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Former US Fed chair says lowering rates to reduce debt service cost can lead to inflation getting out of controlBusiness live – latest updatesThe former US Federal Reserve chair Janet Yellen has attacked Donald Trump’s push for lower interest rates, co…
Chancellor faced with fund’s forecast that impact of Iran war will leave Britain as G7’s biggest loserIran war escalation could trigger global recession, IMF warnsThe Iran war is bad news for the global economy. But for some countries, the unfolding co…
Decision to reduce duty-free quotas by 47% aimed at curbing Chinese importsBusiness live – latest updatesThe EU is to go ahead with plans to double tariffs and halve quotas on imports of steel from July, in a move designed to curb Chinese imports but w…
Growth forecasts cut for US and global economy, while UK suffers sharpest downgrade in G7Reeves arrives at IMF with little leeway to prove its UK downgrade wrongA further escalation in the Iran war could trigger a global recession that would affect the…
Kevin Warsh, seeking to replace Fed chair, Jerome Powell, had to file financial disclosures for Senate approvalKevin Warsh, the former Federal Reserve governor chosen by Donald Trump to lead the central bank, has submitted financial disclosures that su…
As treasurer Jim Chalmers weighs ‘extreme uncertainty’, one economic scenario sees global growth plunging to just 2% in 2026Get our breaking news email, free app or daily news podcastThe International Monetary Fund has warned the US-Israel war on Iran …
Oil-driven inflation is big challenge to world economy, lifting inflation and depressing growth, says bank’s chairBusiness live – latest updatesHSBC bosses have said the Iran war is already hitting global economic confidence, as a string of business le…
In today’s newsletter: More than one-fifth of ‘austerity-generation’ British children live in poverty. Our social policy editor talks about the damage done and the way forwardThe austerity years cast a long shadow over Britain. In the wake of the 2008 …
Consumer spending on travel is down for the first time in five years while card spending edges up in MarchUK consumers have cut back on travel spending for the first time in five years, as they worry about the rising cost of living amid the Iran war.Ov…
US president’s previous threat to block strait of Hormuz had led to a 6.9% increase in earlier tradingExplainer: strait of Hormuz blockadeOil prices have fallen back after briefly rising to above $100 a barrel as Donald Trump claimed Iran had made cont…