Category: Economy
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Atlanta Fed President: No Urgency to Reduce Rates Amid Strong Economy
Economy’s Strength and Gradual Inflation Decrease Bostic highlighted the endurance of the U.S. economy, compounding the case for maintaining the current stance on interest rates. Inflation is anticipated to decline progressively over the next six months, reducing the urgency for rate adjustments. As a result, the Federal Reserve can approach the situation cautiously, adhering to […]
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Brazil’s Congress Approves Budget Goal, Raises Debate Over Fiscal Relaxation
Setting the Goal of Eliminating the Primary Deficit by 2024 BRASILIA (Reuters) – Brazil’s Congress completed the approval of the budgetary guidelines bill on Tuesday. The bill includes an important provision allowing for a limited reduction in expenses, even if it means not achieving the fiscal goal. Senators and deputies approved the proposal during a […]
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Mass Protests in Slovakia Against Government’s Fast-Track Criminal Law Changes
Growing Opposition Slovakia, home to 5.4 million people, witnessed the number of protestors surge from 10,000 to an estimated 15,000 to 18,000 individuals, according to the Dennik N news website. The European Commission has cautioned that Slovakia may face consequences if it breaches EU laws, adding to the mounting pressure on the government. Opposition parties […]
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Surge in US Homebuilding Signals Potential Buyer Resurgence Amid Declining Mortgage Rates
Encouraging Future Outlook and Improved Mortgage Rates Furthermore, permits for future construction of single-family homes demonstrated a 0.7% increase, reaching a pace of 976,000 units in November. To add to the optimism, the rate on the widely favored 30-year fixed mortgage averaged 6.95% last week, marking the lowest level since August, down from 7.03% in […]
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Cuban Christmas Blighted by Economic Collapse and Record-Breaking Exodus
Crisis Erodes Cuban Economy Cuba’s economy is on the brink of collapse, burdened by U.S. sanctions, a tourism shortfall, and the enduring aftermath of the pandemic. The consequences are dire, with shortages of fuel, food, and medicine becoming rampant. Public transportation is scarce, and tensions run high. The severity of the situation has triggered a […]
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Japan’s Business Sentiment Improves, Economic Recovery Remains Moderate
Improvement in Business Sentiment, but Overall Economic Assessment Unchanged TOKYO – Japan’s government upgraded its view on business sentiment, signaling a positive shift in corporate mood as profits rise. According to a survey by the central bank, there is a broad recovery in the business outlook. However, the Cabinet Office reported that the overall economic […]
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ECB Raises Capital Requirements to Tackle Non-Performing Loans Amid Economic Slowdown
Ensuring Adequate Provisions for Delinquencies The decision to increase capital requirements for 20 banks stems from the European Central Bank’s commitment to promoting financial stability. By implementing capital “add-ons,” the ECB aims to address concerns regarding insufficient cover for nonperforming loans, commonly referred to as nonperforming exposure (NPE). The ECB’s annual evaluation of the eurozone […]
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Colombia’s Central Bank Faces Decision on Interest Rate Cuts Amid Inflation Concerns
Analysts Predict Split Among Board Members Colombia’s central bank board will convene for its final meeting of the year, faced with the decision of whether to implement cuts to its historically-high interest rate or wait for more information regarding potential inflationary trends. This seven-member board has faced division at its two most recent meetings, and […]
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IMF Reclassifies India’s Exchange Rate Regime, Calls for Greater Reforms and Fiscal Consolidation
Changes in India’s Exchange Rate Regime The International Monetary Fund (IMF) has reclassified India’s exchange rate regime to a “stabilized arrangement” from “floating” for the period of December 2022 to October 2023. This reclassification comes after the IMF’s review of India’s policies, known as the Article IV consultation report. The review considered the Reserve Bank […]
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China Expected to Maintain Lending Rates Despite Weak Economic Momentum
Market Predictions Suggest Unchanged Loan Prime Rate (LPR) According to a recent Reuters survey, China is anticipated to keep its lending benchmark rates unchanged during the monthly fixing on Wednesday. This comes after the People’s Bank of China (PBOC) decided to leave its medium-term policy rate unchanged last week. The loan prime rate (LPR), which […]