The bank’s previous inflation report three months ago forecast year-end inflation of 38 per cent in 2024 and 14 per cent next year
The last time Türkiye’s central bank raised its main policy rate was in March when it hiked by 500 basis points
The country’s core inflation slowed to an annual 25 per cent from 25.1 per cent in August
Almost 15,000 companies closed down in the first seven months of the year, up 28 per cent from 2023
The central bank said that the lending rate remained at 28.25 per cent, while the deposit rate stood at 27.25 per cent
Economists say central bank lending risks undermining the economy by expanding the money supply and fuelling inflation
Dubai’s CPI moved down marginally to 111.56 points in July from 111.65 points in June, according to Dubai government data
The bank has raised its policy rate by 4,150 basis points since June last year but has kept it unchanged at 50 per cent since March
The government raised domestic fuel prices by up to 15 per cent ahead of the IMF review, which had been postponed from July 10
Since June last year, the central bank has hiked rates to 50 per cent and it pledged to remain vigilant to inflation risks
Turkey’s central bank has raised its main rate to 50 per cent from 8.5 per cent since Finance Minister Mehmet Simsek was appointed last year
The central bank raised interest rates by 600 bps on March 6 as part of an agreement with the International Monetary Fund
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In April, food and beverage inflation declined to 2.3 per cent, down from an average of 3.3 per cent seen in the first quarter
Equities, which tend to move in tandem with oil prices, rose on the rate cut hopes, with the Dow reaching an all-time high of 40,000 for the first time
The CBUAE traditionally moves lockstep with the US Fed amid the UAE having pegged its currency to the US dollar at a rate of Dhs3.67 to $1
The Consumer Price Index (CPI) in Saudi Arabia recorded a slight decrease of 0.1 per cent compared to February 2024
Gold logged its best month since July 2020, at a 9 per cent increase, and a second straight quarterly rise
Inflation has now been running below the Fed’s target on a seven-month basis while US economic growth and the job market have remained largely intact
The statistics authority said rental prices increased by 9 per cent in December 2023
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An over-valued currency, weak property rights and institutions, and an overbearing state and military have deterred investment and competition
From the upcoming climate conference in UAE, to inflation numbers in the US, and China’s GDP targets, a look at what the markets are tracking
Inflation hit a 24-year peak of 85 per cent last year and surged again in recent months as the lira weakened for a third year in a row
GCC central banks normally change their interest rates in lockstep with the US Fed as Gulf states’ currencies are pegged to the dollar
Türkish companies’ end-2023 balance sheets will be inflation-adjusted, with the practice expected to continue until 2026
The main driver of CPI inflation in September was higher prices of housing, water, electricity, gas and other fuels, and restaurant and hotel prices
It was the fourth consecutive month of record highs recorded on the central bank website
The key takeaway from Powell’s speech is monetary policy will stay “restrictive” until inflation is moving firmly toward 2 per cent
The agreement is aimed at bettering the payment-systems infrastructure, financial inclusion and regulatory framework in Egypt