The Central Bank of Nigeria (CBN) has once again raised its benchmark interest rate, marking the fourth increase this year. The new rate stands at 26.75%, a decision driven by the urgent need to combat …
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US Economy on Track for Soft Landing, Rate Cuts Imminent: UBS
UBS analysts remain confident in a soft landing for the US economy, with inflation cooling down and the Federal Reserve poised to cut interest rates. The investment bank predicts a near-100% chance of a rate …
Continue readingSingapore Core Inflation Hits 2-Year Low, Signaling Cooling Price Pressures
Singapore’s core inflation rate, excluding volatile items, fell to 2.9% year-on-year in June, its lowest reading in over two years. This figure is lower than economists’ forecasts of 3.0% and marks a significant decrease from …
Continue readingSaudi Arabia’s Growth Stalled by Lower Oil Output: Economists
Saudi Arabia’s economic growth is expected to be one of the slowest among the Gulf Cooperation Council (GCC) countries this year, according to a recent Reuters poll of economists. This sluggish growth is primarily attributed …
Continue readingEurozone Inflation Set to Ease, Could Dip Below 2% by 2026
The European Central Bank’s (ECB) latest Survey of Professional Forecasters predicts that eurozone inflation will continue to slow in the coming years. The survey suggests that inflation could even fall below the ECB’s 2% target …
Continue readingChina Cuts Interest Rates in Surprise Move to Boost Economy
China surprised markets on Monday by cutting both short-term and long-term interest rates, the first broad rate reduction since August 2023. The move signals a proactive approach to stimulate the country’s slowing economy. The cuts, …
Continue readingBrazil Secures G20 Consensus Ahead of Rio Meetings, Avoiding Geopolitical Disputes
Brazil has reached an agreement on consensus documents to be approved at the upcoming G20 finance meetings in Rio de Janeiro next week, according to Mauricio Lyrio, Brazil’s ambassador to the G20. This comes after …
Continue readingBarcelona to Hike Tourist Tax for Cruise Passengers
Barcelona will raise the tourist tax for cruise passengers visiting the city for less than 12 hours, Mayor Jaume Collboni announced. The current tax for stopover cruise passengers is €7 ($7.61) per day. The mayor …
Continue readingUK Finance Minister Hints at Above-Inflation Pay Rises for Public Sector Workers
Britain’s new Finance Minister Rachel Reeves has indicated the possibility of above-inflation pay rises for nearly 2 million government employees, including teachers and NHS staff.This move could be an attempt to avoid crippling public sector …
Continue readingJapan’s Tourism Boom: A Double-Edged Sword of Record Visitors and Overtourism
Japan is experiencing a tourism boom, with record visitor numbers driven by the weak yen and pent-up demand after the pandemic. June saw 3.14 million visitors, exceeding even pre-pandemic levels. This surge is generating significant …
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