Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
IMF Urges Fiscal Restraint as RBA Rate Hike Bets Surge to 87%
The IMF urges Australia to curb spending as traders see 87% odds of an RBA rate hike on Sept 29. A move to 4.60% would lift mortgage payments and pressure consumer spending.
Pension Revaluation Eases Teacher Pay Funding Gap in England
England's 3.5% teacher pay award remains unchanged, but a pension revaluation cuts employer costs, helping schools cover the funding gap and easing strike risk.
Canadian Wealth Hits C$19T, But Gains Favor the Rich
Canada's household wealth climbed to C$19.1 trillion in Q2, but the richest 20% own 69% of financial assets, highlighting uneven gains.
State Pension to Hit £13k, But Tax Relief Promise Falls Short
The UK State Pension is set to exceed £13,000 next April, but the government's tax relief pledge is narrower than expected, leaving many pensioners exposed.
TUC Chief Joins Bank of England Board, Not Rate-Setting Panel
Paul Nowak joins the Bank of England's Court, but not the MPC, so he won't vote on rates. His appointment doesn't affect the upcoming September decision.
Fed Signals Rates to Stay Near 4.1% Through 2027
The Fed's latest projections show rates holding near 4.1% through 2027, a more restrictive path than previously expected, pressuring bonds and rate-sensitive stocks.
Federal Grant Freezes Top $177B, Savings Claims Unverified
A new tracker reports $177B in disrupted federal grants, but savings remain unverified. GAO review found only 3.8% of DOGE savings substantiated, raising investor concerns.
GAO Puts $6.7B Price Tag on Deferred Resignation Leave
The GAO estimates $6.7B in paid leave costs for the deferred resignation program, but cannot confirm net savings. OPM projects $20B annual savings.
ING Lifts Fixed Mortgage Rates by 20bps Ahead of RBA Decision
ING raises fixed mortgage rates by 20bps as RBA decision looms. Citi sees peak at 4.85%. Borrowers face higher costs.
Japan's August Trade Gap Quadruples as Oil Costs Outpace Chip Boom
Japan's August trade deficit quadrupled to ¥1.106 trillion as energy import costs soared, while chip exports surged 52.3%. The BOJ meets next week.
Australian Retirement Costs Hit Record A$78,998 as Energy Bills Surge
Australia's comfortable retirement budget has climbed to A$78,998 for couples and A$56,166 for singles, driven by a 22.4% jump in electricity prices.