Wednesday, 12 Aug 2020 10:08 PM MYT
The report from the Labor Department today probably does not mark the start of a troubling rise in inflation, and the Federal Reserve is likely to continue pumping money into the economy to aid the recovery from the Covid-19 recession. Economists polled by Reuters had forecast the CPI would rise 0.3 per cent in July and gain 0.8 per cent on a year-on-year basis.
But the budding recovery from the pandemic is showing signs of stress as new coronavirus infections spiral across the United States, forcing authorities in some of the hot spots to either shut down businesses again or pause reopenings. Stocks on Wall Street opened higher with the S&P 500 index edging toward a record high as a sharp fall in US oil stockpiles drove up prices. The dollar fell against a basket of currencies. US Treasury prices were trading mostly lower.Gasoline prices advanced 5.6 per cent in July after jumping 12.3 per cent in June. Food prices fell 0.4 per cent, the first decrease since April 2019, after rising 0.6 per cent in June.
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US dollar buoyed by jump in US bond yields | Malay MailSINGAPORE, Aug 12 — The dollar found support today, as a jump in US yields pushed it higher against the Japanese yen and investors wagered on a broader and deeper US coronavirus recovery. The yield on 10-year US debt, which rises when bond prices fall, made its steepest gain in two months...
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Tengku Zafrul: Moratorium on loan repayments estimated at RM66b as of end-July | Malay MailKUALA LUMPUR, Aug 11 — The moratorium on loan repayments extended by financial institutions, which came into effect on April 1, is estimated to be worth RM66.6 billion as of July 31, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said RM23.3 billion of this...
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MAHB: Passenger traffic up over threefold in July | Malay MailKUALA LUMPUR, Aug 11 — Total passenger numbers at Malaysian airports increased more than three-fold to 1.3 million with aircraft movements doubling to 22,600 in July 2020, according to Malaysia Airports Holdings Bhd (MAHB). In a statement, the airport operator attributed this...
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Socso approved almost RM9b in wage subsidies as of July 31, says finance minister | Malay MailKUALA LUMPUR, Aug 11 — The Social Security Organisation (Socso) has approved RM8.99 billion under the wage subsidy programme as of July 31, 2020 benefiting over 2.6 million workers, says Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said the wage subsidy...
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