BRASILIA, June 17 — Brazil’s central bank raised its benchmark interest rate by 75 basis points Wednesday, continuing to wind down its pandemic stimulus stance in the face of rising inflation in Latin America’s biggest economy.
The committee said in a statement it expected “another adjustment of the same magnitude” or more at its next meeting, scheduled for August.The central bank is increasingly worried over rising prices, which it has indicated it sees as a bigger threat to the economy than a new slowdown due to Covid-19, even though the latter is still raging in Brazil.
That has policy makers looking more nervous over inflation than growth as they navigate the traditional trade-off between the two. Inflation is being fuelled by the worst drought in nearly a century in Brazil’s southeast and central-west, which has sapped the hydroelectric dams the country relies on for nearly two-thirds of its electricity capacity, causing energy prices to surge.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brazil to buy single-shot Chinese Covid-19 vaccine | Malay MailBRASILIA, June 16 ― Brazil plans to buy 60 million doses of the single-shot Covid-19 vaccine developed by China's CanSino Biologics for delivery in the third and fourth quarters of this year, according to a negotiation document reviewed by Reuters. A ministry official signed a letter of intent on...
Source: malaymail - 🏆 1. / 86 Read more »
Malay Rulers decree that Emergency need not be extended beyond August 1 | Malay MailKUALA LUMPUR, June 16 — The Yang di-Pertuan Agong and the Conference of Rulers have said today that there is no need for the ongoing State of Emergency to be extended past its original end date of August 1. Keeper of the Rulers’ Seal Tan Sri Syed Danial Syed Ahmad said in a statement that this...
Source: malaymail - 🏆 1. / 86 Read more »
US Fed downplays inflation fears, officials see rate hikes in 2023 | Malay MailWASHINGTON, June 17 — Federal Reserve Chair Jerome Powell on Wednesday once again tried to assuage fears of rising US inflation, even while a majority of central bank officials now believe interest rates will increase in 2023. While widespread vaccinations have allowed the United States to...
Source: malaymail - 🏆 1. / 86 Read more »
White House: Earlier Fed rate hikes will not jack up low projected borrowing costs | Malay MailWASHINGTON, June 17 — The White House on Wednesday said it did not expect the Federal Reserve’s projections for earlier post-pandemic interest rate hikes to significantly alter its own forecasts for longer-term rates and the cost of borrowing to fund planned investments. A White House official...
Source: malaymail - 🏆 1. / 86 Read more »
Bursa Malaysia ends lower on profit taking | Malay MailKUALA LUMPUR, June 16 — Bursa Malaysia closed lower today as profit-taking emerged in industrial products and services as well as healthcare counters, and in line with the downtrend in regional markets, dealer said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 3.05 points to... Slumberous..
Source: malaymail - 🏆 1. / 86 Read more »
US IPOs hit annual record in less than six months | Malay MailNEW YORK, June 16 — Wall Street’s record-breaking run for stock market flotations shows no signs of slowing down. With more than six months until the year ends, US initial public offerings have already totalled US$171 billion (RM704 billion), eclipsing the 2020 record of US$168 billion,...
Source: malaymail - 🏆 1. / 86 Read more »