Erdogan Sends Lira to Another Low as he Defies Calls Against Lower Rates
(FT) The Turkish lira traded at above 17 per dollar on Monday as investors digested President Tayyip Erdogan’s comments that he was not turning back on his moves to lower…
China Cuts Benchmark Rate to 3.8%, the First Since April 2020
(PBC) The People’s Bank of China has reduced its one-year loan prime rate from 3.85% to 3.8%, marking the first cut since April last year at the height of the…
Annual Inflation Jumps to 5.2% in the EU in Nov., Settles at 4.9% in the Euro Area
(Eurostat) Annual inflation was recorded at 5.2% in the European Union in November, an increase from 4.4% posted the previous month and significantly higher than 0.2% the prior year. In…
UK Retail Sales Beat Forecasts After 1.4% Jump in November
(ONS) The volume of retail sales in the UK increased by 1.4% in November, higher than the expected gain of 0.8%. Sales volumes in non-food stores increased by 2.0%, led…
IMF Chief Economist Favors Global Policy on Crypto Regulation Over Ban
(CoinTelegraph) International Monetary Fund Chief Economist Gita Gopinath has urged for a global policy on cryptocurrency regulation, rather than totally banning the space. Gopinath believes that a ban on cryptocurrencies…
US Industrial Production Rises 0.5% in November to the Highest in More than 2 Years
(Fed) Industrial production in the US increased by 0.5% in November to an index of 102.3% of the 2017 average, the highest since September 2019. On a year over year…
US Housing Starts Jump 11.8% in November Beating Estimates
(Census Bureau) Housing starts for privately owned units increased by 11.8% in November from October to 1.679 million, higher than the projected 3.1% gain. The housing starts have now risen…
BoE Raises Rates to 0.25%, the First Among Central Banks in the Post-Pandemic Era
(BOE) The Bank of England announced a 0.25% interest rate, an increase from the previous 0.1% and the first among global central banks since the pandemic-induced low rates. The UK's…
Euro Area Posts a €3.6 Billion Trade Surplus in Oct. as EU Plunges into Deficit
(Eurostat) The Euro area recorded a 3.6 billion euros in international trade in goods surplus, down from 29.8 billion euros surplus in the prior year. The Euro area’s exports to…
Lira Breaks Above 15 per Dollar Level as Investors Project Further Rate Cut
(Bloomberg) The Turkish lira fell up to 3.1% against the dollar on Thursday, breaching the psychological barrier of 15 as sentiment was dampened by projected further rate reduction by the…
Eurozone Growth Slumps to a 9-Month Low in Dec. on Fresh Covid-19 Jitters
(IHS Markit) The Eurozone Composite Output Index fell to a nine-month low of 53.4 in December, suggesting slowed activity in the economy. Renewed Covid-19 infections saw the service sector slow…
Fed Turns More Hawkish With Three Rake Hikes in 2022, Quick Tapers
(Federal Reserve) US Federal Reserve says it will raise interest rates three times in 2022 in an aggressive policy move aiming to tame rising inflation. The US central bank also…
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