Uncategorized

The Bank of Canada on Wednesday announced its widely expected decision to increase policy interest rates by 75 basis points. The Canadian central bank raised its target for the overnight rate to 3.25 percent, with the Bank Rate at 3.50 percent and the deposit rate at 3.25 percent. The bank also said it is continuing its policy of quantitative tightening.

more...

Australia's gross domestic product added 3.6 percent on year in the second quarter of 2022, the Australian Bureau of Statistics said on Wednesday.

more...

The Reserve Bank of Australia raised its key interest rates by a half-percentage point on Tuesday to bring inflation back to the target and create a more sustainable balance of demand and supply in the Australian economy. The policy board of the RBA, headed by Governor Philip Lowe, decided to lift the cash rate target by 50 basis points to 2.35 percent, the highest since late 2014.

more...

China's services companies continued to recover in August from the recent wave of the pandemic underpinned by strong sales, survey results from S&P Global showed on Monday. The Caixin services Purchasing Managers' Index came in at 55.0, down from 55.5 in July. A score above 50.0 indicates expansion. Moreover, the rate of expansion was the second-quickest recorded since May 2021.

more...

The services sector fell into contraction territory in August, the latest survey from Jibun Bank revealed on Monday with a services PMI score of 49.5.

more...