The rapid decline in energy costs should help to tame inflation in Europe, Bank of Italy governor Ignazio Visco said on Saturday, urging companies not to seek to boost their margins by leaving prices higher for longer.
British consumers picked up the pace of their spending last month and sales volumes over the three months to April grew by the most since mid-2021, according to official data that suggested limited impact from the surge in inflation.
Africa's economic growth is set to edge upwards in 2023 and 2024 amid tighter global monetary policy and the fallout from Russia's invasion of Ukraine, but South Africa's will plummet, the African Development Bank (AfDB) said.
U.S. President Joe Biden and top congressional Republican Kevin McCarthy could speak as soon as Sunday in talks over raising the federal $31.4 trillion debt ceiling.
President Joe Biden's administration and Republicans in the U.S. Congress are in talks to end their standoff over raising the $31.4 trillion debt ceiling, haggling over vastly different proposals that both claim to cut deficits by trillions of dollars.