Tag Archives: inflation

St. Louis Federal Reserve Bank President James Bullard said on Thursday that the Federal Reserve is having to raise rates pretty rapidly to get to a minimally appropriate level to tackle inflation, as reported by Reuters.The greenback stays on the backfoot after these comments and the US Dollar Index was …

The US economy contracted at an annualized rate of 0.6% in the second quarter, the US Bureau of Economic Analysis’ (BEA) third and final estimate showed on Thursday. This reading came in line with the market expectation and the previous estimate. GDP, the standard economic growth measure, is the value …

As measured by the Consumer Price Index (CPI), annual inflation in Germany climbed to 10% in September from 7.9% in August, Germany’s Destatis reported on Thursday. This reading came in higher than the market expectation of 9.4. Meanwhile, the Harmonised Index of Consumer Prices (HICP), the European Central Bank’s (ECB) …

Gold prices soared, and XAUUSD trades at $1,660 per troy ounce, its highest for the week. Crude oil prices recovered, and WTI settled at $82.00 a barrel. The US dollar pushed its rally throughout the first half of the trading day but changed its direction dramatically after Wall Street’s opening. …

The World Bank said on Wednesday it had approved $512.2 million in financing for Turkey to boost the resilience of the housing and infrastructure sectors to climate change and natural hazards. The bank said in a statement that $338.5 million of the financing would be used to develop new affordable …

Speedy US rate hikes raised the risk of recession, but it is likely to be caused by an outside shock rather than from the collapse of the American economy that remains robust according to statements by St. Louis Fed president James Bullard.Bullard said, at an economic forum in London, that …

The Bank of England is expected to decide an important policy response to finance minister Kwasi Kwarteng’s financial plan embodying tax cuts but, the central bank could wait until its next scheduled meeting in November before making such a move according to BoE Chief Economist Huw Pill.The British pound gathered …

Swiss National Bank (SNB) Chairman Thomas Jordan said on Friday that further rate rises cannot be ruled out, as reported by Reuters.The USD/CHF pair edged slightly lower on these comments and was last seen rising 0.42% on the day at 0.9808.Key Quotes “Swiss inflation has risen much more than expected, …

The Swiss Central Bank raised interest rates Thursday, September 22, by 75 basis points for the second time in a row during the third quarter of 2022, to levels of 0.5% from -0.25%. The rise came by 75 basis points to -0.25% on June 16, which was the first rate …

Fed Chair Jerome Powell has said that “pain” could be required to suppress high inflation, implying that the Fed is willing to accept a recession in order to cool inflation. This is why Wednesday’s interest rate hike is more like dancing on a tightrope with a potential risk of dragging …