Treasury Secretary Scott Bessent expects a substantial drop in inflation during the first six months of 2026, according to statements made Tuesday on Fox Business. Bessent indicated that an announcement regarding President Trump's Federal Reserve chair selection would likely come in early January, with "one or two more Fed interviews" possibly taking place this week. When discussing potential candidates, Bessent noted that both Kevin Warsh and Kevin Hassett are "very very qualified" for the position. He rejected suggestions that Hassett would lack agency at the Federal Reserve, while...
Recent data shows the UK economy recorded its fastest growth rate in a year, supported by a solid services sector, although the manufacturing sector is still experiencing contraction. The Flash Services PMI for August 2025 surged to 53.6, well above the forecast of 51.8 and a significant increase from 51.8 in July. This increase pushed the Composite PMI - a combination of the services and manufacturing sectors - up to 53.0, its highest level since August 2024. A reading above 50 indicates expansion in economic activity. Conversely, the Flash Manufacturing PMI fell to 47.3, lower than...
Germany's flash composite PMI rose to 50.9 in August from 50.6, the highest since March and above market expectations of 50.2. Still, it was below the long-run 52.6 average, signaling modest growth. Manufacturing led with output at 52.6 on stronger new orders, while services stagnated at 50.1. Employment dipped, and cost pressures picked up, though overall growth remained limited. Source: Trading Economics
The S&P Global Flash Australia Services PMI Business Activity Index rose to 55.1 in August from 54.1 in July, marking the fastest growth in 40 months. The expansion was driven by stronger demand and renewed increases in new export business, particularly from the US, Europe, and Asia-Pacific markets. To manage higher workloads, service providers added staff at the quickest pace since April 2023. Input costs remained elevated due to higher wages, materials, and shipping, but the rate of inflation eased, allowing firms to raise selling prices more moderately. As a result, output price...
China is considering permitting yuan-backed stablecoins for the first time as part of efforts to increase global adoption of its currency, according to a report from Reuters, citing sources familiar with the matter. This potential policy shift represents a significant reversal of China's previous stance toward digital assets. The State Council, China's cabinet, is expected to review and possibly approve a roadmap later in August that would promote wider international usage of the yuan, including initiatives to compete with U.S. developments in stablecoins. Sources indicate the plan will...
Bank Indonesia unexpectedly cut its benchmark interest rate by 25 bps to 5.0% at its August 2025 policy meeting, following a 25 bps cut the previous month and defying market expectations to hold rates steady. This marked the fifth rate cut since last September, bringing the benchmark to its lowest level since October 2022. The decision reflects projections that inflation for 2025–2026 will remain within the central bank's target range of 2.5% ± 1%, a stable Rupiah exchange rate, and ongoing efforts to support economic growth. Recent data showed GDP grew by 5.12% yoy in Q2—its highest pace...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He emphasized that security support is a crucial factor...