‘We know this is hard,’ the central bank’s governor said, after increasing interest rates by a half point, to 5 percent.
Category: Economic Conditions and Trends
China’s Central Bank Cuts Loan Prime Rates
The reduction in the rates, which are used to set corporate loans and home mortgages, signal concern that the country’s post-pandemic rebound is stalling.
China’s Economic Rebound Hits a Wall, With ‘No Quick Fix’ to Revive It
Policymakers and investors expected China’s economy to rev up again after Beijing abruptly dropped Covid precautions, but recent data shows alarming signs of a slowdown.
New Zealand House Prices Have Crashed, Wiping Out Billions in Wealth
In New Zealand, high interest rates have sent property prices sliding nearly 18 percent since November 2021.
Why What We Thought About the Global Economy Is No Longer True
While the world’s eyes were on the pandemic, the war in Ukraine and China, the paths to prosperity and shared interests have grown murkier.
As U.S. and Chinese Officials Meet, Businesses Temper Their Hopes
Chief executives in the U.S. have long pushed for closer ties between the two countries. Now they just hope a rocky situation won’t get worse.
Britain’s Economic Health Is Withering With Sick Workers on the Sidelines
Many people who want to work can’t because of long-term health problems, a persistent issue that is causing Britain’s economy to go “into reverse.”
Google Employees Brace for a Cost-Cutting Drive as Anxiety Mounts
The tech giant has so far taken steps to streamline without mass layoffs, but employees are girding for deeper cuts.
How Will China Turn Its Economy Back On? The World Is About to Find Out.
Strict “zero Covid” curbs have been smothering growth. After easing them, Beijing faces the twin challenges of rising caseloads and wary consumers.