Economy
Japan's wholesale inflation spikes in July, raising rate‑hike odds
July wholesale price inflation in Japan surged, boosting expectations that the Bank of Japan may move toward a rate increase.
Egypt’s central bank holds key rates steady at 19%, 20%
The Monetary Policy Committee maintained overnight deposit and lending rates as inflation pressures remain elevated in the North African economy.
Egypt’s central bank leaves key rates at 19-20% as inflation cools
Monetary policy committee holds overnight deposit and lending rates steady amid easing price pressures. Decision follows July inflation slowdown to 33.6% year-on-year.
U.S. accused of interest-rate manipulation after doubling bond buybacks
Criticism of the Swiss National Bank’s currency interventions highlights parallels with Washington’s bond-market interventions, which similarly distort market pricing. Analysis of policy overlap and unintended consequences.
US weekly jobless claims fall to 206,000, below forecasts
Initial unemployment claims declined by 6,000 to 206,000 in the week ended Aug. 15, while continuing claims rose to 1.799 million. The labor market remains tight with the jobless rate at 4.1%.
India’s infrastructure output growth slows to 5.4% in July
India’s infrastructure output rose 5.4% year-on-year in July, down from 6% in June, as iron ore and electricity production moderated. The expansion reflects a revised series with 2022-23 as the base year.
Fed’s Daly says Treasury actions not yet a focus amid inflation mandate
San Francisco Fed President Mary Daly signals the central bank remains concentrated on its 2% inflation target, downplaying immediate impact of Treasury’s debt management steps.
IMF hails Lebanon bank law changes as ‘major step’ amid crisis
Parliament passes amendments to bank resolution framework, meeting 99% of IMF demands, but president’s approval and Constitutional Council review still pending.
Fed’s Daly says bond market reflects well-positioned policy stance
Federal Reserve Bank of San Francisco President Mary Daly cites Treasury market signals as evidence that current monetary policy is appropriately calibrated, while dismissing urgency for preemptive rate adjustments.
Canada industrial prices rise 0.6% in July on energy gains
Industrial producer prices increased for the first time in two months, led by energy and petroleum products, while core measures excluding energy softened. Annual gain remains elevated at 12.4%.
G7 government debt pressures mount as borrowing costs surge
U.S. debt tops $40 trillion while Japanese and German yields hit multi-decade highs. OECD interest payments overtake defense spending.
UK statistics office raises 2023 and 2024 growth estimates
The UK's official statistics body has upwardly revised its estimates for economic growth in 2023 and 2024.
Nigeria’s reforms averted economic collapse, finance minister says
Subsidy cuts and currency devaluation generated $11.7bn in savings while shrinking the official-parallel FX gap to under 5%.
Japan’s bond rout threatens fiscal plans as 10-year yield nears 3%
Surge in JGB yields to three-decade highs risks derailing Japan’s fiscal strategy, with debt-servicing costs projected to rise by over 30% by fiscal 2029. Policy makers face limited options amid persistent inflation pressures.
U.S. Treasury expands buybacks as long-dated yields retreat from 19-year highs
Expanded liquidity operations target 10-30 year Treasuries as 30-year yield drops 14 bps from peak. Policy shift follows two-day global bond rout.
UK inflation rises to 2.9% in July, exceeding BoE target
Consumer prices climb 2.9% year-on-year, up from 2.6% in June, driven by housing and household services costs. Core inflation remains steady at 2.6%.
ECB's Lagarde warns Europe's post-war growth model is eroding
ECB President Christine Lagarde highlights the weakening of Europe's three historical growth pillars—global trade, mid-tech manufacturing, and a stable rules-based order—while outlining domestic resilience and policy responses.
Swiss industrial output rises 5.5% in Q2, reversing Q1 slump
Switzerland’s manufacturing sector rebounds with a 5.5% year-on-year increase in Q2, while industrial sales fall 0.3%. Construction excluded from data.
China set to hold loan prime rates steady in August amid weak economy
All 25 surveyed banks expect the one-year and five-year loan prime rates to remain at 3.00% and 3.50%, respectively, as policymakers prioritize fiscal measures over monetary easing.
Slovakia’s July inflation slows to 3.2% y/y from 3.5%
Slovak consumer prices rose 0.1% month-on-month in July, while annual inflation eased to 3.2% from 3.6% in June, defying expectations for a monthly decline.
ECB’s Rehn says wage growth stays moderate, inflation risks limited
Finland’s central bank chief cites anchored expectations as key to preventing second-round effects amid steady wage trends.
UK CPI accelerates to 2.9% on energy costs, matching forecasts
Headline inflation rose to a four-month high as Ofgem's energy price cap reset lifted household bills by £221. Analysts see limited second-round effects but warn of further upside.
UK inflation rises to 2.9% in July on higher gas costs; oil climbs after Iran ceasefire lapse
Consumer prices increased more than expected as gas bills surged 14.7%, while Brent crude approached $92 a barrel amid renewed Middle East supply risks. Bank of England policy outlook hinges on jobs data.
UK inflation rises to 2.9% in July, energy costs lift pace
Consumer prices increased as household energy bills surged following Ofgem’s 13% price cap hike. Economists had broadly anticipated the pickup.
RBI flags inflation risks, leaves door open to future rate hikes
India's central bank maintained its policy rate at 5.25% but warned that rising oil prices and broadening price pressures could require tighter policy. Policy stance remains neutral.