Russia’s central bank to hold extraordinary meeting after rouble falls to 16-month low Bank will discuss interest rate after high spending on war in Ukraine and drop in export revenues put further pressure on Russia’s economy
In previous downturns the world turned to China as an engine of growth – this time that driver may not be there What might Chinese deflation mean for interest rates, commodity prices and even EV exports outside China?
Why the US will break out first from the low-growth trap Western economies must adopt industrial strategies, boost R&D and exploit new tech to prosper – Americans realise this better than Europeans
UK interest rates need to stay higher for longer to beat inflation, says IMF US Fed will also have to raise rates more aggressively than forecast, says Washington-based body
Share of EU trade for English and Welsh factories falls despite global trade boom Make UK report says post-Brexit structural shift in trade is particularly hurting factories in north-west and West Midlands
Australian grain growers locking in surging prices following collapse of Black Sea deal Russia’s end to Ukrainian grain export deal set to benefit local farmers during their fourth consecutive year of healthy harvests
Grain prices rise after Russian pullout of Black Sea deal sparks food crisis fears Moscow criticised as concern grows about impact of climbing agricultural commodity prices on poorer countries
UN agency pushes for debt repayment breaks as poverty rates rocket Estimated 25 low-income countries spent more than 20% of their revenues on debt servicing last year
Economic ‘headwinds’ lead IEA to cut global oil demand forecast International Energy Agency still expects a record high this year, but for growth to be lower than thought
FTSE 100 marks best day of 2023 as US inflation falls to 3% ‘Not too early to start chilling the champagne,’ says one analyst as traders toast drop in consumer inflation
The planet heats, the world economy cools – the real global recession is ecological Governments focus on the climate when they have few other economic worries. That can no longer be the case
Weaker competition blamed for higher petrol and diesel prices; MPs blast ‘measly’ savings rates – as it happened Government pledges to expose ‘rip-off’ fuel retailers, after inquiry finds declining competition between retailers led to higher prices at the pumps
Corporate profits drove up prices last year, says ECB president Christine Lagarde says without a shift in corporate behaviour, interest rates will need to stay higher for longer
Governments advised to cut public spending or raise taxes to curb inflation Bank of International Settlements warns that economies, such as in the UK, need policies to cool price growth
The Guardian view on Macron’s green finance deal: save lives, not profits Editorial: The Paris conference shows the climate crisis is no time for the tranquillising drug of gradualism