Below-forecast US inflation data prompts bets that the Federal Reserve will slow the pace of hikes, boosting emerging market currencies
The rand featured on the gainers’ list of emerging-market currencies on Wednesday, strengthening by its biggest margin since mid-December 2017 after below-forecast US inflation data prompted bets that the Federal Reserve will slow the pace of interest rate hikes.
Underlying inflation was unchanged last month after advancing 1.3% in June, the US labour department said in a closely watched report. The report shows underlying inflation pressures remain elevated as the Federal Reserve mulls another supersized interest rate hike in September. The reading was the largest month-on-month deceleration of price increases since 1973 and followed a drop of about 20% in the cost of petrol...
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Food inflation eases, but uncertain crops slow wider reliefWhile the outlook for global crops is improving from the tumultuous weeks after Russia’s attack on Ukraine, the threats of drought, flooding and blistering heat are keeping supplies tight and prices elevated.
Read more »
Business Maverick: Food inflation eases, but uncertain crops slow wider reliefWhile the outlook for global crops is improving from the tumultuous weeks after Russia’s attack on Ukraine, the threats of drought, flooding and blistering heat are keeping supplies tight and prices elevated.
Read more »
Most applicants for social relief of distress grants are youngSassa says 930 000 SRD applications were received in July from people under 20; over 2 226 000 from 20-24 year olds; and 3.9 million from 25 to 35 year olds. R350grant grants unemployment
Read more »
Chinese private security firms are growing their presence in Africa: why it matters | The CitizenThese changes reflect the US moving away from being the world’s sheriff.
Read more »
Ukraine war a hot topic during US-SA strategic dialogueThe Russia-Ukraine war was among the issues discussed by US secretary of state Antony Blinken and international relations and co-operation minister Naledi Pandor on Monday.
Read more »