The British government made faster economic growth its No. 1 mission. But efforts to kick-start it have been repeatedly knocked off course by a global economy lurching from one crisis to another. On Thursday, British officials appeared to secure a win. The country is set to announce some form of trade deal with the United…
Canada’s banker-turned-prime-minister pulled off a political miracle, leading his party from polling abyss to a rare fourth term in power, and securing the top government job after entering electoral politics just three months ago. Mark Carney, the country’s new leader, told Canadians that he was the right person to stand up to President Trump and…
Britons are bracing for a burst of higher inflation for much of this year as many household bills jump next month, a revival of the cost-of-living pressures that have squeezed household budgets in recent years. Next month, the average annual energy bill is set to rise 6.4 percent as the price cap resets. Water bills,…
Mark Carney, Canada’s soon-to-be prime minister, weathered two era-defining implosions in his career as a central banker: the 2008 global financial crisis and Brexit. He has dealt with political chaos, societal upheaval and economic meltdown. Now he faces what is arguably the challenge of a lifetime: Donald J. Trump. Can Mr. Carney negotiate with Mr….
This article was originally published before the Liberal Party announced the results of its election. It was the summer of 2007. Deep inside Canada’s finance ministry, high-ranking officials were staring down the barrel of a global financial meltdown. They weren’t sure exactly when, or how, the market would crash, but as Mark Carney tells it,…
The British economy eked out growth at the end of last year, data published on Thursday showed, slightly easing the pressure on the government as it tries to quicken the pace of economic growth. Gross domestic product increased 0.1 percent in the last three months of 2024, following zero growth in the previous quarter. Most…
The Bank of England cut interest rates on Thursday for the third time in about six months, amid signs of weak economic growth in Britain and an unexpected slowdown in inflation. Policymakers cut the key rate a quarter point to 4.5 percent as the bank lowered its forecasts for economic growth this year. Two members…
Mark Carney, one of the world’s most prominent central bankers and an evangelist of green investment, announced on Thursday that he was running to be leader of Canada’s Liberal Party and the country’s next prime minister. If he wins, he would lead the party into national elections this year. “I’m here to ask for your…