Inflation, while reduced from its peak in 2022, still remains higher than the desired 2% target set by central banks in developed economies worldwide. This situation is a cause for concern as it indicates sustained high prices for goods and services, resulting in a prolonged wage/price spiral. The process of inflation returning to acceptable levels
admin
Ethiopia’s financial woes continue to deepen as it becomes the third African nation to default on its international government bond in three years. The country failed to make a $33 million “coupon” payment, leading to its formal declaration of default. This default comes on the heels of the immense challenges posed by the COVID-19 pandemic
EUR/USD has displayed resilience as it maintains its gains above the 1.0980 level. The pair has formed a key bullish trend line with support near 1.0980 on the 4-hour chart. This indicates the potential for further upside momentum in the near future. Similarly, GBP/USD has been consolidating gains near the 1.2700 level. The pair has
Bank of Japan Governor Kazuo Ueda is facing criticism for his communication style that has been confusing markets and raising concerns about an imminent exit from ultra-loose monetary policy. Former BOJ board member Takako Masai has expressed her dissatisfaction with Ueda’s comments and the impact they have had on market expectations. Ueda’s remarks in parliament
In a bid to maintain price stability amidst the looming threat of dry weather and rising inflation, Philippine President Ferdinand Marcos Jr. has given his approval for the extension of reduced tariffs on rice and other food items until the end of 2024. This decision comes as a response to the current economic conditions and
The recent proposal of gaming rules by China’s National Press and Publication Administration has sent shockwaves through the gaming industry. While these rules aim to regulate and control game play, it is clear that they may have unintended consequences for smaller developers and the overall online advertising revenue. This article examines the potential impact of
The Bank of Japan (BOJ) Governor Kazuo Ueda stated on Monday that the likelihood of achieving the central bank’s inflation target is gradually increasing. This signals a potential change in policy if the prospects of sustainably achieving the 2% target continue to improve. Ueda’s remarks provide the clearest indication to date on the possibility of
Russia’s central bank, led by Governor Elvira Nabiullina, is cautiously considering interest rate cuts to stimulate economic growth. However, Nabiullina emphasized that the bank would need two to three months of evidence showing a consistent decline in inflation before making any decision. In this article, we will analyze the central bank’s approach, scrutinize its handling
Russia is currently facing a significant labour shortage, with experts and research from the Russian Academy of Science’s Institute of Economics estimating a deficit of around 4.8 million workers in 2023. This shortage is expected to persist in 2024, posing a threat to the country’s economic growth. The depletion of the labour force can be
In a surprising move, the Central Bank of Nigeria (CBN) has lifted the ban on transacting in cryptocurrencies, signaling a significant shift in the country’s approach to digital assets. The ban, which was implemented in February 2021, prohibited banks and financial institutions from dealing in or facilitating transactions in crypto assets due to concerns over
The United States has recently reopened two rail crossings between Texas and Mexico, which were temporarily closed in response to increased migrant traffic. This development comes as new data reveals that the number of migrants encountered at the southern U.S. border remains high. The closures of these rail crossings had significant implications for industries such
OpenAI, a prominent artificial intelligence (AI) research lab, is reportedly in the early stages of discussions to raise a new round of funding at a valuation of $100 billion or higher. This potential funding round, which has yet to be finalized, could have significant implications for the company and the AI industry as a whole.