Oxford Economics News

Indian economy a boost, hospitality giant Airbnb contributed over Rs 7,200 crore to Gross Domestic Product (GDP) and supported nearly 85,000 jobs in 2022, a report by Oxford Economics said on Tuesday. According to the report, the American company has played a significant role in bolstering India’s tourism industry. The GDP contribution and jobs supported in India has more than doubled since 2019 despite the Covid-19 outbreak and international border restrictions. The report also highlighted the powerful multiplier effect Airbnb guest spending has within local communities.

Donald Trump lambasted globalization as a raw deal for the United States that has devastated US manufacturing towns. Trump left out the upside to the United States from the liberal flow of goods: a reliable supply of affordably priced appliances, clothing and electronics whose consumption has helped lift US economic growth above other developed economies in recent years. «Obviously we've benefited significantly,» said Paul Gruenwald, global chief economist at S&P Global Ratings. «We get to consume a lot of things that are produced more efficiently in other countries.» Trump's tariffs are almost certain to negatively impact this dynamic, say economists who see the levies lifting the price on everything from Gap t-shirts to the Apple iPhone to French wine. «This is very clearly going to raise consumer prices,» Michael Pearce, a US economist with Oxford Economics, said of the barrage of levies announced late Wednesday in an unveiling the White House billed as «liberation day.»

The Bank of Canada will halt rate cuts after a March trim if United States President Donald Trump imposes 25 per cent tariffs on most goods from Canada, say economists at Oxford Economics Group Ltd., a decision that would upend standard thought about how policymakers respond to such traumatic events.

Subscribe to enjoy similar stories. Foreign institutional investors have called it quits on Asian equities after US President Donald Trump’s America First policy triggered global trade policy uncertainty. A likely shift in world trade dynamics due to potential reciprocal tariffs could hurt the economic prospects of Asian economies.

The United States Federal Reserve made a big splash with Wednesday’s 50-basis-point interest rate cut, prompting some Canadian economists to believe the Bank of Canada could match the move when policymakers meet at the end of October.

BEIJING — As China's economy moves into the second quarter of the year, a few indicators are pointing to sluggish growth ahead if things don't turn around, raising expectations for monetary policy easing.

The UK government’s tougher migration rules will hurt growth and damage the Chancellor’s chances of cutting taxes ahead of an election, a former Bank of England rate-setter has warned.

Hetal Mehta, head of economic research at St James’s Place

Investing.com — The dollar snapped a two-week losing streak Friday ahead of the Federal Reserve's widely expected rate hike next week, but some are divided on whether the rebound has staying power.

Australia’s central bank has left its benchmark interest rate at 4.1% after inflation fell to 5.6% in May from 6.5% a month earlier