Latest Economic News

economic news

Whether you are looking for the latest economic news in the United States or abroad, there are plenty of sources to check out. You can find information on how the Federal Reserve’s aggressive interest rate hikes will affect the economy, the impact of China’s consumer price inflation, the latest news on India’s economic performance, and more.

Saudi Arabia extends aid package to Egypt

Despite a rocky relationship in recent months, Saudi Arabia has announced plans to extend its aid package to Egypt. The move comes at a time when Egypt faces economic pressures as a result of the war in Ukraine. A preliminary agreement with the IMF requires the Egyptian government to implement economic reforms.

Saudi Arabia’s decision to extend the aid package comes at a time when the country is looking to boost its foreign exchange reserves. Egypt’s Central Bank met with the heads of the country’s operating banks on Monday to discuss ways to boost the currency‘s supply. The move is aimed at helping Egypt complete a preliminary agreement with the IMF.

Australia raises key interest rate

Despite its strong economy, Australia’s central bank raised its key interest rate for a fifth time in the last six months. The board also flagged that more rate increases were likely in the months ahead.

The cash rate is currently at 2.35%, lower than many other countries’ rates. The rate has been rising for a quarter of a percentage point over the last five months. It is the eighth time the RBA has raised the benchmark interest rate since it was introduced in November 2010.

Governor Philip Lowe told a speech on Friday that inflation would peak at around 7% by year’s end. He said the central bank was determined to get inflation back to its target. The governor said the economy was resilient and that inflation was picking up. However, he also said there were risks to inflation.

Germany inflation slips back slightly

Despite the sluggish economic performance of late, the German economy managed to grow at a healthy 0.4% in the third quarter of the year. In the short term, the benefits of a cheaper energy bill will translate into a better bottom line. In the long term, the savings will be passed on to consumers in the form of lower prices on home appliances and other consumer goods. Despite the aforementioned challenges, the German economy is showing signs of stabilizing, according to a report by the Federal Statistical Office (Destatis).

The biggest challenge facing the German economy is a shortage of natural gas that has forced many households to seek out cheaper alternatives. To ease the pain, the government has put in place a number of relief packages.

China’s consumer price inflation eases more-than-expected in November

Despite the fact that China’s consumer price inflation eased more than expected in November, the country remains at a recessionary level. This is mainly due to plunging domestic demand and plunging exports. The government has stepped up economic stimulus measures lately to boost domestic market consumption.

The Chinese government has also stepped up stimulus measures to help struggling property markets. It has cut benchmark interest rates five times since November. It has also launched more economic stimulus measures lately, including a series of stimulus measures to boost foreign trade.

The People’s Bank of China, which is the country’s central bank, is expected to inject 1.2 trillion yuan into the interbank system next week. This will help support the Chinese economy in the face of headwinds.

Wall Street expects the impact of the Federal Reserve’s most aggressive year of interest rate hikes to continue

Traders were banking on a quarter-point increase in the Federal Reserve’s benchmark lending rate, known as the fed funds rate, at its January meeting. But instead the Fed raised rates three quarters of a point, the largest increase in rates in over a decade.

The Fed has raised its federal funds rate more than three times this year, from near zero to a current level of 3.75%. And it isn’t the only thing the Fed is doing to combat inflation. It’s also hiking interest rates for big-ticket purchases, such as home equity lines of credit, and bank savings yields.

Analysts say it takes at least a year for the full effect of a rate hike to be felt. This is because higher interest rates increase the cost of borrowing, driving up the cost of everything from mortgages to credit cards.

India as a dedicated allocation in their investment portfolios

Pristine India isn’t a fortress of edison phews. A lot of the big names have left the nest, while others have joined the fray. For instance, there is one major financial services provider, a dozen banks, and about a dozen regional and local lenders. One of them, India Overseas Bank (IOB) is the hottest name on the block. Among other things, it has a robust retail arm, which is a first for the bank. The company’s new retail unit, based in Bangalore, has already become a hotbed of innovation. It has a staff of over 4,000. Among other things, it has rolled out a nifty new website to accommodate consumers and a slew of mobile applications.