Economy

Germany’s inflation eases to 2.5 percent in June, paving way for ECB rate cut

Inflation in Europe's largest economy had already slackened to 2.3 percent in March, its lowest level since June 2021

Japan revises Q1 GDP contraction to 2.9 percent from 1.8 percent on data corrections

Japanese companies project inflation to hit 2.3 percent three years from now and 2.2 percent five years later

Vietnam cuts VAT to 8 percent on select goods and services till year end

Vietnam's finance ministry has also reduced various fees and charges by up to 50 percent until year-end to support businesses

Germany’s unemployment rate rises to 6 percent in June

Unemployment in Germany rose to 2.727 million individuals in June, a monthly increase of 4,000

Australian shares plummet 1.4 percent as inflation surges to 4 percent, stoking rate hike fears

Morgan Stanley analysts expect an August rate hike, which may further weaken domestic trading conditions

Canada’s unexpected inflation surge dampens hopes of July rate cut

The annual inflation rate accelerated to 2.9 percent in May from 2.7 percent in April

Spain’s GDP expands 2.5 percent annually in Q1 2024, exceeding initial estimates

GDP grew by 0.8 percent sequentially, a faster pace than the 0.7 percent growth seen in the fourth quarter of 2023

ECB may cut interest rates twice more this year, to reach as low as 2.25 percent in 2025

While the ECB must ensure inflation returns to 2 percent, it shouldn’t overly dampen economic activity with interest rate cuts

China’s foreign direct investment plunges 28 percent to $57.94 billion in 5-month period

The manufacturing sector attracted 28.4 percent, or 117.1 billion yuan, of the total FDI inflow

Korea, Japan to take appropriate measures against currency volatility

Japanese yen has neared the 160 mark against the U.S. dollar, a level unseen in decades

Tax reforms, improved power sector to boost investment in Dominican Republic: IMF

The Dominican Republic leads Latin America in GDP growth, with an average annual rate of around 5 percent per year since the 1970s

China’s general public budget spending rises 3.4 percent to $1.52 trillion

During the first five months of the year, tax revenues declined 5.1 percent annually to 8.0462 trillion yuan

Eurozone business recovery slows in June as activity hits 3-month low: PMI

After hitting a 27-month high in May, business confidence across the eurozone declined in June

U.K. public debt rises to $3.47 trillion in May, highest since 1961

Borrowing in the U.K. reached 33.5 billion pounds in the first two months of the financial year

Swiss National Bank lowers key interest rate to 1.25 percent in second round of rate cuts

The SNB now expects inflation to be 1.3 percent in 2024, 1.1 percent in 2025, and 1 percent in 2026.

People’s Bank of China keeps interest rates unchanged in line with expectations

The one-year LPR was kept at 3.45 percent, while the five-year LPR was maintained at 3.95 percent

China’s industrial output rises 5.6 percent in May, signaling continued economic expansion

China's retail sales grew 3.7 percent in May, up from 2.3 percent in April

U.K. inflation reaches central bank’s 2 percent target: Will policymakers respond with rate cuts?

This marks the lowest annual increase in the consumer price index since mid-2021, in line with analysts' forecasts

Bank of Japan to reduce government bond buying

The central bank decided to outline its plan to reduce buying for the next 1-2 years in its July meeting

U.S. producer prices decline 0.2 percent in May

Data reveals 4.8 percent decline in energy index and 0.1 percent decline in food prices

ECB shouldn’t rush or delay future interest rate cuts: Bank of France governor

France central bank governor calls on governments and regulators to boost capital markets union to help close investment gap

Japan’s economy contracts by 1.8 percent in Q1 2024, slightly better than expected

Nominal GDP increased at an annualized rate of 0.1 percent, slower than the previously reported 0.4 percent

ECB cuts interest rates for the first time since 2019, down to 3.75 percent from 4 percent

Eurosystem staff now see headline inflation averaging 2.5 percent in 2024, 2.2 percent in 2025, and 1.9 percent in 2026