Eurozone inflation reached 2 per cent in October, in line with the European Central Bank’s target and strengthening the argument for a smaller quarter-point rate cut in December. The annual figure from Eurostat, the EU’s statistics agency, slightly exceeded analysts’ expectations of 1.9 per cent. Last month, the inflation rate was at 1.7 per cent, … Read more
“ BANGKOK (Reuters) – Thailand’s Finance Minister Pichai Chunhavajira stated on Tuesday that the country’s inflation target should be set higher than 1%, as he prepared to meet with the central bank governor to negotiate a new target range. Pichai and Bank of Thailand (BOT) Governor Sethaput Suthiwartnarueput, along with other officials, are scheduled to … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favorite stories in this weekly newsletter. UK chancellor Rachel Reeves has announced plans to raise rents for social housing by more than inflation over the next five or 10 years while also providing an immediate £500mn cash injection for housing associations … Read more
Russia raised its key interest rate by 200 basis points to 21% on Friday, citing consumer price increases considerably above its forecast and warning of ongoing high inflation risks in the medium term. This move exceeded the 100 basis-point hike that analysts had expected, bringing the institution’s benchmark rate to its highest level since February … Read more
On interest rates: We have a symmetric approach to our inflation target, and we need to ensure that inflation returns to our target in a sustainable manner. We need to be data dependent and assess the risks to our outlook. The recent data on inflation has been lower than expected, so we need to consider … Read more
At the same time, personal savings rates have dropped as consumers dip into their reserves to keep up with higher prices. The savings rate was 6.9% in September, down from a pandemic peak of 33.8% in April 2020. Businesses, too, have been feeling the pinch. The Producer Price Index, a measure of wholesale inflation, increased … Read more