The Swiss National Bank (SNB) today (Dec. 15) raised its key interest rate by 0.5 percentage points to 1.0%, the third hike this year. Inflation in Switzerland remains above the SNB’s target range of 0-2%, but is still lower than in other European countries. Switzerland’s inflation held steady at 3% in November, down from 3.5% …
The Philippine central bank (BSP) raised the benchmark interest rate by 0.50% to a 14-year high of 5.50% at its meeting today (Dec. 15), the fastest increase in many years. This latest rate hike was in line with analysts’ forecasts. It’s the third 0.50% rate hike in this cycle of monetary tightening and follows the …
Bank of the Philippines raises the key interest rate by 0.50% to 5.50% Read More »
The People’s Bank of China (PBOC) decided today (Dec. 15) to leave its key interest rate unchanged, suggesting that the PBOC may freeze the lending prime rate (LPR) next week in an effort to revive the economy. The PBOC decided to keep the one-year medium-term lending facility (MLF) rate, China’s benchmark interest rate, at 2.75%. …
The People’s Bank of China today maintained the key interest rate Read More »
The Hong Kong Monetary Authority (HKMA) raised its benchmark interest rate by 0.50% to 4.75% on December 15, completing the seventh rate hike this year after the U.S. Federal Reserve raised rates by 0.50% at its meeting yesterday (December 14). The HKMA has been following its monetary policy in line with the Fed as the …
The Hong Kong Monetary Authority increases interest rates by 0.50% Read More »
Crude oil futures closed higher for the third straight day Wednesday (Dec. 14) after the International Energy Agency (IEA) and oil-exporting countries (OPEC) forecast a recovery in global oil demand in 2023. The IEA forecasts global oil demand to increase by 1.7 million barrels per day in 2023 to 101.6 million barrels per day. This …
Crude oil closes more than 2% up – IEA and OPEC expect demand to recover Read More »
The Asian stock markets closed in positive territory. The decisive factor was the consumer price index (CPI) in the US, which came in lower than expected in November. This increases the likelihood that the Federal Reserve (Fed) will raise interest rates more slowly at its meeting this week. And investors expressed relief about the possibility …
Asian stock markets close higher after U.S. inflation slows ahead of Fed rate decision Read More »
According to the Office for National Statistics (ONS), the U.K. consumer price index (CPI) rose to 10.7% in November, below expectations, as falling fuel prices eased price pressures. But rising food and energy prices continue to weigh on households and businesses. Economists expected the U.K. CPI to come in at 10.9% year-on-year in November, after …
Crude oil futures closed higher for the second consecutive day on Tuesday (Dec. 13) after the U.S. released unexpectedly low inflation data that would encourage the Federal Reserve (Fed) to delay rate hikes. In addition, the market was also supported by the weakening of the dollar. Also reports that the Keystone pipeline remains closed due …
Hong Kong’s Hang Seng closed up 132.57 points or 0.68% at 19,596.20 after Hong Kong announced the easing of COVID-19 control measures. The best performers were Nexion Techn(+204.35%), Scholar Education Group(+84.62%), and Fusen Pharmaceutical(+52.67%). The worst performers were Cornerstone Technologies Holdings-35.19%, K2 F&B HOLDINGS-24.47%, and Goldway Education-20.31%. China’s Shanghai Composite closed down 2.72 points, or …
Asian stocks closed mostly higher ahead of Federal Reserve Meeting Read More »
Crude oil futures closed higher Monday (Dec. 12), driven by expectations that global oil supplies will tighten. The Keystone pipeline remains closed, and Russia is threatening to cut oil production. Canadian TC Energy said in a statement that it is trying to repair the leak on the Keystone pipeline, which remains closed. It cannot yet …
Crude oil rises on expectation of tighter supply after Russia’s warning Read More »