economy

UK economy: May GDP contracts 0.1% for second straight month; BoE rate cut likely amid fiscal pressure

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Britain’s economy contracted for the second consecutive month in May, dealing a blow to finance minister Rachel Reeves as she navigates a shaky domestic recovery and heightened global uncertainty. Official figures released on Friday showed that gross domestic product (GDP) declined 0.1% in May, following a 0.3% drop in April.The latest reading came as a … Read more

RBI outlook to Parliament panel: Governor Sanjay Malhotra says economy strong; Rs 2,000 notes still legal but out of circulation

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RBI Governor Sanjay Malhotra on Thursday briefed the Parliamentary Standing Committee on Finance on the state of the Indian economy, assuring lawmakers that the country was performing well despite global headwinds.According to panel Chairman and BJP MP Bhartruhari Mahtab, “He gave us a wide range of information related to the economic situation and the financial … Read more