Minneapolis CNN — The US economy added 311,000 jobs in February, according to the latest monthly employment snapshot from the Bureau of Labor Statistics released Friday. That’s a pullback from the blockbuster January jobs report, when a revised 504,000 positions were added, but shows the labor market is still emitting plenty of heat. The unemployment … Read more
Abuja, Nigeria CNN — President Muhammadu Buhari on Thursday directed Nigeria’s central bank to reissue old 200-naira ($0.43) banknotes withdrawn just days ago as concerns grow that the botched introduction of new money could disrupt general elections later this month. Violent protests have erupted in recent weeks as millions of people struggled to get their … Read more
Sydney Reuters — Australia’s central bank raised its cash rate by 25 basis points to a decade-high of 3.35% on Tuesday and reiterated that further increases would be needed, in a more hawkish policy tilt than many had expected. Wrapping up its February policy meeting, the Reserve Bank of Australia (RBA) also dropped previous guidance … Read more
Chennai: With the retail inflation down, if the Reserve Bank of India‘s (RBI) Monetary Policy Committee (MPC) pause on the policy rate hike or increase it by 25 basis points to 6.50 per cent will be known on February 8. The RBI’s MPC will be meeting on February 6-8 to decide on the rates. “Inflation … Read more
New Delhi: The Confederation of Indian Industry (CII) Sunday asked the Reserve Bank of India to consider moderating the pace of its monetary tightening ahead of the forthcoming monetary policy review, citing challenges emanating from global headwinds. “Given the headwinds to domestic growth mainly emanating from the global uncertainties, the RBI should consider moderating the … Read more
London CNN Business — The Bank of England raised interest rates by three quarters of a percentage point on Thursday, the biggest hike in 33 years, as it tries to contain soaring inflation even as the UK economy slides towards a recession that could last two years. The central bank made its eighth interest rate … Read more
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. London CNN Business — Twelve days from now, the Federal Reserve will meet again, and expectations for the … Read more
This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business — The Nobel in economics is sort of the step-cousin of the Nobel family. It came about nearly 70 years after its literature and sciences counterparts, in 1969, and is technically … Read more
Inflation is at a manageable level, finance minister Nirmala Sitharaman said on Saturday. The comments by the finance minister came a day after RBI hiked interest rate by 50 basis points in a bid to bring inflation to its comfort zone and in line with aggressive policy tightening by key global central banks. The third … Read more
Governor Shaktikanta Das announced a 50-bps hike in policy repo rate to 5.9% from 5.4% during the monetary policy committee’s meeting on 30th September 2022 and maintained withdrawal of accommodation. With this, the rates have gone up 190-bps cumulatively since the start of the current calendar year. The rate hike was decided by a majority … Read more