As President Boluarte addressed Congress on Peru’s independence day, she expressed optimism about the country’s economic future. Despite facing allegations of corruption and abuse of power, Boluarte highlighted her plans to call for elections in 2026 by next April. Taking office after the ouster of her predecessor, Pedro Castillo, Boluarte faced challenges with protests and
Some economists are suggesting that implementing quantitative tightening (QT) could potentially strengthen the Yen in a more sustainable manner. The plan by the Bank of Japan (BoJ) to announce cuts to purchases of Japanese Government Bonds (JGB) in July is seen as a move that could reduce interest rate differentials with the US dollar, ultimately
The Chief Economist of the Bank of England (BoE), Huw Pill, recently conveyed a hawkish tone, expressing concerns about the strength of services inflation and wage growth. This indicates a level of discomfort in the current economic conditions. Additionally, Jonathan Haskel, an external member of the Monetary Policy Committee (MPC), highlighted a higher-for-longer stance due
Analyzing the recent economic indicators for Australia, there seems to be a mixed outlook regarding the future of producer prices in the country. While some experts predict a potential interest rate hike by the Reserve Bank of Australia (RBA) in August, others forecast a rate cut later in the year. This uncertainty has been fueled
Central banking, often stereotyped as a dull and monotonous field, has recently sparked a debate on its excitement factor. Departing Swiss National Bank Chairman Thomas Jordan challenges this perception, emphasizing that the role of a central banker is far from boring. In an interview with the Bieler Tagblatt, Jordan defended his tenure at the central
Recently, six major banks, including Bank of America and Citigroup, reached a settlement agreement to pay $80 million to resolve antitrust litigation in New York. The lawsuit alleged that these financial institutions conspired to manipulate the prices of European government bonds between 2007 and 2012. The accused banks, which also include Jefferies, NatWest, Nomura, and
China’s industrial profits saw a 3.6% year-on-year rise in June, following a 0.7% gain in May, according to official data released by the National Bureau of Statistics (NBS). The first-half earnings increased by 3.5%, accelerating from a 3.4% rise in the January-May period. NBS statistician Wei Ning attributed this growth to relatively rapid industrial production
As investors nervously await the upcoming earnings reports from major tech giants such as Microsoft, Apple, Amazon.com, and Meta Platforms, there is a palpable sense of unease in the stock market. The recent downturn in the massive tech stocks that have been driving the market’s rally over the past few months has left many questioning
Russia’s central bank recently made an unprecedented decision to raise its key interest rate by 200 basis points to 18%. This move was an attempt to combat high inflation and an overheated economy, pushing the cost of borrowing to its highest level in over two years. The market had been anticipating this hike, according to
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As Wall Street prepares to end a challenging week, all eyes are on the Federal Reserve’s preferred gauge of inflation. This key indicator could potentially influence market sentiment and test the expectations surrounding a potential interest rate cut by the U.S. central bank in September. The June personal consumption expenditures (PCE) price index is projected
As investors navigate through the financial markets, they find themselves in a state of caution. The upcoming economic data releases, including the Personal Consumption Expenditures (PCE) Price Index, Personal Income, Personal Spending, and revisions to the Consumer Sentiment Index, are scrutinized for any insights they may provide. Additionally, the recent Gross Domestic Product (GDP) data,