the approach adopted by the United States.

In the past, the government and the Bank of Japan have directly intervened in foreign exchange markets by selling or buying yen when there have been excessive movements in the yen's value.

Europe is going to see higher interest rates

More rate hikes are in store and the case for a slower pace of tightening grows stronger, the Reserve Bank of Australia's governor says.