WASHINGTON – Atlanta Federal Reserve President Raphael Bostic said on Sunday he still believes the US central bank can tame inflation without substantial job losses given the economy’s continued momentum. “If you look over history … there is a really good chance that if we have job losses it will be smaller” than in past […]
SINGAPORE – Consumer prices in Singapore continued to climb in August and core inflation hit a near 14-year high, on the back of more costly services and food. Core inflation, which excludes costs of private transport and accommodation and reflects the expenses of Singaporean households more accurately, hit 5.1 per cent year on year, up […]
TOKYO – Japan’s inflation quickened to the fastest pace in more than three decades excluding tax hike distortions, creating headaches for the central bank this week as it seeks to explain why it needs to continue with monetary stimulus when inflation is far above its 2 per cent goal. Consumer prices excluding fresh food rose 2.8 […]
NEW YORK – Wall Street stocks finished modestly higher on Wednesday, regaining some of the ground lost in the prior session, though with the impact of disappointing US inflation data still reverberating through the markets. The benchmark Dow Jones Industrial Average rose 0.1 per cent to finish the session at 31,135.09. The broad-based S&P 500 […]
NEW YORK – Wall Street equities took a beating on Tuesday following disappointing US inflation data, ending the day with steep losses in the worst trading day in weeks. The benchmark Dow Jones Industrial Average plunged nearly 1,300 points, a 3.9 per cent loss to finish the session at 31,104.97. The broad-based S&P 500 dropped […]
NEW YORK (AFP) – Wall Street stocks ended with solid gains Monday (Sept 12), continuing the upswing last week that snapped a three-week losing streak. Investors are looking ahead to a critical release Tuesday on US consumer prices, followed by Thursday’s report on retail sales – the last major data ahead of the Federal Reserve’s […]
SINGAPORE – Deepening its exposure to resilient asset classes such as the logistics and student accommodation sectors has paid dividends for Mapletree Investments amid rising inflation and interest rates, persistent supply chain disruptions and geopolitical instability. The Temasek-linked property developer and manager’s net profit for the financial year ended March 31 jumped 6.2 per cent […]
NEW YORK – The euro slid on Thursday against the US dollar despite a record interest rate hike by the European Central Bank (ECB) as Federal Reserve chief Jerome Powell also signalled a tough approach against inflation. Meanwhile, the pound remained close to a 37-year low against the dollar that was struck on Wednesday, as […]
TOKYO – Japan’s economy grew at a faster clip than initially thought in the three months through June, regaining the ground it lost during the Covid-19 pandemic and indicating greater resilience as it faces downside risks materialising in the global economy. Gross domestic product grew an annualised 3.5 per cent in the second quarter from […]
LONDON – A currency near its lowest in decades, an unprecedented surge in government borrowing costs and record underperformance in domestic stocks – such is the dismal scene in markets that awaits Britain’s next prime minister. The pound, already down nearly 15 per cent this year versus the United States dollar, just posted its worst […]
SINGAPORE – Rising inflation has hit the motor insurance sector but a battle for market share has helped to cushion a rise in premiums, said industry experts. Following AXA Singapore’s exit from the motor insurance business earlier this year, the fight to tap this opportunity to capture new customers has intensified.
SINGAPORE – Private-sector economists shaved their 2022 growth forecast for Singapore, citing the sharper-than-expected surge in inflation and the slowing economies of its trading partners as the key downside risks. The Republic’s economic growth was projected at 3.5 per cent for the full year, according to the quarterly survey of professional forecasters released by the […]
FRANKFURT – Euro-area inflation has accelerated to another all-time high, strengthening the case for the European Central Bank (ECB) to consider a jumbo interest rate hike when it meets next week. Consumer prices in the 19-nation currency bloc jumped 9.1 per cent from a year ago in August, led by energy and food, beating the […]
WASHINGTON (BLOOMBERG) – Global inflation is finally coming off the boil, even if it’s set to remain far too hot for the liking of the world’s central bankers. As economic growth slows, prices for key raw materials – from oil to copper and wheat – have cooled in recent weeks, taking pressure off the cost […]
Singapore’s core inflation last month hit 4.8 per cent, the highest since end-2008. High inflation doesn’t just mean higher prices – you also risk losing your purchasing power if your income fails to keep up with the inflation rate. Investing can be a good way to hedge against inflation. But where to start? What to […]
NEW YORK (AFP) – Stocks slumped on Friday (Aug 26) after Federal Reserve boss Jerome Powell pledged to act “forcefully” against soaring inflation in a battle that will be painful for American families and businesses. The Fed has been on an aggressive campaign to raise interest rates – and Powell made it clear at the […]
NEW YORK (AFP) – Stocks slumped on Friday (Aug 26) after Federal Reserve boss Jerome Powell pledged to act “forcefully” against soaring inflation in a battle that will be painful for American families and businesses. The Fed has been on an aggressive campaign to raise interest rates – and Powell made it clear at the […]
SEOUL (BLOOMBERG) – The Bank of Korea (BOK) raised its key interest rate by a quarter-percentage point on Thursday (Aug 25), returning to its usual pace of tightening as it balances the need to tackle inflation with concerns over economic growth. The central bank increased its seven-day repurchase rate by 25 basis points to 2.5 […]
LONDON (REUTERS, BLOOMBERG) – Economic activity weakened from the United States to Europe to Asia, reinforcing concerns that soaring prices and the war in Ukraine will tip the world into a recession. A myriad of purchasing managers’ surveys published on Tuesday (Aug 23) showed business activity contracting globally and pointed to little hope of a turnaround […]
SINGAPORE – Inflation rates have been climbing globally but they vary widely – from around 2 per cent in some countries to more than 10 per cent in others. Given this wide spectrum, Singapore’s latest headline inflation or headline consumer price index (CPI) of 7 per cent sits somewhere in the middle.