Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
UK August Borrowing Blows Past Forecast by £3.5B
Britain borrowed £18.3bn in August, £3.5bn more than the OBR expected, lifting the fiscal year-to-date deficit £8.1bn above plan and raising the stakes for the October 28 Budget.
UK Food Price Surge Forecast as El Niño Threatens Supply Chains
The FDF predicts UK food inflation will climb to 6.4% by July 2027, driven by El Niño and other cost pressures, testing major grocers.
Australia's 40-Year Outlook: Slower Growth, Higher Spending Weigh on ASX
Australia's latest Intergenerational Report forecasts slower population and GDP growth over 40 years, while government spending rises. The ASX 200 barely moved, but rate hike odds remain high.
Pension Boost Offset by Higher Deeming Rates in Australia
Australia's Age Pension increases by A$36.80 for singles and A$55.60 for couples, but higher deeming rates could offset some gains.
Canada's Q1 Deficit Narrows Sharply as Revenue Surges 9.8%
Canada's federal deficit narrowed to C$370M in Q1 as revenue surged 9.8%, but debt charges climbed 6.1%, keeping bond markets cautious.
Mortgage Rates Climb to 6.95%, Adding $51 to Monthly Payments
The average 30-year fixed mortgage rate rose to 6.95%, up 19 basis points from last week, marking the highest level since January 2025 and adding $51 to monthly payments on a $400,000 loan.
UK August Retail Sales Beat Forecasts as Online Purchases Rebound
UK retail sales unexpectedly rose 0.5% in August, driven by a rebound in online spending, though fuel volumes fell. The data may influence Bank of England rate decisions.
Montenegro Claims €100M Fiscal Boost from Anti-Smuggling, Gambling Crackdown
Montenegro's deputy PM claims €100M fiscal gain from tobacco and gambling enforcement. Investors seek clarity as budget data shows improvement.
Gasoline Surges 17 Cents as Fed's Inflation Fight Faces New Test
U.S. gasoline prices hit $4.47, up 17 cents in a week, complicating the Fed's inflation fight after its rate hike. Investors eye CPI data and the Fed's October meeting.
UK Minimum Wage Set at £12.71 for 2026; £13.18 Is a 2027 Projection
The UK’s adult minimum wage is £12.71 an hour in 2026. A £13.18 figure often cited is a 2027 projection, not law. Investors should assess payroll impact.
Alberta Independence Cost Estimate: Up to C$170B in First Five Years
Alberta's commissioned report estimates first five years of independence cost C$50B-C$170B, with debt soaring to 88.5% of GDP. October 19 referendum looms.
Ontario Minimum Wage Hits C$17.95: Cost Cap for Investors
Ontario's minimum wage increases to C$17.95 on October 1, affecting 700,000 workers. The C$510 million direct cost estimate is a ceiling, not a forecast. Retail and restaurant stocks face exposure.