Turkey cuts interest rates again despite 80% inflation

The number of Russian tourists to Europe decreased significantly during the summer, but increased in several other destinations, including Turkey (here). Onur Dogeman | soba pictures | Light Rocket | Getty Images Turkey’s central bank surprised markets once again with its decision on Thursday to cut its key interest rate, despite the country’s inflation soaring … Read more

European markets open to close, Bank of England and Swiss central bank interest rate decisions

The Bank of England raised interest rates by 50 basis points, the seventh in a row Bank of England They voted to raise interest rates By 50 basis points, less than the 75 basis points rise some analysts had expected. The bank said there have been other indications since August of “domestic inflation continuing to … Read more

European stocks open to close; Markets brace for more Fed rate action

Stocks on the move: Fortum up 9%, Uniper 34% after nationalization deal Finland shares Fortum It rose more than 9% in the early afternoon, after the company agreed to sell its 56% stake in the beleaguered German facilities. Uniper The German government in a nationalization deal. Uniper shares fell more than 34% in Frankfurt. At … Read more

How to save money with food inflation rising more than 11% a year

Going to the grocery store wouldn’t be cheaper. Rising food costs helped pay off Inflation rose again last monthdespite the decline gas prices. The food index alone is up 11.4% over the past year, according to another Consumer Price Index The numbers – the biggest jump in 12 months since May 1979. The Food at … Read more

The week under review, next week – September 2, 2022

The Standard & Poor’s 500 Index ended Friday lower, at its lowest closing level since July, after mounting a bid for consecutive gains earlier in the session. The first two days of September, which has historically been the worst month of the year for stocks, were mixed after the rough month of August, which has … Read more

High inflation in Turkey warns of more losses for Gulf banks

A general view of Emirates NBD on January 3, 2017 in Dubai, United Arab Emirates. Tom Dolat | Getty Images Dubai, United Arab Emirates – Banks dealing with Turkey have faced losses since the country’s currency began to decline sharply in 2018; Now, lenders in many of the oil-rich Gulf states in particular are set … Read more

Expect the jobs report to get hot and could lead to an aggressive Fed

An “We’re Hiring” sign is placed at the Target store on August 5, 2022 in San Rafael, California. Justin Sullivan | Getty Images Job growth in August may have slowed from July’s frenetic pace, but it is still expected to be very strong, with broad-based employment in many sectors. Monthly jobs data is always important, … Read more

Explainer: Lower prescription prices take time in the new law

Washington – After decades of failed attempts, Democrats have passed legislation aimed at curbing the prohibitive costs of drugs for some in the United States. It will take people years to realize some of the most important climate savings and Health Care A bill signed by President Joe Biden this month. The bill mostly helps … Read more