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The Swiss economy will grow by 1.5% next year, the government forecast on Tuesday, slightly revising down its outlook for one of Europe's traditionally most resilient economies. Switzerland's export-oriented economy had previously been forecast to grow by 1.2% this year and 1.6% next year, the State Secretariat for Economic Affairs (SECO) said. SECO said domestic demand is likely to be a key driver of growth next year in Switzerland, which is having to weather subdued demand for its goods in Germany and China.

South Korea's monetary policy board members said there was a need to respond quickly and preemptively to a slowing economy, as they decided to lower interest rates for a second straight meeting on Nov. 28, according to minutes released on Tuesday. "It is deemed more urgent at this time to respond preemptively to downward pressure on the economy," one member said. "As rate cuts alone will be insufficient to control the risks at hand, there is a critical need for timely and flexible policy coordination with fiscal policy," the member said.

PIC says the U.K.’s stunted planning policy is leaving $250 billion for viable projects unused.

Australian consumer sentiment took a step back in December as concerns about the economic outlook outweighed an improvement in people's own finances, a survey showed on Tuesday. The Westpac-Melbourne Institute index of consumer sentiment fell 2.0% in December, unwinding a little of the sharp gains seen over the previous two months. Westpac Senior Economist Matthew Hassan said the pullback was likely influenced by a disappointing reading on economic growth released in early December.

(Bloomberg) -- Oil slipped as economic data from China reinforced concerns about weakening demand in the world’s biggest crude importer. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearWest Texas Intermediate edged 0.8% lower to settle below $71 a barrel, while Brent breached $74. China’s crude refining dipped to the lowest in five months in November, while apparent oil dem

(Bloomberg) -- Gold edged higher ahead of the Federal Reserve’s final interest-rate decision of the year, with traders also weighing the policy outlook for 2025.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearBullion’s gain followed a 2.6% decline in the previous two sessions on the back of mixed US data last week — including accelerating wholesale inflation and higher-than

(Bloomberg) -- Texas Governor Greg Abbott has a new ambition for the Lone Star State: surpassing France as one of the world’s largest economies. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfCity Hall Is HiringLondon’s Tube Fares Are Set to Rise by 4.6% Next YearAmerican Institute of Architects CEO ResignsAbbott predicted that economic output in Texas would soon exceed that of the struggling European nation thanks to boomin

But her next step demonstrated why some Federal Reserve officials see the U.S. job market as not only healthy but perhaps contributing to rising productivity they are coming to believe may persist: Within a week the 33-year-old human resources professional accepted a job as a recruiter with a pool equipment operator that allowed her to work from home in Pennsylvania in her area of expertise - a sweet spot, she feels, for high performance. When Fed policymakers gather this week for their last meeting of the year, the focus will be on an expected quarter-percentage-point interest rate cut and policymakers' updated outlooks for the economy and rate cuts. But influencing those discussions and the longer-term arc of monetary policy is an emerging debate about productivity and how fast output can grow without stretching the economy's capacity and generating inflation above the Fed's 2% target.

Federal Reserve Governor Christopher Waller, whose views are often a bellwether for U.S. monetary policy, said on Monday that with inflation still forecast to fall to 2% he is inclined "at present" to support another interest rate cut later this month. The comments from a key US rate-setter led investors to boost expectations for a rate cut at the Fed's December 17-18 meeting to nearly 75%, and pushed down yields on the two-year Treasury note. "Policy is still restrictive enough that an additional cut at our next meeting will not dramatically change the stance of monetary policy and allow ample scope to later slow the pace of rate cuts, if needed, to maintain progress toward our inflation target," Waller told a central bank symposium organized by the American Institute for Economic Research.

A top Federal Reserve official said Monday that he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view. Speaking at George Washington University, Christopher Waller, a key member of the Fed's Board of Governors, said he was confident that inflation is headed lower and that the central bank will likely keep reducing its key rate, which affects many consumer and business loans. “At present, I lean toward supporting a cut to the policy rate at our December meeting," Waller said in his remarks to a conference held by the American Institute for Economic Research.