Economy

Friday, September 23rd 2022 - 09:16 UTC
BOE hikes basic rate to 2,25%, and admits UK economy is in recession process

The Bank of England hiked its base rate to 2.25% from 1.75% on Thursday, lower than the 0.75 percentage point increase that had been expected by many traders, but cautioned the UK economy was already entering recession since GDP is forecast to contract by 0,1% in the third quarter, following on a 0.1% decline in the second quarter.
Thursday, September 22nd 2022 - 10:12 UTC
With Fed help and warmonger Putin, Super Dollar is stronger than the Euro

The European Union common currency, the Euro sank to a two-decade low of US$0.9810 on Thursday. It came after Russian President Vladimir Putin ordered the partial mobilization of reservists in an escalation of the war in Ukraine and after the Federal Reserve implemented a 75 basis points increase to the interest rate.
Thursday, September 22nd 2022 - 10:01 UTC
With inflation soothing, Brazilian central bank leaves basic Selic interest rate unchanged at 13,75%

Brazil's Central Bank Monetary Policy Committee (Copom) decided on Wednesday to keep its basic Selic interest rate unchanged at 13,75%, putting an end to twelve consecutive increases which took off in 2021 with the purpose of bringing down inflation.
Thursday, September 22nd 2022 - 09:04 UTC
Fed's Powell and the unfortunate costs of reducing inflation: third 75 basis points interest rate hike

Challenged by the highest level of inflation experienced in the US in over 40 years, the Federal Reserve decided on Wednesday a third consecutive interest rate hike of 75 basis points, bringing the benchmark rate up to a range of 3.0% to 3.25% from 2.25% to 2.50%.
Wednesday, September 21st 2022 - 18:57 UTC
Western Uruguayans concerned over Argentina's low prices

Uruguayan mayors along the country's western border have expressed their concern to President Luis Lacalle Pou as the informal exchange rate between the Argentine peso and the US dollar renders local businesses unprofitable since consumers do their shopping across the line.
Wednesday, September 21st 2022 - 09:43 UTC
Falklands and change of monarch: banknotes and coins, and stamps remain legal tender

Following the death of Her Majesty Queen Elizabeth II and the proclamation of King Charles III the Falkland Islands Government would like to reassure the public that all existing notes and coins with the face of Her Majesty will remain legal tender for some time. This will also be the case for all existing stamps.
Tuesday, September 20th 2022 - 10:18 UTC
US Fed and UK BoE expected to hike interest rates this week, but how far?

The United States Federal Reserve and the Bank of England this week are scheduled to hike interest rates steeply again in a bid to tame inflation. The two central banks are expected to look through recession fears and continue their fight against extraordinary price rises.
Tuesday, September 20th 2022 - 09:36 UTC
Key trade deal between Brazil, US signed

The governments of Brazil and the United States have signed a customs recognition agreement whereby companies from the South American country certified as authorized economic operators (AEO) will be able to export faster and with less red tape involved.
Tuesday, September 20th 2022 - 09:15 UTC
German recession forecasted to begin in the last quarter, Bundesbank report

“The signs of a recession of the German economy are multiplying,” reads the monthly report from the country's central bank, Bundesbank, adding “a slump that could last into next year”.
Monday, September 19th 2022 - 09:28 UTC
US, China, India, UK, Russia, the largest military spenders in 2021, SIPRI report

World military spending continued to grow in 2021, reaching an all-time high of US$ 2.1 trillion. This was the seventh consecutive year that spending increased, according to the latest data on military spending published by the Stockholm International Peace Research Institute (SIPRI).