The chief of the IMF's strategy department forecasted that the organization would be compelled to "substantially" lower its estimate of global economic growth. In its July forecast, the International Monetary Fund (IMF) will need to "substantially" lower its projection for global economic growth, said Ceyla Pazarbasioglu, the director of the IMF's Strategy, Policy, and Analysis Department....

In June, the annual rate of core inflation in Japan was higher than the central bank's objective of 2 percent, according to economists surveyed by Reuters. This is a warning that the economy is coming under more pressure from rising commodity prices and a falling yen. The numbers from the following week are likewise anticipated to reveal a very big yearly increase in June imports, which should...

In June, the annual rate of U.S. inflation surpassed economists' expectations and set a 41-year record high of 9.1 percent. Increased pressure on the Fed and the Biden administration results from accelerated price growth. According to information from the US Labor Department, the U.S. consumer price index increased by 9.1% year over year in June, setting a record that has stood since the end of...

In the first half of 2022, China's agricultural exports increased by 21.7 percent to $45.08 billion while its agricultural imports increased by 5 percent to $109.5 billion, according to Li Kuiwen, spokesperson for the General Administration of Customs in China. Li Kuiwen reported that the first half of the year saw an increase of 21.7 percent in China's agricultural exports, reaching 303.1...

According to Bloomberg and The Wall Street Journal, implementation of the global tax overhaul for multinational corporations would not begin until 2024. Work on tax adjustments for multinational firms is currently proceeding as part of an agreement signed under the auspices of the Organization for Economic Cooperation and Development (OECD) in October 2021. A reform that would allow countries...

International rating agency Fitch confirmed the United States' long-term issuer default rating (IDR) at "AAA" while changing the outlook from negative to stable. The announcement stated that the outlook was changed to stable to reflect "better near-term public debt dynamics" brought on by "strong post-pandemic economic recovery" and "strong government revenues, which Fitch forecasts to expand by...

For the first time since mid-June, Bitcoin has surpassed the $22,000 mark. The cryptocurrency market is once again valued at $1 trillion, and the largest coin may expand by 13 percent per week. That is the largest weekly increase since 2021. The price of a single Bitcoin increased to $22,000 on cryptocurrency markets. According to Bloomberg, the price of the largest cryptocurrency increased by...

According to a news statement from the European statistical agency Eurostat, the volume of retail sales in the euro area increased in May by 0.2% over April. DailyFX's poll of analysts forecasted a 0.4 percent rise. Retail sales in the area increased 0.2 percent in May on an annualized basis. Analysts had predicted a fall of 0.4%, in comparison. Retail sales in the European Union increased 0.8...

To attract investments, the Brazilian government has permitted lithium exports. To encourage investment in the sector particularly in the most underdeveloped area of the country, the Brazilian government has approved the export of lithium materials and their derivatives. Lithium minerals, ores, and their derivatives can now be traded internationally, according to Brazil's Ministry of Mines and...