A Japanese government spokesman has said the government is considering releasing oil reserves to help curb rising prices. Japan has stocks equal to consumption needs for 242 days. These include direct government reserves, some reserves that are legally required to be maintained by oil companies, and reserves from oil-producing countries, which must be offered to […]
Tag: International financial news
China: Chinese carmakers’ passenger car sales up 6.2% year-on-year in October
Chinese automakers saw their domestic market share rise in October, according to data from the China Automobile Manufacturers Association. Passenger car sales accounted for 47.5% of total passenger car sales last month, up 6.2% year-on-year, according to the same association. Their market share has increased by 0.6 percentage points since September, according to the same […]
Afghanistan: UN warns banking system is collapsing
The United Nations is urging immediate action to strengthen Afghanistan’s banks, warning that an increase in people who are no longer able to repay their loans, lower savings and a lack of liquidity could lead to the collapse of the financial system. some months. In a three-page report on the banking and financial system of […]
Bailey (BoE): There is a risk that inflation will remain high for longer
The Bank of England Governor Andrew Bailey expressed concern about the risk of inflation rising “for a longer period of time”, but said there was a possibility that inflation could be less persistent. The Bank of England (BoE) latest forecast puts inflation at 5% in the second quarter of next year, more than double the […]
US: ‘Window’ by R. Clarida of the Fed to speed up tapering
The possibility of the Federal Reserve already considering at its next meeting in December the increase in the rate of decline in asset markets that began earlier this month was mentioned by Fed Vice President Richard Clarida, in a speech to the Economic Policy Conference for Asia in 2021, organized by the US Federal Reserve […]
Turkey: Lower interest rates, galloping inflation
President Erdogan insists on low interest rates even if the Turkish lyre sinks. Economists criticize the policy of cheap money. The lower the temperatures in Istanbul, the more often the city is shrouded in unprecedented clouds of smoke. Rising energy prices are pushing more and more people to burn wood or coal to heat their […]
Eurostat: In 2020, household consumption in the EU decreased by 8% compared to 2019
Household consumption expenditure in the EU in 2020 recorded an unprecedented decrease, by 8%, compared to 2019, according to Eurostat data released today. According to Eurostat, this decrease is due to the effects of the COVID-19 pandemic and in particular to social distance measures, travel restrictions and non-core economic activities that have seriously affected household […]
Lagarde: The ECB must not react to the current rise in inflation
European Central Bank President Christine Lagarde said on Friday that inflation in the eurozone would weaken, so the ECB should not tighten policy as it could stifle the recovery and hinted that bond purchases would continue next year. Eurozone inflation hit 4.1% in October, driven by higher energy costs and is expected to stay above […]
Reuters: Petrochemicals from Venezuela unloaded in US despite US sanctions
Venezuelan petrochemicals produced by joint ventures between state-owned Pequiven and foreign partners have reached the United States, despite Washington’s efforts to restrict trade with Caracas. According to a Reuters report, at least two shipments of methanol, a widely used industrial product whose prices have soared this year, have been unloaded at Houston ports since October, […]
UBS: 2022 is expected to be a ‘divided year’
UBS, the world’s leading asset management company, is forecasting a year of discovery, which will reveal what the new “normality” now looks like, after two years of both lockdowns and reopening phases. 2022 is expected to be a “split year”, with high rates of economic growth and inflation in the first half, followed by lower […]
