Don’t let the socialists win the argument – capitalists have solutions to inequality too September 13, 2019 Inequality is a hot topic, yet those of us who support free markets are often dismissive of the issue. We (rightly) point out that the most important thing is economic growth – the key driving force behind increasing prosperity for everyone. However, free-marketeers are wrong to see concerns over inequality as the preserve of those [...]
Donald Trump lashes out at ECB over euro’s fall September 12, 2019 US President Donald Trump has reacted furiously to the euro’s fall against the dollar following the European Central Bank’s (ECB) decision to cut interest rates for the first time in over three years. Read more: Donald Trump demands ‘boneheads’ at Fed slash rates to zero The euro fell as much as 0.7 per cent following [...]
ECB turns stimulus taps back on with first rate cut in three years September 12, 2019 The European Central Bank (ECB) has unveiled a major stimulus package as it seeks to revive an ailing Eurozone economy, cutting interest rates for the first time in three years and restarting its giant bond-buying programme. Read more: German to tumble into recession, says Ifo think tank However, in his penultimate rate-setting meeting as ECB [...]
Eurozone industrial production drops again in July September 12, 2019 Industrial output in the Eurozone undershot expectations and fell again in July, official figures showed today, in the latest evidence of a significant slowdown in the single currency area’s economy. Read more: ECB’s Mario Draghi set to inject stimulus into Eurozone economy Industrial production dropped by 0.4 per cent month on month in July, its [...]
Germany to tumble into recession, says Ifo think tank September 12, 2019 A respected German think tank has predicted that Germany will fall into a recession in the third quarter and has slashed its 2020 growth forecast for Europe’s biggest economy. Read more: ECB’s Mario Draghi set to inject stimulus into Eurozone economy – but will it work? The Ifo Institute today predicted the German economy will [...]
European stocks rise after Donald Trump delays China tariffs September 12, 2019 European stock markets have risen soon after the opening bell following US President Donald Trump’s decision to delay tariff increases on Chinese goods by two weeks. Read more: China exempts some US goods from further tariffs ahead of talks Trump tweeted: “At the request of the Vice Premier of China, Liu He, and due to [...]
John McDonnell poised to back widening of UK financial transactions tax September 11, 2019 Shadow chancellor John McDonnell is set to extend Labour’s plans for a new tax on UK financial transactions in a move that could bring in an extra £2.1bn to the government’s coffers. Under Labour’s existing plans, the 0.5 per cent duty on share trading would be extended to other asset classes. Labour say this would [...]
ECB’s Mario Draghi set to inject stimulus into Eurozone economy – but will it work? September 11, 2019 Mario Draghi tomorrow chairs his penultimate interest rate-setting meeting as president of the European Central Bank (ECB). The question is, will he bring a bazooka to his final battle? Read more: US and European stocks bouyed by ECB rate cut expectations The consensus expectation is that Draghi and co will cut the ECB’s main interest [...]
Donald Trump demands ‘boneheads’ at Fed slash rates to zero September 11, 2019 US President Donald Trump has called US Federal Reserve policymakers “boneheads” and demanded that they drop interest rates to zero “or less”. Read more: Fed will ‘act as appropriate’ to keep US expanding, says chair Jay Powell Trump said close-to-zero interest rates would let the US refinance its debt, meaning replace its existing debt with [...]
China exempts some US goods from further tariffs ahead of talks September 11, 2019 China has exempted 16 US products from additional tariffs, its finance ministry said this morning, in a sign of good will ahead of high-level talks this month and next. Read more: Return of US-China trade talks pushes up Asian markets Products such as animal feed, fish meal, some anti-cancer drugs and lubricants will be exempt [...]