MANILA (Reuters) – Philippine central bank governor Felipe Medalla said on Friday that in the “worst-case scenario” of inflation rising above 9%, interest rates might be hiked by 50 basis points. Bangko Sentral ng Pilipinas’ (BSP) next rate hike could be 25 or 50 basis points depending on the latest economic data, he said. “Worst-case …
Philippines central bank gov sees 50 bps rate hike if inflation tops 9% Read More »
DUBAI (Reuters) – Growth in the United Arab Emirates’ (UAE) non-oil private sector in February accelerated slightly from the previous month, supported by a pick up in output growth, although the overall outlook remains uncertain, a survey showed on Friday. The seasonally adjusted S&P Global UAE Purchasing Managers’ Index (PMI) expanded to 54.3 in February …
UAE’s non-oil business activity picks up in Feb on output growth-PMI Read More »
BEIJING (Reuters) – China will step up international macro policy communication and coordination, Yi Gang, central bank governor, said at a press conference in Beijing on Friday. China will also play a role in tackling the debt burdens faced by some countries, he added. (Reporting by Kevin Yao and Joe Cash; Editing by Himani Sarkar)
SYDNEY (Reuters) – Consumer confidence in New Zealand fell in February compared with the prior month as households grappled with higher living costs and rising interest rates amid intense inflationary pressures, ANZ-Roy Morgan data showed on Friday. The consumer confidence index eased 3 points to 79.8 in February. A reading above 100 shows optimism, while …
New Zealand consumer confidence slips in February -ANZ-Roy Morgan Read More »
(Reuters) – Brazilian Finance Minister Fernando Haddad said on Thursday the ministry plans to finish working on a new fiscal framework this week and present it to President Luiz Inacio Lula da Silva. “This month, we want our opinion to be made public on how the new fiscal framework should be,” Haddad told journalists. The …
Brazil’s work on new fiscal framework to end this week, says finance minister Read More »
By Howard Schneider WASHINGTON (Reuters) – The impact of higher U.S. interest rates on the economy may only begin to “bite” in earnest this spring, an argument for the Federal Reserve to stick with “steady” quarter-point rate increases, Atlanta Federal Reserve President Raphael Bostic said on Thursday. “I am still very much of a mindset …
Bostic: Quarter-point US rate increases best to limit risk to economy Read More »
(Reuters) – The International Monetary Fund (IMF) on Thursday approved over $1.7 billion in funds for Jamaica to help it insure against higher inflation, tighter fiscal conditions, possible COVID outbreaks and climate change. The IMF said in a statement its executive board had approved Jamaica’s request for some $968 million under a Precautionary and Liquidity …
IMF approves over $1.7 billion for Jamaica to protect from inflation, climate change Read More »
RIYADH (Reuters) – Saudi Arabia has launched 192 billion riyals ($51.2 billion) of investments led by local companies, including oil giant Aramco, SABIC and Ma’aden, under a government-backed initiative, state news agency SPA reported. The projects are part of a programme called Shareek, a 5-trillion-riyal investment initiative announced by Saudi Crown Prince Mohammed bin Salman …
Saudi companies to invest $51 billion under government-backed plan Read More »
(Reuters) – The number of people registering as jobless in Spain rose by 0.1% in February from a month earlier, or by 2,618 people, leaving a total of 2.91 million people out of work, data from the Labour Ministry showed on Thursday. The number of unemployed people was the lowest registered in a month of …
Spain’s February jobless rises 0.1% from January to 2.91 million Read More »
By Francesco Canepa FRANKFURT (Reuters) – Huddled in a retreat in a remote Arctic village, European Central Bank policymakers faced up last week to some cold hard facts: companies are profiting from high inflation while workers and consumers foot the bill. The prevailing macroeconomic narrative over the past nine months has been that sharp increases …
ECB confronts a cold reality: companies are cashing in on inflation Read More »
