Global markets reacted positively to comments by Federal Reserve chief Jerome Powell who said it "makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down".
US retailers unveiled a trove of fresh promotions on Friday, as they try to coax sales from reticent shoppers whose holiday cheer has been tempered by inflation and worries over a softening economy.
The Turkish Central Bank trimmed its policy rate by 150 basis points from 10.5 to 9 percent following its Monetary Policy Committee meeting.
The Indonesian Presidency has set the agenda for the summit against a backdrop of a potential global recession, disruptions related to Covid-19 and an energy and food crisis.
Nationwide strikes over soaring inflation and wages disrupt services in both European countries, with France and Britain girding for walkouts and protests.
US President Biden warns in final days of midterm election voting that democracy itself is under threat from ex-president Donald Trump's election-denying lies and violence he said they inspire.
About half of UK households are cutting back on number of meals and almost the same proportion is finding it harder to eat healthily amid cost-of-living crisis, consumer group Which? reports.
Health providers say the gap in funding and rising inflation will force them to either have short staff, prolong waiting times for care or cut back patient care from other areas.
The founder of children's charity Arche, Bernd Siggelkow, says the state’s support program for unemployed parents and poor families is not enough to meet basic needs.
Some 1,900 members of the Unite Union will take part in the industrial action at the Felixstowe Port in the east of England following disputes over pay rise.
EU member states agreed to cut gas consumption by 15 percent by March next year in an attempt to show a unified front against Russia. But implementing the deal won’t be easy.
Analysts said the central bank's move met market expectations and they took heart in Powell's statements that implied the central bank could undertake smaller interest rate hikes later in 2022 after two straight super-sized increases.
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