Australian inflation (CPI) rose 2.8% year-on-year in July, the fastest pace since July 2024. The housing cost component jumped 3.6% year-on-year, highlighting price pressures from rents and utilities. This figure was slightly above market expectations, signaling that the disinflation process is underway, but not yet complete. In the bond market, Australian 3-year bond futures fell (yields rose) shortly after the hotter-than-expected CPI release. However, this reaction is expected to be temporary. The global picture still points to the Federal Reserve moving toward interest rate cuts, a key...
The Indian government estimates that the newly imposed 50% US tariff will affect exports worth USD 48.2 billion. Officials have warned that the additional duties could make shipments to the US commercially unviable, potentially leading to job losses and slower economic growth. To soften the impact, the government is working on a multi-pronged strategy, including Goods and Services Tax (GST) reforms aimed at boosting domestic demand. The 50% tariff, effective from Wednesday (August 27), is expected to hit exports of textiles, shrimp, leather, and gems and jewellery the hardest. The US...
Russia launched a massive drone attack on energy and gas transportation infrastructure in six Ukrainian regions overnight, leaving more than 100,000 people without power, Ukrainian officials said on Wednesday (August 27). Russian forces significantly damaged gas transportation infrastructure in the Poltava Region and attacked equipment at a major substation in the Sumy Region, the Energy Ministry said via the Telegram messaging service. The attack left more than 100,000 people without power in the Poltava, Sumy, and Chernihiv regions, Ukrainian President Volodymyr Zelenskiy said. Ukraine's...