Inflation
Wheat prices up again due to tighter supplies in US: FAO
The observation made in the FAO's Food Price Index issued on Friday was unchanged from September after six consecutive months of decline, reports Xinhua news agency. The grains and cereals sub-index rose by 3 per cent, building on a 2.2 per cent increase a month earlier.
Germany's largest gas importer posts $39billion net loss
This figure contains "10 billion euros of realized costs for replacement volumes, and roughly 31 billion euros of anticipated future losses from valuation effects on derivatives and provision built-ups related to the Russian gas curtailments as of September 30", the company said in a statement on Thursday.
The US and its struggling economic universe
Treasury yields have been rising after the Fed's latest decision on rates, which rose another 0.75 percentage point. But more notably, Fed Chair Jerome Powell said it wasn't time to back off rate increases, though he conceded they may get smaller as the central bank soaks in economic data and studies how well its actions till now have done their job.
Imperilled US focuses on inflation and economy
The Fed raised interest rates for the sixth time this year. The hike will make it more expensive for consumers and businesses to borrow money. The central bank is boosting rates to curb inflation, which hovers near a 40-year high. But the higher rates risk pushing the economy into a recession. At a news conference, Fed Chair Jerome Powell said the Fed could slow the pace of hikes as soon as next month.
US Federal Reserve hikes interest rates by 75 basis points, Indian markets and rupee to be hit
The Fed Chairman, Jerome Powell was quoted as saying by reports that the bank is firmly committed to lowering inflation. The aggressive rate hike by the Federal Reserve will put further pressure on the stock markets globally, especially on rising economies like India. Every rate hike by the US Federal Reserve forces American investors to pull out funds from emerging markets.
Pakistan's economy still in ICU with forex level at record low
Ishaq Dar, Finance Minister of the country, who replaced Miftah Ismail a month ago has had little impact on the situation. Local newspaper Dawn in its report said that forex reserves held by the country's central bank were close to nil. Of the total amount, $2.3 billion has been credited by China, $3 billion was deposited by Saudi Arabia and $1.2 billion came from the International Monetary Fund (IMF).
Eurozone inflation hits 10.7% in October
Driven mainly by increasing energy prices, October's year-on-year inflation rate is expected to climb to 10.7 per cent in the eurozone, from 9.9 per cent in September, Xinhua news agency reported citing the estimate released on Monday as saying.
Italy's inflation reaches nearly 40-year high in October
The figure was 3 percentage points above the then-record 8.9-per cent of annual inflation in September, and it was the highest since 1983 in Italy, Xinhua news agency reported. It was also the first time that the country's inflation experienced double digits since Italy's adoption of the euro currency in 1999.
Inflation continues to fall in Spain
This is the lowest level in eight months, and 3.5 per cent below the 28-year high of 10.8 per cent registered in July, Xinhua news agency quoted the INE as saying on Friday. Since then, the inflation rate has fallen for three consecutive months, with a drop of 0.3 percentage points in August, 1.6 percentage points in September and another 1.6 percentage points in October.
RBI can argue its case for not curbing inflation
The RBI's Monetary Policy Committee (MPC) will meet on November 3 to discuss what it would tell the Centre as to why it was not able to restrain the inflation. The RBI may also sound out the Central government as to the course of inflation as well as the reasons as to why it may be at the elevated levels.
Advertisement