President Luiz Inácio Lula da Silva’s government is preparing additional budget measures to improve fiscal results next year, stepping up efforts to shore up public finances amid investor concerns about rising public debt, according to a person familiar with the discussions.
Ghana’s Finance Minister Cassiel Ato Forson outlined plans to spend $10 billion over the next four years to lift economic growth to 8%, and repay some debt due next year ahead of schedule.
Argentina’s inflation ticked up slightly in October on the heels of September’s pick-up, pointing to sticky price pressures that pose a challenge for President Javier Milei ahead of next year’s election.
Federal Reserve Bank of San Francisco President Mary Daly said further interest-rate increases will likely be needed to bring down inflation, adding that businesses are increasingly contemplating raising prices.
Germany denied a report in Le Point that German Chancellor Friedrich Merz and French President Emmanuel Macron have agreed that Pablo Hernandez de Cos should take over the European Central Bank presidency from Christine Lagarde next year.
US previously owned home sales fell last month to a 16-year low as a cascade of negative news on mortgage rates and inflation deterred would-be buyers.
Federal Reserve Bank of Cleveland President Beth Hammack reiterated her view that higher interest rates are needed to combat inflation amid demand pressures driven by investments into artificial intelligence.
Brazil’s annual inflation rate rose further above target last month, though by less than forecast, adding to concerns over the government’s economic strategy and widening budget gap.
Serbia unexpectedly raised interest rates for the first time in more than three years, responding to global inflation risks and depreciation pressures on the dinar following last month’s election.
Sri Lanka’s President Anura Kumara Dissanayake pledged measures to boost industrial output, exports and investment as he unveiled the 2027 budget aimed at accelerating a fragile economic recovery, while navigating global headwinds and the approaching end of its $3 billion International Monetary Fund bailout.
For all its bluster about spending cuts, Chile’s market-friendly government lacks ambition when it comes to controlling a debt load that has doubled in the past decade, according to economists in a panel hosted by Bloomberg News.
India’s inflation accelerated to its highest level in two years in October, breaching the top of the Reserve Bank’s 2%-6% tolerance band and adding pressure on policymakers to raise interest rates further.
Peru’s central bank is expected to lift interest rates Thursday for the first time in more than three years after inflation jumped higher above target last month.
Kazakhstan’s security service detained the heads of its sovereign wealth fund and national railway operator, which is planning an initial public offering in London and Hong Kong, most likely delaying the deal.
Turkey’s central bank raised its inflation forecasts through the end of next year, citing ongoing pressures from the Iran war and market volatility caused by a major national fund scandal.
The decline of a popular wager involving the Swiss franc is adding fuel to the currency’s advance, prompting speculation about how far the nation’s central bank will let it appreciate.
The UK economy grew at its fastest pace in two and a half years, after the rollout of artificial intelligence fueled spending by businesses and consumers continued to weather the energy shock caused by the Iran war.
