Philippine Central Bank Raises Key Rate

The Philippine central bank raised its benchmark interest rate for a second time this year as inflation expectations remained elevated. The Monetary Board of the Bangko Sentral ng Pilipinas, led by Governor Nestor Espenilla, on Wednesday, raised the key interest rate, which is the overnight reverse repurchase rate, by 25 basis points to 3.50 percent. ...

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South Africa Inflation Eases Unexpectedly In May

South Africa’s consumer price inflation slowed unexpectedly in May, though marginally, figures from Statistics South Africa showed Wednesday. Consumer prices rose 4.4 percent year-over-year in May, just below the 4.5 percent climb in April. Meanwhile, the inflation was expected to rise to 4.6 percent. Prices of food and non-alcoholic beverages ...

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U.S. Dollar Strengthens Against Majors

The U.S. dollar climbed against its major counterparts in early European deals on Wednesday, as fears over a US-China trade trade war faded and traders awaited U.S. existing home sales data later in the day. Helping ease concerns about the outlook for the world’s second-largest economy, the People’s Bank of ...

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NIER Cuts Sweden’s Growth Outlook

The Swedish economy will peak this year, the National Institute of Economic Research said in its Swedish Economy Report, released Wednesday. The agency downgraded its 2018 growth outlook to 2.5 percent from 2.9 percent. GDP growth is forecast to slow next year to 1.9 percent partly due to falling domestic ...

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UK Manufacturing Orders Recover In June: CBI

British manufacturing order books recovered in three months to June, the Industrial Trends Survey from the Confederation of British Industry showed Wednesday. A balance of 13 percent said order books were above normal and a 9 percent said export order books remained above normal. Manufacturers expect output growth to slow ...

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Philippine Central Bank Hikes Key Rates

The Philippine central bank on Wednesday raised its benchmark interest rate for the second straight month as inflation remains above the target. The Monetary Board of the Bangko Sentral ng Pilipinas, led by Governor Nestor Espenilla, raised the key interest rate, which is the overnight reverse repurchase rate, by 25 ...

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