The GDPNow tracker shows that economic growth in the spring was flat at 0%, a steep decline from its previous estimate of 1.3% on June 1 and 0.9% on June 8. President Joe Biden said a recession is “not inevitable” and he is confident the United States can overcome inflation. …

Yield curve inverts in the US, signaling at least economic slowdown and hinting at the possibility of recession or a big decline in economic growth globally and in the domestic economy at most.The yield on three-year US treasury has shot up to 3.45 per cent since Wednesday, from 0.96 per …

The Bank of England hiked 25 bps and initially tumbled the pound, though later rallied due to a weaker US dollar. The BoE decided not to give any forward guidance regarding the pace and time of monetary policy adjustments.Negative US housing data fueled speculations that the US might be heading …

After the prices of bitcoin, ethereum, and other cryptocurrencies saw big drops this week, several experts say it could get even worse amid a broader investor sell-off of risky assets. The price of bitcoin fell more than 30% over the last week to just under $21,000, and Ethereum followed a …

The Bank of Japan will announce its monetary policy decision on Friday, June 17 at 03:00 GMT and as we get closer to the release time, here are the expectations forecast by the economists and researchers of six major banks.The BoJ could most likely remain the same dovish stance by …

“There is no need for Russia to cut its oil output,” Russian Deputy Prime Minister Alexander Novak told RBC media on Thursday.“OPEC+ role is on the rise due to uncertainties with demand and supply in China, Iran, Libya and Venezuela,” Novak added. “We don’t have plans to switch to an …

“The European Central Bank’s (ECB) decision to hike the interest rate is inevitable”, Italian Prime Minister Mario Draghi said on Thursday.“ECB interest rise is bound to be more gradual than in the US,” Draghi added and said that it was totally counterproductive for politicians to comment on the ECB’s policy.As …

The Bank of England announced on Thursday a new increase in the interest rate. It raised the key rate by 25 basis points to 1.25%, with three members voting for a 50 bps hike. Analysts from Rabobank expect one more 25 bps hike in August, before the Monetary Policy Committee …

Gold rises to the highest level in four days, eyes $1850 and silver erases losses, approaching Wednesday’s high near $21.90.US yields slide as demand for Treasuries picks up amid risk aversion. Gold gained momentum boosted by a context of risk aversion and a weaker US dollar. XAU/USD rose from under …

Central banks are inside the storm amid global tenacious high inflation. The US Fed was the star of Wednesday’s interest rate show. Fed decided to hike rates by 75 bps, the largest since 1994, but dismissed the chances of a 100 bps hike. Fed Chair Powell said it was the …