The Bank of England’s Chief Economist, Huw Pill, recently expressed concerns about the strength of services inflation and wage growth. This hints at a possible shift towards a more hawkish monetary policy stance. This comes at a time when the UK economy is facing challenges such as high services inflation and an elevated unemployment rate.
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The Russian Central Bank made a significant move by increasing its key interest rate by 200 basis points to 18%, citing high inflation and an overheated economy as key reasons for the decision. This latest hike has brought the cost of borrowing to its highest level in over two years. The central bank also adjusted
When it comes to making financial decisions, it is crucial to conduct your own due diligence. The information provided on various platforms, including news articles, analysis, and opinions, should not be viewed as direct recommendations. It is your responsibility to assess the information, apply your discretion, and seek advice from competent advisors before taking any
The gold price (XAU/USD) has been facing significant selling pressure for the second consecutive day, resulting in a drop to a two-week low. This downward trend can be attributed to technical selling activities. However, the decline is expected to be limited due to certain supporting factors in the market. One such factor is the growing
In July, the Small and Medium Enterprise Index (SMEI) rebounded to 50.4, showing signs of recovery in expectations and credit conditions. This improvement was evidenced by a rise from 49.9 in June, bringing the SMEI back into expansionary territory. Standard Chartered economists Hunter Chan and Shuang Ding noted that this rebound was largely due to
The upcoming economic indicators, including the Jibun Bank Services PMI and Tokyo’s core inflation rate, are crucial factors that could influence the Bank of Japan’s policy decisions on July 31. A higher-than-expected PMI in the services sector could potentially signal a recovery and justify a rate hike to strengthen the Japanese Yen. Similarly, an increase
The EUR/USD pair edged higher to 1.0895 in Monday’s early Asian session, up 0.12% on the day. This increase can be attributed to Fed’s Williams statement that the US central bank is “getting us closer to a disinflationary trend that it’s looking for.” The rising bets on the Federal Reserve rate cut in September and
Recently, Nataxis Asia Pacific Chief Economist Alicia Garcia Herrero expressed disappointment in China’s industrial policies following the Third Plenum. She noted a lack of significant change in direction towards consumption-led growth or market forces. Economists are predicting an increase in the Chicago Fed National Activity Index from 0.18 in May to 0.30 in June. This
Rachel Reeves, the new finance minister in Britain, is contemplating the implementation of inflation-busting pay increases for nearly 2 million government employees in an attempt to prevent potential public sector strikes. The proposed pay rises, recommended by two government advisory bodies, would equate to a 5.5% raise for 460,000 teachers and 1.4 million National Health
The upcoming setting of China’s one-year and five-year Loan Prime Rates (LPR) by the People’s Bank of China (PBoC) could potentially have a significant impact on the Australian economy. Economists are expecting the LPRs to remain steady at 3.45% and 3.95% respectively. However, any unforeseen rate cuts could lead to increased demand for the Australian
The European Central Bank (ECB) recently held its rates steady and its President, Christine Lagarde, hinted at the possibility of further interest rate cuts in the near future. While Lagarde stopped short of declaring victory over the bout of high inflation caused by the COVID-19 pandemic, two ECB policymakers, French governor Francois Villeroy de Galhau
Inflation plays a crucial role in determining the strength of a country’s currency in the foreign exchange market. It is a measure of the rise in the price of goods and services over a period of time. In this article, we will explore how inflation impacts currency exchange rates and what factors come into play.
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