China’s growth prediction for 2022 has been reduced to three or more. 3 per cent from 5 per cent, because Beijing pursues the zero-COVID strategy which has devastated the tour’s second-largest economy. Chinese authorities are under pressure in order to curb even the smallest virus outbreaks quickly, ahead of aContinue Reading
TOKYO — Punchbowls everywhere are becoming endangered species as central bankers scramble to yank them away with increasing urgency. Nowhere more so than here in Asia.
This metaphor is courtesy of William McChesney Martin, the US Federal Reserve’s longest-serving chairman who held the position from 1951 to 1970. He famously said a monetary authority’s role is that of a “chaperone who has ordered the punchbowl removed just when the party was really warming up.”
Since the 2008 Lehman Brothers crisis, the catchphrase markets most associate with central banks is “whatever it takes.” Mario Draghi, then-president of the European Central Bank, famously uttered these words in July 2012 amid debt-market turmoil on the continent. A year later, Bank of Japan Governor Haruhiko Kuroda would embrace a similar mantra.
Today, officials are racing to do what they can to tame inflation and keep up with current US Federal Reserve Governor Jerome Powell’s tightening cycle.
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(Reuters) – The Merge came, saw and conquered. Not that you’d guess from crypto prices. Read full storyContinue Reading
Following the Russian invasion of Ukraine on February 24, 2022, the United States, the European Union and other countries swiftly imposed a mix of wide-ranging diplomatic and economic sanctions. Russia was excluded from the Council of Europe and voted off the United Nations Human Rights Council. Russian diplomats were expelled by various Western countries. Travel […]
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Nanmadol is one of the worst typhoons ever to strike Japan, with flooding and landslides expected.Continue Reading
SHANGHAI IN CHINA: China is expected to keep lending benchmarks unrevised this week, a poll of market individuals showed, with specialists seen holding off monetary easing within the short-term to avoid a lot more depreciation pressure at the currency. Read full story Continue Reading
BEIJING: Two months since many Chinese homeowners stopped repaying mortgage loans to protest stalled construction on their properties, a lack of progress in more sites today threatens to intensify the boycott, regardless of assurances from authorities. The particular mortgage protest became a rare act associated with public disobedience within China,Continue Reading
As a result, some teenagers prefer to save than splurge. “I used to see two movies every month, but I haven’t stepped inside a movie theater since the pandemic, inch said Fu, a devoted movie fan. Retail sales within China rose simply 2 . 7 per cent year-on-year in ComeContinue Reading
The South Oriental nation was already grappling with high prices, low foreign reserves and high financial debt levels.Continue Reading
There has been no shortage of complaints about economic scams in recent years, ranging from selling non-existent items to promising to double the money pertaining to prospective investors very quickly.Continue Reading