week: A barrel of Brent crude cost 86 at the beginning of October, according to The Guardian. Last week the cost of a barrel fell to just 66 before settling at 67. In the global ranking of economic events, a 20%-plus drop in the price of the black stuff is a big deal. Of course, the Brent price is only back to where it was in March, and remains well above the low of 28 it hit in early 2016. And if fuel costs are not rising and the Federal Reserve is no longer pushing for higher rates, the pressure will be off the Bank of England, the European Central Bank and the Bank of Japan to follow suit. Yet such a dramatic fall will force America's central bank to rip up its forecasts for inflation and reconsider some of its planned interest rate rises.
(news.financializer.com). As
reported in the news.
Tagged under week, october topics.