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Economy

Mexico Inflation Cools, But Services Inflation Keeps Banxico Cautious

Mexico's inflation slowed slightly less than expected in early December, as reported by Bloomberg, with services prices continuing to exert upward pressure. This supports the central bank's cautious approach to interest rate cuts, as seen in their recent decision to lower borrowing costs by a quarter-point

Brazil's Fiscal Woes Plunge Real to Record Low Amidst Investor Fears

A surge of panic in Brazil's financial markets has exposed deep-seated investor anxiety over President Luiz Inácio Lula da Silva's handling of the country's finances, as reported by the Financial Times. The crisis, marked by a record low for the Brazilian real against the

Hedge Funds Bet Big on Dollar-Yen Rise, Pushing Currency Pair Towards 165

Hedge funds are betting big on the dollar-yen's continued rally, with some traders predicting the currency pair could rise as much as 5% in the coming months, reports Bloomberg. This bullish sentiment follows hawkish interest rate decisions by the Federal Reserve and dovish pronouncements by the Bank of

Macron Backs Ethiopia's Debt Restructuring Efforts

French President Emmanuel Macron has expressed his full support for Ethiopia's ongoing debt restructuring efforts, emphasizing the need for a swift resolution "in the coming weeks," according to a joint press conference with Ethiopian Prime Minister Abiy Ahmed reported by Reuters. Macron's statement, made

Colombia Central Bank Slows Rate Cuts Amidst Uncertainty

Colombia's central bank surprised markets on Friday by implementing a smaller-than-expected interest rate cut, opting for a 25 basis point reduction to 9.50%, as reported by Reuters. Analysts had unanimously predicted a 50 basis point cut. This unexpected move reflects the bank's cautious approach in

Canada Retail Sales Stalled in October, Likely Flat in November: Reuters

Canada's retail sales grew by a modest 0.6% in October, with a surge in new car purchases offsetting weaker consumer spending in key sectors like groceries and beverages, as reported by Reuters. However, preliminary data for November suggests retail sales likely remained flat, indicating a potential slowdown

Trump Threatens EU with Tariffs Over Oil and Gas Imports

President-elect Donald Trump has warned the European Union that it must significantly increase purchases of US oil and gas or face tariffs on a wide range of exports, including cars and machinery, reports Reuters. Trump, who takes office on January 20, 2025, issued the ultimatum in a post on Truth

China Lifts Four-Year Ban on Australian Rock Lobster Imports

China has lifted a four-year ban on Australian rock lobster imports, marking a significant step in the ongoing stabilization of relations between the two countries, reports the Wall Street Journal. Australian Prime Minister Anthony Albanese announced Friday that China had notified Australia of the immediate resumption of live rock lobster

UK Retail Sales Growth Stumbles in November Despite Budget Concerns

British retail sales grew at a weaker-than-expected 0.2% in November, according to official data released on Friday by the Office for National Statistics, reports Reuters. This follows a 0.7% drop in October, leading up to Chancellor Rachel Reeves' first budget. Economists had anticipated a 0.5% monthly

Bank of Russia Holds Key Rate Steady Despite Rising Inflation

The Bank of Russia surprised economists by keeping its key interest rate at a record high of 21%, defying expectations of another significant hike to combat persistent inflation, reports Bloomberg. The central bank's decision, announced Friday, comes despite inflation accelerating to 8.9% in November, more than double