US heading for recession? The economics stories to read this week

US heading for recession? The economics stories to read this week

This weekly wrapper brings you the latest stories from the world of economics and finance.

Top economy stories: Brexit drives increase in UK food prices; US consumer confidence falls; Concerns about global economic growth continue.



1. Top global economy news stories

Economists at Germany's Deutsche Bank have warned that the US faces a recession next year as the Federal Reserve will be forced into aggressive monetary tightening in the face of rapid inflation.

Most Asian stocks fell on Wednesday as the US dollar hit a two-year high. Concerns over the global economy have seen investors seek safe havens, such as the dollar and government bonds.

Thailand has cut its economic growth forecast because of the impact of rising inflation and the war in Ukraine. Its finance ministry now expects GDP to rise by 3.5% this year, down from a forecast of 4% in January.

Russia is looking at adjustments to its foreign exchange controls to avoid situations where the rouble exchange rate deviates on a shadow market from official levels, Central Bank Governor Elvira Nabiullina said last week.

The Canadian dollar will remain at the centre of the country's financial system, the central bank chief said on Monday, responding to questions