What's next for Democrats after the midterms. And, a look at the outstanding races
Source: NPR World โ (cross-verified by 2 outlets โ full list below)
Democrats have regained control of Congress. They have a long list of investigations into Trump planned.
And, not all races have been called. Here's a look at how they could affect the Dems' majority.
Also in todayโs newsletter: Oil plunges, and China blocks Soft Bankโs acquisition of a robotics business.
โก Effects Interpreter
๐World Economylow impact
What this means for you
- โถThe ripples can spread across borders, nudging growth forecasts here and there.
- โถGrowth projections drawn up in distant capitals may need a rethink.
๐๏ธLocal Economylow impact
What this means for you
- โถCommunity shops may quietly reprice stock as costs shift upstream.
- โถHigh street footfall and spending can shift subtly after this kind of news.
๐ฆRates & Banksmedium impact
What this means for you
- โถBanks generally prefer a wait-and-see approach before touching their rates.
- โถWatching how currency markets react can hint at where rates head next.
โค๏ธHealthmedium impact
What this means for you
- โถA story like this can linger in the back of people's minds for a while.
- โถIt's easy to underestimate how much stories like this weigh on people.
๐ทWealthmedium impact
What this means for you
- โถTime in the market usually matters more than timing the market around news like this.
- โถPortfolios built for the long haul rarely need a rethink over one headline.
๐ Housinglow impact
What this means for you
- โถA cooling or warming market usually takes months to fully show up in prices.
- โถMortgage deals may edge around if lenders read the wider mood.
๐ Effects for your country
The U.S.'s central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The U.S.'s economy is growing at 2.3% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the U.S.'s own central bank rate closely. With the U.S.'s unemployment at 4.4%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone โ the real impact in the U.S. depends more on local healthcare capacity than the figures above.
The UK's central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The UK's economy is growing at 0.8% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the UK's own central bank rate closely. With the UK's unemployment at 5.6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone โ the real impact in the UK depends more on local healthcare capacity than the figures above.
France's central bank rate currently stands at 2%, so a global rates move like this could feed through to local borrowing costs. France's economy is growing at 0.9% with inflation at 1.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track France's own central bank rate closely. With France's unemployment at 7.9%, personal-finance effects like this land on a labour market that is already under strain. Health-system effects are harder to localise from economic indicators alone โ the real impact in France depends more on local healthcare capacity than the figures above.
Romania's central bank rate currently stands at 6.5%, so a global rates move like this could feed through to local borrowing costs. Romania's economy is growing at 0.7% with inflation at 7.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track Romania's own central bank rate closely. With Romania's unemployment at 6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone โ the real impact in Romania depends more on local healthcare capacity than the figures above.
The UAE's central bank rate currently stands at 3.65%, so a global rates move like this could feed through to local borrowing costs. The UAE's economy is growing at 3.1% with inflation at 2.5%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the UAE's own central bank rate closely. Health-system effects are harder to localise from economic indicators alone โ the real impact in the UAE depends more on local healthcare capacity than the figures above.