Appointment of the new prime minister and cabinet has been held up by opposition protests, but these may help ensure longer-term political stability by preventing a divisive choice of parliamentary speaker. While unlikely to split the three-way 'Orange' party alliance, the Regions Party - numerically the biggest - has shown its ability to block policies and appointments it regards as too extreme. The Q2 pick-up in growth was accompanied by a deterioration in the trade balance, but inward investment flows have helped keep the UAH exchange rate stable and foreign reserves on an upward path. Freezing of gas import prices to the end of Q3 gives the government more time to settle in and form a negotiating strategy, and the recent price threat to Russia from Turkmenistan could be worked to Uk...
THE match was over after just seven minutes. That might suggest the whole endeavour was not quite value for money for those that squeezed into the DW Stadium for these clubs' opening match of the season, but at least it allowed ample time to marvel at Eden Hazard. Carrying the weight of a pound(s)32m price tag, the Belgian was Chelsea's most expensive import of the summer. He may yet prove to be their most important of the season; the former Lille forward playing a part in both of Chelsea's two goals inside the opening 10 minutes.
There has been a general trimming of GDP growth forecasts by a range of official bodies over the last few weeks, essentially because they expect domestic consumption and investment to slow. Buoyant exports delivered stronger than expected GDP growth in H1, so even though the BOK for instance has trimmed its H2 forecast its overall forecast of 5% GDP growth this year is unchanged. The Korea Development Institute did trim its forecast slightly but it remains a touch higher than the BOK at 5.1%. This is also what the finance ministry expects. The new finance minister Kwon O-kyu has said that the government does not see the need for a fiscal boost to lift growth. The BOK meanwhile, though it held interest rates steady in July, is widely expected to raise rates one more time this year to fen...
... "rising global interest rates, high oil prices and a sluggish domestic labour market" posed a thr...With goods imports seen rising 12.7% as against the 11.7% forecast in...
EVERTON are pondering a move for another cut-price Irish import in the mould of Seamus Coleman - and have made sure they will not regret allowing youngster James Wallace to leave for Tranmere Rovers. England under-20 international midfielder Wallace completed a permanent switch to Prenton Park yesterday for an undisclosed fee, although the Toffees insisted on a sizeable sell-on clause.
The BOK kept interest rates unchanged last week not so much because inflationary pressures appear mild for the moment but because it is concerned about growth prospects in the face of high oil prices and the strong KRW, which set an eight and a half year high against the USD last week. Fears for export growth may well prompt fresh intervention in a bid to constrain the KRW, though with a near 9% rise already this year the efficacy of such action may be questioned and it sometimes appears that the main result is simply to boost foreign reserves. The strong KRW is itself helping hold down inflation by countering import price inflation but there is in any case little evidence of inflationary pressure in the economy apart from the continued price rises in the property market. BOK governor L...
Surging oil prices, as well as higher costs of imported equipment, caused raw material costs to increase by their highest annual rate in over 20 years in the year to July. National Statistics revealed that input prices, on a seasonally adjusted basis, rose by 13.4 per cent in July from a year earlier, up from a rise of 12.5 per cent in June and well above analysts' expectations.
As expected, the central bank left its main interest rates unchanged at its 5 April meeting. However, governor Burhanuddin Abdullah sprang a surprise by indicating that there might be an earlier than expected end to the regime of high interest rates introduced to curtail inflation after fuel prices soared. In part, this reflects a degree of increased confidence on the trend in inflation as strong capital inflows have driven up the IDR, with a 9.3% gain so far this year, reducing import price pressure. March inflation was a lower than expected 15.7% year-on-year, the lowest rate in six months. A fall on the month in food prices helped drag the headline rate lower but inflation does appear to be easing as indicated by a fresh fall in the core rate. There is now some thought that rather th...
IT is impossible not to be aware of the way food prices have jumped in recent months, caused mainly by the increase in world demand for grain as our planet's population continues to boom. But much of the price increase is also because we are having to import more and more of our food. And remember that price increases also contribute to rises in inflation.
Bank Negara kept its main interest rate steady at 3.50% at its 22 May policy meeting, citing limited demand-led price pressures or oil price knock-on effects. It wants to gauge the effect of the previous three hikes. The markets had been evenly split in their expectations on rates but may well now expect a hike in July. The bank's decision was aided slightly by the CPI data. After the big spike in March inflation to a seven-year peak of 4.8% caused by the end-February fuel price hike, prices were unchanged on the month in April and the headline rate eased back a fraction more than expected to 4.6%. Easier food price inflation again offset the steep rise in transport costs but there is still a risk that the government will at some point allow dominant power generator Tenaga to raise its ...
... On the one hand, it is helping to temper imported inflation, hence reducing the need for a rate rise...
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