Rolling coverage of the latest economic and financial news
Budget airline Ryanair has warned that airfares could jump next year if the oil price remains high.
Ryanair has cut its passenger traffic target for the current financial year, down from 216m customers to 214m, to help reduce its exposure to “unhedged winter oil” during the unprofitabe winter months.
The sovereign debt landscape for emerging and low-income countries has gradually improved in recent years, thanks to domestic policy efforts and international cooperation. But progress has been uneven, and persistent risks and uncertainty in the global economy, including spillovers from the significant increase in yields in advanced economies, call for policy discipline and underscore the importance of building buffers.
The increase in global interest rates is of particular concern. As key advanced economy yields rise to multi-year highs, they lift most of the world’s yield curves up with them. In some emerging markets this more than fully offsets hard-won spread compression.
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