Bank of England warns of more rate hikes as pound bottoms – National

Bank of England Governor Andrew Bailey said on Monday the BoE “will not hesitate” to raise interest rates if necessary to meet its two percent inflation target, and that it was monitoring financial markets “very closely”. following sharp movements in asset prices. Sterling fell to a record low against the US dollar in Asian trading … Read more

Why CEOs From Coca-Cola To Hershey Are Talking About ‘Price Elasticity’

Consumer spending has held up relatively well so far despite inflation, but experts say we are approaching an inflection point. WSJ’s Sharon Terlep explains the role “elasticity” plays in a company’s decision whether or not to raise prices. Photo illustration: Adele Morgan

Costco Keeps Buzz Alive, Beats Inflation

Costco Wholesale Corporation continues to see challenges related to higher commodity prices, wages, transportation costs and supply chain disruptions. But there is a “little light at the end of the tunnel,” said Executive VP/CFO Richard A Galanti. Galanti made these comments in a conference call on Thursday afternoon, following the release of the company’s fourth … Read more

Dow plunges low to 2022 on fear of recession in global markets

BEIJING — Shares fell sharply worldwide on Friday on concerns that an already slowing global economy could slide into recession as central banks ramp up pressure with additional rate hikes. The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020. The S&P500 fell 1.7%, close to the mid-June 2022 low, … Read more

US stocks plunged, Dow dips below 30,000 as inflation, recession fears mount

US stocks plunged Friday, capping four days of declines and lingering inflation and recession concerns. The Dow Jones Industrial Average fell more than 800 points before recovering at the close of trading, but remained below 30,000 for the first time since June. The Dow Jones Industrial Average fell 483.83 points, or 1.61%, to 29,592.85. The … Read more

Stocks plunge, dragging Wall Street into another down week

Fed rate hike raises recession fears Fed rate hike decision raises Wall Street fears of recession 06:04 Wall Street Heads For Another Day of Losses Friday as the Federal Reserve’s Last interest rate hike renewed fears of a recession. The S&P 500 fell 62 points to 3,696, or 1.7%, at 10:20 a.m. EST on Friday. … Read more

UK Chancellor unveils mini-budget to tackle runaway inflation

https://sputniknews.com/20220923/british-chancellor-unveils-mini-budget-to-tackle-runaway-inflation-110117219.html UK Chancellor unveils mini-budget to tackle runaway inflation UK Chancellor unveils mini-budget to tackle runaway inflation New Chancellor Kwasi Kwarteng confirmed many of the rumors circulating around his fall statement on Friday. But his estimate of the cost to the taxpayer of the… 23.09.2022, Sputnik International 2022-09-23T10:37+0000 2022-09-23T10:37+0000 2022-09-23T10:37+0000 almost quarter narrow economy Europe … Read more

Turkey cuts interest rates again despite 80% inflation

The number of Russian tourists to Europe dropped dramatically during the summer, but rose in several other destinations, including Turkey (here). Onur Dogman | Sopa images | Light rocket | Getty Images Turkey’s central bank surprised markets again with its decision Thursday to cut its key interest rate, despite inflation in the country soaring above … Read more

Fed approves third straight rate hike of 0.75 percentage point

The Federal Reserve approved a third consecutive increase of 0.75 percentage point on Wednesday. Chairman Jerome Powell said he expects rate hikes to continue as the Fed battles high inflation. Photo: Kevin Lamarque/Reuters