Economy

ECB stays committed to multiple rate cuts despite Fed’s caution, global uncertainty

Officials highlighted that the ECB's decisions hinge on incoming data, especially regarding wages, profits, and productivity

UNCTAD forecasts 2.6 percent global economic growth in 2024, warns of urgent issues beyond inflation

This marks the third straight year of growth below the pre-pandemic average of 3.2 percent from 2015-2019

Africa’s $824 billion debt burden, loans undermine its economic potential: ADB president

Eurobond debt now accounts for 44 percent of Africa's total debt

World Bank secures $11 billion backing for new financial instruments to boost lending capacity

WBG's leveraging capability enables 6-8x multiplication of hybrid capital and guarantee platform funds over 10 years

Egypt to ensure foreign currency availability through maintaining flexible exchange rate

This represents a key condition for Egypt's $8 billion loan program signed with the IMF

Steady labor market in the U.S. strengthens overall economy, unemployment claims remain low

Labor market changes could primarily stem from reduced hiring rather than sudden rise in terminations

IMF’s Georgieva urges China to address economic slowdown, enhance productivity

The Managing Director highlighted concerns over the country's property crisis, called for domestic growth strategies

China’s fiscal stimulus shifts focus amid effectiveness concerns: S&P report

Fiscal stimulus in China aims to buy time for the implementation of longer-term policies

Japan’s March core inflation slows to 2.6 percent despite yen weakness

Despite wage hikes, inflation-adjusted real wages continued to decline for nearly two years

Egypt’s GDP expected to reach 4 percent in FY 2024/2025: Ministry of Finance report

The report predicts an 18.1 percent average annual headline inflation rate

ECB signals potential June interest rate cut despite rising oil prices, weaker euro

ECB ready to adapt monetary policy stance if current trends persist

U.S. economic activity expands slightly in April, inflation expectations remain firm: Survey

Inflation's reversed momentum sparks concern over interest rate cut timing

Bank of Japan signals gradual approach to interest rate hikes amidst domestic economic challenges

Board member Noguchi foresees slower policy adjustments compared to global counterparts

South Africa’s inflation dips to 5.3 percent in March, Reserve Bank to maintain 8.25 percent rates

On a month-on-month basis, consumer inflation was 0.8 percent in March, down from 1.0 percent in February

Türkiye announces economic strategy to boost public savings, investments, and reforms

President Erdogan projected that economic growth will reach around 4 percent this year

Riyadh to ‘move ahead significantly’ on $5 billion Pakistan investment plan

Investments to encompass agriculture, mining, information technology, and aviation

U.K. inflation slows to 3.2 percent, sparking rate cut speculations

Investors lower expectations for the scale and timing of future rate cuts

Japan’s business confidence drops as yen weakens to 34-year low

Manufacturing, services sectors dampen amidst growing economic challenges

Egypt’s finance minister prioritizes inflation reduction, job creation in economic reform agenda

Egypt further plans to sell more state assets, which would reduce the state's role in the economy.

Nigeria to cut down tax expenditure, ensure incentives for economic growth

IMEP to prevent the misuse of tax expenditures, facilitate access to data

IMF raises global growth forecast to 3.2 percent, lifts outlook for UAE, Saudi Arabia

The 2024 figure represents a 0.1 percentage point increase from the previous World Economic Outlook report in January

U.S. retail sales rise 0.7 percent in March on increased gas sales

Unemployment rate falls to a low of 3.8 percent supporting spending surge

China’s economy grows 5.3 percent in first quarter of 2024

High-tech manufacturing propels growth despite property market concers

U.K. unemployment rate hits 6-month high of 4.2 percent, exceeding expectations

The unemployment rate in the country stood at 3.9 percent in the three months to January