Saturday, December 28

Tag: economic performance

Argentina’s Milei Swaps ‘Burning Down’ the Central Bank for Shock Therapy 101
13Dec By adminNo Comments
Money

Argentina’s Milei Swaps ‘Burning Down’ the Central Bank for Shock Therapy 101

Dec. 13, 2023 10:48 am ETArgentina’s radical, anarcho-capitalist President Javier Milei may turn out to be pretty conventional. That comes with good and bad news for investors.Late on Tuesday, the country’s new government announced its first set of economic measures since Milei was sworn in. Economy Minister Luis Caputo said the peso’s official exchange rate against the U.S. dollar would be roughly halved and that public spending would be drastically reduced by cutting energy and transportation subsidies, canceling public works and reducing transfers to provinces.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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U.K. Economy Shrinks, But BOE Unlikely to Be Pushed Into Rapid Rate Cuts 
13Dec By adminNo Comments
World

U.K. Economy Shrinks, But BOE Unlikely to Be Pushed Into Rapid Rate Cuts 

Updated Dec. 13, 2023 3:01 am ETThe U.K. economy shrank a little more than expected in October, though likely not enough to convince the Bank of England to start cutting interest rates from their current elevated levels in the short term.Gross domestic product fell by 0.3% compared with a month earlier, according to preliminary figures set out Wednesday by the Office for National Statistics. Economists polled by The Wall Street Journal had expected GDP to contract by 0.1%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Economists Keep Singapore 2023 Growth Forecast Steady, Trim 2024 View in MAS Survey
13Dec By adminNo Comments
World

Economists Keep Singapore 2023 Growth Forecast Steady, Trim 2024 View in MAS Survey

Dec. 12, 2023 11:04 pm ETSINGAPORE—Experts surveyed by Singapore’s central bank have maintained their economic growth forecast for this year, but trimmed their views for 2024, flagging risks from an external slowdown.The Monetary Authority of Singapore’s December survey, released Wednesday, showed that the median projection of economists and analysts is for gross domestic product growth of 1.0% in 2023. That is unchanged from the previous quarterly survey, in which the forecast was lowered from 1.4%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Jay Powell’s Mixed Price Signals
13Dec By adminNo Comments
Health

Jay Powell’s Mixed Price Signals

Everyone expects the Federal Open Market Committee (FOMC) to hold firm on its interest-rate target when it announces the results of its policy meeting on Wednesday, and the latest price signals suggest that’s the right stance. The consumer-price index for November showed Tuesday that inflation still isn’t vanquished, and the Fed will do better to ignore the clamoring on Wall Street and Washington for rate cuts. Consumer inflation rose 0.1% for the month, after not rising at all in October. That’s good news overall, but the price index for the last 12 months is still 3.1% higher. This is a huge relief from the 9.1% inflation peak of June 2022, but it remains higher than the Fed’s target of 2%. There’s still work to be done.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. ...
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ADB Raises Growth Forecasts for Asia Despite Continued Headwinds
13Dec By adminNo Comments
World

ADB Raises Growth Forecasts for Asia Despite Continued Headwinds

The economic outlook for Asia seems upbeat despite global challenges, the Asian Development Bank said as it raised growth forecasts for the region.Citing resilient economic activity in the face of persistent headwinds, the Manila-based multilateral bank now expects developing Asia to record growth of 4.9% for 2023. That is up from the 4.7% it had projected in September. It kept its 2024 forecast for the area, which comprises 46 of its members, including China, South Korea and India, at 4.8%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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How Inflation Can Keep Falling
12Dec By adminNo Comments
Money

How Inflation Can Keep Falling

Dec. 12, 2023 11:07 am ETInflation has cooled, but for Federal Reserve policy makers to start talking about cutting rates, it will need to fall even more.Perhaps it will.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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