The Latest Breaking News on Economy

UK economy expanded by 0.2% in July, less than hoped, with growth driven by customer-facing services such as the sports and recreation sector

WASHINGTON — Treasury Secretary Janet Yellen said she remains hopeful the U.S. economy can avoid recession, but added that Americans understand the need for the Federal Reserve to conquer inflation.

GDP, inflation and retail sales figures due to be released over next few days

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.