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Inflation in the UK dropped to its lowest since June 2016 last month amid dry demand from the global economy and a drop in oil prices. The Office for National Statistics said that consumer price inflation slowed to 0.5 percent from 0.8 percent in April.

The US Federal Reserve policymakers on Wednesday predicted that the US economy would shrink 6.5 percent in 2020 and unemployment would still be at 9.3 percent at year end. It also indicated that it plans years of extraordinary support for the economy.

In its latest effort to support the eurozone economy, the European Central Bank increased its bond-buying programme on Thursday. It increased the size of its Pandemic Emergency Purchase Programme (PEPP) to EUR 1.35 trillion…

A plan was unveiled on Wednesday to support the economies that were hammered by the pandemic, hoping to end months of disagreements.

In Europe, France and Germany called for the creation of a 500-billion-euro Recovery Fund able to offer grants to the countries and regions that are hardest hit by the coronavirus crisis.  The proposal is for the European Commission to borrow money…

In a closely watched speech Federal Reserve Chairman Jerome Powell gave an assessment of the US economic outlook on Wednesday. Powell is the latest of the policymakers to brush off the idea that…

Britain’s central bank kept the Bank Rate at its all-time low of 0.1 percent and left its target for bond buying, most of it, British government debt, at 645 billion pounds. The Bank of England held off from pumping further stimulus into Britain’s economy. 

It has been a month like no other for the Federal Reserve.  The meeting was the first held by the FED since it took emergency steps in March and April to stabilize financial markets. 

Prospects that supply would outstrip demand for oil for several months resulted in two of the wildest oil trading days in history this week. U.S. West Texas Intermediate crude futures closed at …

According to the International Monetary Fund on Tuesday, the global economy is expected to shrink by 3.0% during 2020 amid the drop-in activity from the coronavirus that will mark the steepest downturn since the Great Depression of the 1930s.

Equity investors were encouraged as the death toll from the virus slowed in major European countries including France, Italy and New York.  The S&P 500 was on track to recoup about $1 trillion in market value on Monday after New York, the biggest US hot spot for coronavirus reported a fall in daily. 

Global oil prices have fallen by roughly two-thirds this year as the coronavirus pandemic slammed global economies and major producers Saudi Arabia and Russia started to flood the market with oil.