June 10, 2023
The US Federal Reserve will have to take tougher measures than expected to root out inflation, according to most of the leading academic economists polled by the Financial Times, who predict at least two more quarter-point interest rate hikes this year. Last surveyconducted in partnership with the Kent Clark Center for Global Markets at the
READ MORE
For the non-financial corporate business sector, using the price per unit of real gross value added. Picture 1: Quarterly price inflation of gross value added (black line), contribution of unit labor costs (blue bar), unit non-labor costs (brown), and profits (green). Peak-to-trough dates as determined by the NBER are in grey. Source: BEA 2023Q1, 2nd
READ MORE
UK-based construction company Crest Nicholson reported a 60% drop in profits after last year’s mini-budget rattled the property market and warned of inflation-related risks. Mortgage rates rose sharply in recent weeks in response to higher-than-expected UK inflation of 8.7% in April, undermining a recovery in housing market confidence from late last year’s turmoil. “Mood has
READ MORE
The Bank of the Philippine Islands (BPI) expects its small business loan portfolio to expand by 10 percent this year amid stronger consumer confidence driven by the country’s strong economic performance and declining inflation. Dominique R. Okliasa, head of BPI Business Banking, said his segment’s loan portfolio for small businesses, which has an annual revenue
READ MORE
(UPDATE) INFLATION slowed for the fourth straight month in May as transportation costs fell and food price increases slowed, the Philippine Statistics Authority (PSA) said Tuesday. A result of 6.1% compared to 6.6% in April, but still higher than a year earlier (5.4%), fell within the Bangko Sentral ng Pilipinas (BSP) forecast of 5.8% to
READ MORE
The Department of the Treasury (DOF) said that for the fourth month in a row, slowing inflation in May “provides” confidence that the rate will be within the government’s target range of two to four percent by September. “New inflation data and a downward trend give confidence that by September of this year, inflation will
READ MORE
And relax. After months of performative bickering, US politicians finally agreed to give the country more borrowing leeway, negating the risk of a potentially catastrophic default on its government bonds. Preventing disaster in the so-called risk-free asset of the world is a victory for common sense. If you’ve invested heavily in chip maker Nvidia and
READ MORE
This article is a local version of our Unhedged newsletter. Register Here receive a newsletter directly to your inbox every weekday Good morning. On Wednesday I watched on the results of discounters and wrote that “it is becoming increasingly clear that low-income consumers are under pressure to meaningfully change their shopping habits.” Yesterday Dollar General,
READ MORE
A worker sits on a cart waiting for customers at a market in Rawalpindi on June 1, 2023. (Photo by Farooq NAEEM/AFP) ISLAMABAD, June 1, 2023 (AFP). Annual inflation in Pakistan reached a record 37.97% in May, the country is on the brink of economic collapse, and important bailout talks have stalled, according to official
READ MORE
Eurozone inflation fell more than economists expected, hitting its lowest level since Russia invaded Ukraine more than a year ago, raising hopes that monetary policymakers will be able to stop raising interest rates this summer. Annualized consumer prices in the 20-country common currency bloc rose 6.1 percent year-to-date through May, down from 7 percent in
READ MORE