Overseas Headlines – May 13, 2022

United States:

US Recession Odds Within the Next Year Now 30%, Survey Shows

The odds of a US recession within the next year are steadily rising. The probability of a recession over the next 12 months is now 30%, the highest since 2020, according to the latest Bloomberg monthly survey of economists. That’s up slightly from 27.5% in April and double the odds economists predicted just three months ago.



BOE Told More Rate Hikes Needed as Inflation Harder to Tame

“The Bank of England is being warned it may have to hike interest rates higher than investors expect, even as the risk of recession mounts, in part because it has lost much of its power to control inflation.”



China Rate Cut in Focus as Economy Counts Cost of Covid Zero

“China will likely report the weakest monthly economic indicators since the outbreak of the pandemic two years ago, putting pressure on the central bank to boost stimulus to support growth.”



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