Economy News

Economy

Bank of Canada Holds Steady: Interest Rates Unchanged Amid Global Trade Tensions

The Bank of Canada has decided to keep its interest rate unchanged at 2.75%, citing global trade tensions and unpredictable US tariff policies as key factors influencing this decis...

Economy

WTO Forecasts a Sharp Decline in Global Goods Trade by 0.2% in 2025 Amid Rising Uncertainties

The WTO forecasts a 0.2% contraction in global merchandise trade for 2025, with North America's exports expected to drop by 12.6%. A further decline is possible if trade tensions e...

Economy

March Sees a 0.3% Dip in US Industrial Production Amid Utility Sector Slump

US industrial production fell by 0.3% in March, with a significant utility sector drop due to warm weather. Manufacturing and mining grew slightly, while business equipment rose an...

Economy

US Crude Oil Inventories See Unexpected Rise Amid Refinery Slowdown

The US saw an unexpected rise in commercial crude oil inventories by 500,000 barrels to 442.9 million barrels, alongside a slowdown in refinery operations and a decrease in crude o...

Economy

Fitch Predicts Significant ECB and Emerging Markets Rate Cuts Amid Global Economic Downturn

Fitch Ratings forecasts deeper interest rate cuts by the ECB and emerging markets' central banks due to worsening global economic conditions and an escalating trade war, with world...

Economy

Fitch Downgrades 2025 Oil Price Forecasts Amid Global Economic Slowdown and OPEC+ Production Hikes

Fitch Ratings has lowered its 2025 oil price forecasts due to weaker global growth and planned OPEC+ production increases, with Brent expected to average $65 and WTI $60. Concerns ...

Economy

Fitch Predicts More Aggressive Rate Cuts by ECB and Emerging Markets Amid Global Economic Downturn

Fitch Ratings anticipates deeper interest rate cuts by the ECB and emerging markets' central banks due to worsening global economic conditions and an escalating US-China trade war,...

Economy

US Crude Oil Inventories See a Slight Increase Amidst Refinery Activity Adjustments

Commercial crude oil inventories in the US rose by 500,000 barrels to 442.9 million barrels last week, as refinery inputs decreased slightly but gasoline production saw an increase...