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The decision by NATO members on Wednesday to spend five percent of their GDP on defence could shift budget priorities.

The bloc agrees to boost spending to 5% of GDP, but Spain, Belgium and Slovakia say they will struggle to meet target.

The summit ended with a commitment to spend 5% of GDP on defence - more than double the current target of 2%.

NATO leaders meeting in The Hague on Wednesday agreed to raise defence spending to 5 percent of GDP and reaffirmed their mutual defence pledge – steps Donald Trump hailed as a “monumental win” for the US, which he says has carried an unfair share of the burden. But while all…

Secretary General Mark Rutte credits Trump with pushing for ‘concrete plan’ to have member nations spend at least five percent of GDP on defense

The new NATO spending target has a 1.5% for non-military expenses. Its interpretation however is vague and could spark "opportunistic" divisions.

The spending target the military alliance just agreed on is unlikely to be met by all countries, but experts say some members are moving to bolster their defenses in case of a future Russia conflict.

Kansas City Federal Reserve President Jeff Schmid said on Tuesday that the central bank has sufficient time to analyze rising import tariff impacts on inflation and economic growth before implementing further interest rate cuts.What Happened: “The current posture of monetary policy, which has been characterized as ‘wait-and-see,’ is appropriate,” Schmid…

He said the current commitment to get defence spending up to 2.5% of GDP was coming from cuts to overseas development aid.

Nato plan to increase military spending overlooks risks to security posed by environmental breakdown and social decay, say economists

President Donald Trump lashed out at Israel and Iran before he jetted off for a NATO summit in the Netherlands amid global tensions.