Tag: Inflation

Thailand , May 10, 2024 Thailand is witnessing a worrying rise in credit card delinquency rates, reaching the highest levels in five years. According to...

Philippines , April 10, 2025 The Bangko Sentral ng Pilipinas (BSP) raised interest rates once again this week, increasing the benchmark rate by 25 basis...

9 June 2023, Islamabad, Pakistan The Pakistan Economic Survey 2022/23 highlights the challenges faced by Pakistan's economy and the growth experienced during the fiscal year....

The US Economy is on the brink of recession, brought on by a reckless spending policy of the Biden Administration. Notable figures like Bank of America CEO Brian Moynihan and Federal Reserve Chairman Jerome Powell have voiced their concerns.

Major US bank leaders like Jamie Dimon predict economic challenges ahead, citing inflation's impact on consumer purchasing power. With pandemic savings expected to deplete by mid-2023 and potential interest rate stabilization, banks are preparing for a potential mild to hard recession next year.

OPEC+ countries preserve production cuts ahead of EU Russian crude ban, while China's relaxing Covid measures signal potential increased fuel demand. Global oil benchmarks WTI and Brent show positive momentum, reflecting market optimism about future energy consumption.

OPEC+ and allied oil producers, including Russia, have slightly reduced their oil output for October, a modest 100,000 barrel per day decrease. This symbolic cut comes amid growing recession fears and falling crude prices, which have already dropped from June's $120 per barrel peak.

Indonesia hikes subsidized fuel prices by 30%, with Pertalite gasoline rising from 51 to 67 cents per liter. Long lines at gas stations as motorists rush to fill tanks before price increase takes effect. President Joko Widodo cites economic necessity for subsidy reduction.

Asian stock markets show mixed performance ahead of crucial US employment data. Investors are closely watching August job figures that could influence Federal Reserve's monetary policy and interest rate strategy amid high inflation concerns. Shanghai and Seoul saw gains, while Tokyo and Hong Kong experienced declines.

President Joe Biden traveled to Iowa to announce a strategy for reducing gas prices by temporarily suspending ethanol blending restrictions. The move aims to cut fuel costs by approximately 10 cents per gallon at select stations, addressing high inflation challenges facing American consumers.