INT
Long-term higher food prices will drive inequalities
World food prices continued to ease in July, led by cereal, although remain far above 2013-18 levels
InternationalUS economic indicators are pointing towards a rate cut
Growth in labour costs slowed steadily in April-June and the Fed remain hopeful of cutting interest rates soon
United StatesWorld trade growth will recover modestly, led by Asia
The WTO annual report remains optimistic that world trade will grow solidly and can drive job creation and food security
InternationalVery slightly lower UK rates will relieve borrowers
The Bank of England has cut rates for the first time since the onset of the global pandemic, with 5/9 voting for a cut
United KingdomUS economic data and how voters feel is diverging
US job vacancies fell slightly and hiring fell to the lowest since early 2020 but consumer confidence remains reasonable
United StatesMore Japanese rate rises likely despite demand fears
Japan raised interest rates from 0.0-0.1% to 0.25% and the yen gained more than 1% against the dollar
JapanChina’s downturn raises the urgency of stimulus needs
The official manufacturing PMI fell to a five-month low and services activity did not grow in July
ChinaEuro-area inflation stuck near 2.5% will test ECB
July euro-area headline inflation edged up to 2.6% on slightly pricier energy and core inflation was unchanged at 2.8%
EU
