Austria to raise pensions in 2024 amid high inflation
VIENNA: The Austrian government announced Wednesday that it would raise pensions by 9.7 per cent next year due to high inflation in the country. The package, worth a total of €5.3 billion (US$5.7 billion), will cover 2.2 million pensioners in the central European country, Xinhua quoted Austria’s social affairs minister Johannes Rauch as saying at […]
BNM Governor: Need to stay vigilant as core inflation remains elevated
BY KARINA IMRAN & SHARIFAH PIRDAUS SYED ALI KUALA LUMPUR: Malaysia must stay vigilant on inflation given that core inflation is still elevated at a higher-than-usual level, according to Bank Negara Malaysia (BNM) governor Datuk Abdul Rasheed Ghaffour. High inflation makes life difficult for the rakyat, especially the lower-income group, and can cause significant harm […]
Eastern Europe faces high inflation, weak growth
WASHINGTON: Eastern and Southeastern Europe are facing deep economic “scarring” and high inflation along with weak growth, reported Sputnik, quoting International Monetary Fund (IMF) managing director Kristalina Georgieva. “Turning to growth, the region is facing deep economic scarring,” Georgieva said at a conference hosted by the IMF and the Croatian National Bank in Dubrovnik. The IMF’s current […]
OPR hike painful but necessary to save consumers
KUCHING: Bank Negara Malaysia (BNM) has raised the Overnight Policy Rate (OPR) to address inflation concerns, contradicting claims that higher OPR would increase the cost of living. Centre for Market Education (CME) economist Dr. Carmelo Ferlito explained that inflation occurs when the quantity of money in circulation grows faster than the output (Gross Domestic Product). […]
IMF lowers 2023 forecast for global economy
WASHINGTON: The International Monetary Fund slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic worries and geopolitical strains. Concerns over high inflation, rising geopolitical tensions and financial stability hang over the updated forecasts, with the impact of war in Ukraine continuing […]
Economist expects moderate GDP growth of 4.7 pct
KUALA LUMPUR: Malaysia’s economy is expected to grow at a moderate pace of 4.7 per cent this year amidst a gradual decline in inflation, softening monetary policy and subpar commodity prices, an economist said. Nonetheless, ANZ Bank chief economist (Southeast Asia and India), Sanjay Mathur projected the gross domestic product (GDP) growth to remain quite […]
Bank stocks still offer hedge against inflation
KUALA LUMPUR: RHB Investment Bank Bhd (RHBIB) has maintained its “overweight” call on bank stocks as it believes banks still offer some degree of hedging against inflation despite rising recessionary risks. The investment bank said these stocks recorded a modest five per cent growth for year-to-date July 2022, retreating from an almost 10 per cent […]
High inflation rate has people worried
By Neville Timothy Sanders & Nura Valentiana Lorna KUCHING: Commodities are not an issue that the people are worried about; it is inflation that has the them in its grip. The falling prices of commodities in recent months have sparked concern among some of the experts that it could lead to a global recession. This […]
Bank stocks still offer hedge against inflation
KUALA LUMPUR: RHB Investment Bank Bhd (RHBIB) has maintained its “overweight” call on bank stocks as it believes banks still offer some degree of hedging against inflation despite rising recessionary risks. The investment bank said these stocks recorded a modest five per cent growth for year-to-date July 2022, retreating from an almost 10 per cent […]
High inflation expected to persist
ANKARA: The United States Congressional Budget Office (CBO) said Wednesday it expects high inflation to persist into 2023 and 2024, according to its Budget and Economic Outlook report. The non-partisan federal agency said it estimates annual consumer inflation will average 6.1 per cent this year and then slow down to 3.1 per cent next year and later down […]
