Thai policy tightening to be gradual as recovery slow – chief

BANGKOK, Oct 1 (Reuters) – Thailand’s economy recovery remains intact but slow, so monetary policy tightening should be gradual to ensure a smooth recovery while fighting surging inflation, the central bank chief said on Saturday. Southeast Asia’s second-largest economy is expected to return to its pre-pandemic growth rates late this year or early next, Sethaput … Read more

UK’s Truss: I recognize there has been market disruption

LONDON, Sept 30 (Reuters) – British Prime Minister Liz Truss said on Friday she recognized there had been some financial market disruption following the government’s so-called mini budget and that it was important monetary and fiscal policy are coordinated. Truss has so far argued market turbulence following the announcement of planned tax cuts a week … Read more

US consumer spending rebounds, but high inflation eroding demand

Consumer spending increases 0.4% in August Personal income rises 0.3%; saving rate steady at 3.5% Core PCE price index jumps 0.6%; up 4.9% year-on-year WASHINGTON, Sept 30 (Reuters) – US consumer spending increased more than expected in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing … Read more

Dutch inflation leaps to 17%, boosted by high energy prices

AMSTERDAM, Sept 30 (Reuters) – Inflation in the Netherlands jumped in September to its highest in decades, driven by skyrocketing energy prices, the statistics agency (CBS) said on Friday. Consumer prices, harmonized to be comparable with inflation data from other European Union countries (HICP), rose to 17.1% this month after August’s jump to 13.7%. Energy … Read more

Bank of England won’t make emergency rate hike but will go big on Nov 3

Economists lift peak UK rates forecast after market chaos Median forecast for 75 bps rate hike on Nov 3 BoE intervenes in UK bond markets to restore order LONDON, Sept 30 (Reuters) – The Bank of England won’t raise interest rates before its next scheduled policy announcement on Nov. 3 despite a plunge in sterling … Read more

French inflation unexpectedly pulls back again in September

PARIS, Sept 30 (Reuters) – French inflation slowed unexpectedly for a second month running in September, bucking the trend in neighboring Germany and the wider euro zone, helped by decelerating increases in prices of energy and services, data showed on Friday. The INSEE national statistics agency said France’s EU-harmonised rate of annual inflation fell to … Read more

Fed’s Evans: Market volatility can create restrictiveness

LONDON, Sept 28 (Reuters) – Federal Reserve Bank of Chicago President Charles Evans said on Wednesday that volatility in markets can create additional restrictiveness in financial conditions. Global markets have been whipsawed this week by turmoil in UK markets, already on edge over aggressive rate hikes from the US Federal Reserve and other major central … Read more

Spain’s 12-month inflation slows down to 9.0% in September from 10.5%

Sept 29 (Reuters) – Spain’s consumer prices rose 9.0% year-on-year in September, down from 10.5% in the previous month, preliminary data from the National Statistics Institute (INE) showed on Thursday. The reading was the lowest since May and lower than the 10.1% forecast by analysts polled by Reuters. Core inflation, which strips out volatile fresh … Read more

Australia monthly CPI measure slows slightly to 6.8% y/y in August

SYDNEY, Sept 29 (Reuters) – A new monthly measure of Australian consumer prices on Thursday showed annual inflation eased slightly in August from July thanks to a steep drop in petrol prices, offering hope cost of living pressures might be close to a peak. The data come before the Reserve Bank of Australia’s (RBA) policy … Read more

UK city minister: government not taking responsibility for market chaos

LONDON, Sept 28 (Reuters) – Britain’s city minister Andrew Griffith said on Wednesday that the government was not taking responsibility for the turmoil in financial markets that followed a fiscal policy announcement last week. Asked whether he took responsibility for what was happening in financial markets, he said: “No, we both know that we’re seeing … Read more