Coming up in the global economy this week are readings on inflation in the U.K. and growth in the euro region, the third Communist Party plenary session in China and retail sales in Brazil. In the U.S., Janet Yellen’s confirmation hearing in her bid to become the next chairman of the Federal Reserve will take center stage.
Euro-area services output expanded at the strongest pace in almost three years last month, helping create jobs in a region suffering from low inflation, anemic growth and unemployment close to a record high.
Chancellor of the Exchequer George Osborne said the U.K. economy will grow more than previously forecast and announced help for savers and pensioners as he set out his penultimate budget before the 2015 election.
Chancellor of the Exchequer George Osborne is considering looking outside the Bank of England for a successor to Mervyn King, which would be the first such move in 30 years, according to two people with knowledge of the matter.