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The US Federal Reserve, the country’s central bank, boosted its benchmark overnight interest rate by 75 basis points on Wednesday — and said further rate hikes are anticipated. In Bermuda, the Bank of N.T. Butterfield & Son Limited was the first loca...

Twelve years after government sought to arrest the decline in retail sales, the ‘Buy Bermuda’ campaign may be in jeopardy. Alarmingly in 2010, government reported how resident purchases overseas increased by a whopping 14 per cent per cent in June 2...

June’s retail sales volume fell to a lower level than the pre-pandemic June of 2019, the government reported Friday night. Even less food was sold. Retail sales for June 2022 decreased 4.3 per cent compared to last year. In value terms, retail sales ...

Retail sales in Bermuda continued their rebound in May, albeit slightly, increasing for the second consecutive month year over year, as reflected in the May 2022 Retail Sales Index. After adjusting for the retail sales rate of inflation, measured...

The US Federal Reserve’s unprecedented tightening of monetary policy may have slowed the inflation momentum, but an economist has warned that the Fed needs to “keep the pedal to the metal”. The latest edition of Economic Insights from the Swiss Re In...

This is one of those strange times when markets appear to be sending conflicting signals. Specifically, the 15 per cent rebound in the S&P 500 stock index since bottoming in mid-June suggests a light at the end of the economic tunnel. In fact, secon...

Inflation rose 3.7 per cent year on year, the largest increase in almost 15 years, as food and health care costs rose

The US Federal Reserve, the country’s central bank, boosted its benchmark overnight interest rate by 75 basis points today as it seeks to control runaway inflation in the world’s largest economy. The three-quarters of a percentage point rise is the F...

A new report from KPMG said island governments were developing new or refreshed national economic strategies to get their countries on the right track after being hard hit by the pandemic. The report outlined best-in-class examples of how islands are...

As the Government continued ongoing debt management efforts, it announced the commencement of offers for the purchase of its senior notes. It involves an offer to buy the outstanding 4.138 per cent senior notes due in 2023 and the 4.854 per cent seni...