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Economy

Turkey Raises Inflation Forecasts, Aligning With Market Expectations

Turkey's central bank has revised its inflation forecasts for 2024 and 2025 upwards, bringing them closer to market expectations, reports Bloomberg. This move follows two consecutive months of price gains exceeding initial estimates. Officials now project inflation to reach 44% at the end of this year and 21%

China Unveils $837 Billion Debt Swap to Tackle Local Government Risks

China is taking a major step to address the growing risk posed by local government debt, announcing a plan to swap 6 trillion yuan ($837.7 billion) in off-balance sheet or "hidden" debt for bonds over the next three years, reports Reuters. The move comes as China'

Fed Cuts Rates But Trump's Re-Election Casts Shadow Over Future Policy

The Federal Reserve on Thursday lowered interest rates by a quarter percentage point, marking the second consecutive rate cut as the central bank continues to support the US economy. However, the re-election of Donald Trump, known for his criticism of the Fed and his potential to influence monetary policy, has

Japan's Wage Growth Strengthens Case for BOJ Rate Hike

Japanese workers' base salaries saw their largest increase in over three decades in September, bolstering the Bank of Japan's (BOJ) view that the economy is on a recovery path and supporting the case for a rate hike in the coming months, reports Bloomberg. The pace of gains

Bank of England Cuts Rates, But Sees Higher Inflation After Budget

The Bank of England (BoE) cut interest rates on Thursday for only the second time since 2020, but signaled that future reductions would be gradual, citing the impact of the new government's first budget, reports Reuters. The Monetary Policy Committee voted 8-1 to lower rates to 4.75%

UK Gilt Yields Rise as Government Hints at Fiscal Rule Changes

The UK government's borrowing costs have risen on global financial markets, following news that Chancellor Rachel Reeves is considering changes to Britain's debt rules, reports The Guardian. Reeves, ahead of next week's budget, is expected to announce at the International Monetary Fund's

China's Stock Rally May Have Legs, Says Goldman Sachs

Chinese stocks are showing signs of life again after a volatile year, and this time, the rally may have staying power, according to a note published by Goldman Sachs. Despite recent gains fading after a September surge, the bank suggests that several factors point to further upside potential in Chinese

Chinese Think Tank Floats $280 Billion Stock Market Stabilization Fund

A prominent Chinese policy think tank has recommended the establishment of a massive 2 trillion yuan ($280 billion) stock market stabilization fund to be financed by special treasury bonds, reports Reuters. The proposal, outlined in a quarterly economic report by the Institute of Finance & Banking, affiliated with the prestigious

ECB Policymakers Shift Focus to Inflation Undershoot Risk

In a noticeable shift in tone, European Central Bank (ECB) policymakers are increasingly expressing concern over the risk of inflation falling below their 2% target, reports Reuters. This comes after years of grappling with excessively high inflation. While eurozone inflation dipped to 1.7% last month and is projected to

Investors Shun China in Emerging Markets, Embrace 'Ex China' Funds

A growing wave of investors are turning their backs on China within the emerging markets landscape, opting for funds that exclude the world's second-largest economy, reports the Financial Times. This shift, fueled by concerns over escalating geopolitical tensions and the potential for sanctions, marks a significant change in