The Bank of England cut interest rates to a two-year low, leaving investors uncertain about the next move. In the US, sluggish demand led to a stagnant services sector, causing companies to reduce employment. German industrial production saw a significant drop, possibly indicating a shrinking economy.

President Trump announced plans for a 100% tariff on semiconductor imports, exempting companies moving production back to the US. The US services sector stagnated in July due to tepid demand and rising costs, with the share of consumer debt in serious delinquency rising to its highest level since 2020.

China’s export growth accelerated unexpectedly, compensating for a slump in shipments to the US. Japan’s household spending rose in June despite inflation, while Vietnam’s exports jumped in July to avoid US tariffs. Brazil is hosting COP30, a crucial climate conference, while Indonesia’s economy grows at its fastest pace in two years.

Aside from the BOE, Mexico and Lesotho lowered interest rates, while other central banks held rates steady. The global economy faces uncertainty amid economic challenges and policy decisions.

Read more at Yahoo Finance: A Split Bank of England Cuts Rates