King Dollar is facing a revolt. Tired of a too-strong and newly weaponised greenback, some of the world’s biggest economies are exploring ways to circumvent the US currency. Smaller nations, including at least a dozen in Asia, are also experimenting with de-dollarisation. And corporates around the world are selling an unprecedented portion of their debt […]
By Philip Aldrick The world faces a recession in 2023 higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research. The global economy surpassed $100 trillion for the first time in 2022 but will stall in 2023 as policy makers continue their fight […]
The steepest series of interest rate increases in Colombia is nearing an end as inflation is expected to slow sharply with the economy set for a hard landing next year, the country’s central bank chief said. Policymakers have responded to the highest inflation in more than two decades — due mainly to international factors — […]
ECONOMYNEXT – Sri Lanka is mulling the continuation of an autarky or giving back economic freedom stolen from the people during monetary instability in 2020, according to a statement by the island’s state minister for finance Ranjith Siyambalapitiya. Sri Lanka had to decide whether to rise as nation by limiting imports of items like coconut […]
Month-on-month inflation reached its peak in June 2022 at 30,7%. Since then, it has been gradually declining. In November 2022, month-on-month inflation was recorded at 1,8% shedding 1,4 percentage points on the October rate of 3,2%. This generally shows that month-on-month inflation is now under control. At 1,8%, the month-on-month inflation rate for Zimbabwe is […]
The Dow fell as the U.S. economy grew much faster than initially expected in the third quarter, a sign that the Federal Reserve’s fight to cool the economy in its fight against inflation has limited impact. GDP, the biggest measure of the economy of the US, grew between July and September at an annual rate […]
But other countries are already expressing their concern, including the US. At a press conference on Thursday, Secretary of State Antony Blinken told journalists there were “clear implications for the global economy”. “On all of those levels – a basic humanitarian level, the concern for everyone’s health, as well as for the global economy – […]
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Bitcoin prices have shown significant stability today. (Photo by Chesnot/Getty Images) Getty Images Bitcoin prices have shown little volatility today, fluctuating within a reasonably defined range as global markets process the latest key economic data. The world’s most prominent digital currency reached as much as $16,916.70 this morning, CoinDesk data shows. The cryptocurrency, which had […]
The rupee declined by 7 paise to close at 82.86 (provisional) against the US dollar on Friday due to firm crude oil prices and steep losses in domestic stocks amid growing concerns about interest rate hikes. A weak greenback in the global markets restricted the local unit’s losses, forex dealers said. At the interbank foreign […]
