Charting the global economy: World economy is set for a slowdown next year after "subpar" 2023
Federal Reserve and Bank of England left interest rates unchanged this week, while both left the door open to additional increases should inflation prove persistent.
Policymakers in the US made their decision unanimously, while those in the UK were split. Meantime, Bank of Japan Governor Kazuo Ueda tamped down speculation of a near-term interest rate hike after the central bank chose to stick with its ultra-easy stimulus.
Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:
US
Fed Chair Jerome Powell made clear Wednesday the central bank is close to done raising interest rates, but his colleagues delivered the message that resonated: Borrowing costs must remain higher for longer amid renewed strength in the economy.
US hotels and resorts learned to operate with leaner staffing models during the pandemic. Three years later, Covid-era band-aids like self-service kiosks and less-frequent housekeeping have now become the new normal for many firms seeking to cope with rising labour costs.
Nowhere in the US is the fallout more apparent than in Las Vegas, where one in four people are employed in the leisure and hospitality sector.
Europe
The Bank of England halted for now the most aggressive cycle of interest-rate rises in more than three decades as concerns about inflation gave way to signs the economy is slipping into a recession. The decision followed a report that showed UK inflation unexpectedly slowed in August to the lowest level in 18 months.
