The Czech government backed a proposal to entrench the koruna in the nation’s constitution, potentially setting a political obstacle for future administrations seeking to adopt the European Union’s single currency.
New Century Advisors Chief Economist Claudia Sahm argues that high energy costs could spread into other consumer prices and that tariffs on Canada may rise, creating upside inflation risks that could justify a rate hike in October. She speaks on "Bloomberg Open Interest." (Source: Bloomberg)
UK businesses could face an increase in the minimum wage of more than 5% next year unless Chancellor of the Exchequer John Healey decides to spare them another painful hike, according to estimates ahead of the budget on Wednesday.
Nigerian Finance Minister Taiwo Oyedele unveiled a draft economic policy framework designed to serve as a blueprint for government plans, budgets and policies, regardless of the administration in power.
Pakistan raised its benchmark interest rate on Monday as mounting inflation risks from the Middle East conflict forced policymakers to tighten policy even at the risk of further slowing economic growth.
Kevin Warsh faces a familiar challenge this week if the Federal Reserve holds interest rates steady: He must reassure investors the central bank is committed to quashing inflation while explaining why officials chose not to raise rates.
The European Union is planning to use safeguard measures to cut imports of products from sectors including chemicals, furniture and machinery from China, according to people familiar with the matter.
Bank of England officials are sending their most hawkish signals in over three years, laying the ground for an interest-rate hike as early as next month.
Thailand’s imports surged at the fastest pace on record in September as higher energy costs and an investment boom in artificial intelligence and advanced electronics drove demand for fuel and capital goods.
Australia’s central bank has warned the nation’s A$4.8 trillion ($3.4 trillion) pension industry is facing a fresh set of challenges as millions of people enter retirement over the next decade and funds face cash outflows as people draw down their savings.
UK businesses are hopeful Chancellor of the Exchequer John Healey will cut levies from their electricity bills in his budget after being told that help with energy costs is the government’s top priority for firms, according to industry leaders familiar with the plans.
Early on Oct. 14, just hours before the release of a much-anticipated report on US inflation, TD Securities’ Gennadiy Goldberg recommended that clients bet against a Federal Reserve interest-rate hike later in the month. The logic was that inflation would likely be benign enough to justify a hold. Equally important, a slew of Fed officials had spent days pushing back against expectations for an imminent move.
The Reserve Bank of Australia is “not quite yet” done fighting inflation, said Assistant Governor Sarah Hunter, signaling another rate hike is likely when policymakers meet early next month.
