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Canadian party
TD economist Brian DePratto looks at the growing economy, and the cost of throwing a Canada Day bash
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Brexit linked inflation deters Britons from spending
The effects of the Brexit vote seem to be starting to make British consumers more cautious. New figures show there was a cut back in spending at the beginning of the year as inflation picked up and prices rose. Shoppers have driven a...
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Paying more
Andrew Grantham of CIBC Capital Markets on rising gas prices and their effect on inflation
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Prices spike in Spain but government says it’s temporary
Spanish inflation hit 3 percent in February compared to the same month last year. That was up from January’s 2.9 percent and is well above the European Central Bank’s price stability target. A big part of the rise was due to higher...
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Eurozone economic growth revised down for end of 2016
Eurozone economic growth in the final three months of last year was not as good as initially thought. The statisticians at Eurostat previously estimated GDP expanded by 0.5 percent quarter-on-quarter, but on Tuesday they revised that...
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Eurozone economy accelerates, inflation up, unemployment falls
A raft of positive statistics for the eurozone has been released. We learned from the EU’s statistical office Eurostat that economic growth is accelerating faster than in the United States, unemployment is at a more than seven-year low...
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Eurozone factory activity ramps up
There was a strong start to the new year for factory activity in the eurozone. Surveys show it increased at the fastest rate in nearly six years. Manufacturers also said they are more optimistic than they have been in almost five years...
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UK central bank raises growth outlook
Britain’s central bank has again raised its forecast for economic growth there this year, but does not seem to be in a rush to raise interest rates from their record low as the UK economy adjusts to the prospect of leaving the European...
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ECB’s Draghi warns against US relaxing bank rules
The head of the European Central Bank Mario Draghi has called the idea of relaxing bank rules “very worrisome”. His comments came after US President Donald Trump ordered a review of rules that were brought in to prevent a repeat of the...
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Venezuela rolls out new banknotes in response to high inflation
Weeks behind schedule and amid fears it will do little to resolve Venezuela’s soaring inflation, the country’s government has released new banknotes, valued between 500 and 20,000 bolivars. Venezuelans have been queueing at ATMs and...
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Brexit linked weaker pound boosts UK inflation to 1.6%
Inflation in Britain rose strongly in December – linked to the Brexit vote. The large fall in the value of the pound against other currencies since last June’s referendum has pushed up the cost of imported raw materials. Consumer prices...
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Economic good news
Avery Shenfeld, chief economist, CIBC Capital Markets, on the two positive bits of news the economy received
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Eurozone inflation heads up
Inflation in the eurozone rose in December at the fastest pace since 2013, partly driven by a surge in the cost of oil. Consumer prices were up by 1.1 percent from a year earlier – nearly double November’s 0.6 percent gain. However core...
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Child-care costs rising
Average Canadian child-care costs are climbing at a rate that's three times faster than inflation
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UK inflation hits two year high in November
Inflation in Britain has risen again. In November consumer prices were 1.2 percent higher than November last year. That was the highest rate in more than two years and up from 0.9 percent in October. The increase came from more expensive...
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Eurozone inflation eases down in November, rises year-on-year
Lower energy prices reduced eurozone inflation in November. The EU’s statistics office Eurostat said consumer prices in the 19 countries using the euro fell 0.1 percent from October. Items that were more expensive included meals in...
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Eurozone inflation continues to rise
Inflation in the Eurozone crept up again in November by a tenth of one percent as food prices rose and core inflation grew. This should please the European Central Bank, which wants a higher overall level of inflation, at around 2% in...
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Eurozone retail sales post biggest growth in two years
Some good news for the eurozone: Retail sales grew in October at their strongest pace in two years, as consumers stocked up on non-food products such as clothing and electrical goods. Retail sales in the bloc rose 1.1 percent, breaking...
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Britain’s Brexit bonanza: slower growth, inflation and more borrowing
Phillip Hammond, British Chancellor of the Exchequer, the man in charge of the public purse has delivered his first autumn statement since taking over from George Osbourne and the premier treasury statement since the Brexit vote. The...
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Chill winds drive October UK retail sales growth by most since 2002
It was spend, spend, spend in Britain in October as retail sales surged by 1.9 percent from the previous month. Clothing flew off the racks as the weather turned colder and people were not scared to splash out on Halloween related items....
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Fed in focus
Jeffrey Frankel of Harvard University on Trump and the future of U.S. monetary policy
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Trump victory overshadows Japan’s growth
Japan’s economic growth was stronger than expected between July and September. A recovery in exports meant gross domestic product expanded again. The world’s third-largest economy grew by 2.2 percent in the third quarter compared to the...
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Challenge and hope: analysing Egypt’s loan from the IMF
Egypt has finally won International Monetary Fund approval for a three-year, $12 billion (11.16 billion euros) bailout programme aimed at reviving its struggling economy But can it succeed in bringing down public debt and controlling...
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UK inflation slips but Bank of England warns of price rises ahead
Inflation in Britain slipped slightly in October. It was at 0.9 percent, down from September’s 1.0 percent. But the Bank of England’s Governor Mark Carney said that won’t last. He warned higher prices are on the way in the UK. Wages are...