🚆Catch up quickly on the top news stories of the week so you can stand out in Law Firm applications.
In a welcome twist, America’s annual inflation rate fell to 3.2% in October, hinting at potential relief from relentless price hikes. Similarly, the UK saw a significant drop in its annual inflation to 4.6%, the lowest in two years. These changes have invigorated stock markets, especially in the U.S., as investors anticipate a slowdown in central banks' interest rate hikes.
Japan’s riding a bit of a rough wave, with its economy shrinking by 2.1% annually in the third quarter. It’s a bit of a stress test for households and businesses, compounded by an unusual 3% inflation rate. The Bank of Japan is now playing a high-stakes game, figuring out how to ease off its mega monetary stimulus and negative interest rates without causing a stir.