The Treasury responded on Wednesday to U.S. long-bond yields hitting the highest level since 2007 by doubling ‌long-end buybacks to at least $4 billion per operation.

The move, after a sharp selloff in long-duration debt, provided instant relief to a market that has been under pressure from concerns about ‌fiscal debt, inflation and competition from huge AI-related borrowing.

Investors, however, said they wanted the Treasury to take steps that would provide more lasting support — and they worried about the market distortions the move could create.

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Source: https://www.reuters.com/business/bonds-bounce-us-buybacks-relief-may-be-brief-2026-08-20/?fbclid=IwY2xjawT62-ZwZG9mAWV4dG4DYWVtAjExAHNydGMGYXBwX2lkEDIyMjAzOTE3ODgyMDA4OTIAAR6wYWtAJdLjRULGZyqwcbIPqIk_HXmCqB-MYYWCKFDH7LW_zSyY4N3paHl2rQ_aem_EXJNWinyt_Icn2258UpKXw

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In a statement, the bank’s nine-member Monetary Policy Committee lowered its main interest rate by a quarter of a percentage point to 4.50%, taking it to its lowest level since mid-2023.

That decision was widely expected in financial markets.

What wasn’t expected was the scale of the growth downgrade in the bank’s accompanying economic forecasts. The bank now predicts that the British economy will only grow by 0.75% this year, down from its previous forecast of 1.5% just three months ago.

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Source: https://apnews.com/article/britain-economy-interest-rates-inflation-bank-england-cecd754e6ff0f85dd33dba65813584eb

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“We are in a total crisis. Salaries don’t increase and so everything is expensive,” Chura told Reuters at the market in the city that perches in the mountains above Bolivia’s political capital La Paz. “With the excuse that there’s no diesel or gasoline, the price of everything has gone up.”

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Source: https://www.reuters.com/world/americas/bolivias-big-state-economic-model-slowly-implodes-fear-total-crisis-2024-12-16/

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The Senate unanimously approved the proposal submitted to guarantee that Mexicans’ purchasing power is not eroded by annual price increases.

The change would not have an immediate impact on the lowest salaries, since Sheinbaum said that they would increase roughly 12% in 2025 and by a similar amount in future years. But analysts say the law could have a greater impact if inflation rises beyond current levels of about 5%.

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Source: https://www.yahoo.com/news/mexico-congress-guarantees-minimum-wage-034607314.html

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After a dismal second quarter, the world’s second-largest economy lost momentum further in July: new home prices fell at the fastest pace in nine years, industrial output slowed, export and investment growth dipped and unemployment rose.

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A study published on Sunday by Econométrica, a private Argentine consulting firm, first reported the no-inflation week. In its study, Econométrica analyzed 8,000 prices in local online supermarkets and found no change when compared to the preceding week — something that has not happened in Argentina in three decades. In addition to the lack of variation in prices in one week, the study found that the prices of food and drinks only experienced an increase of 0.1 percent in the past 15 days.

President Milei, who is currently in Prague, confirmed the study’s findings on Monday morning in a telephone interview held with Argentina’s Radio Mitre, celebrating the news as a result of his economic policies.

“That means that we are on the right path — which there is still a long way to go, but the first signs that things are working are beginning to appear,” Milei told Argentine journalist Eduardo Feinmann.

“I sometimes present it, explain it, but, well, I have encountered in recent times gross levels of intellectual dishonesty. Because we all know that wholesale inflation is the one that predicts and anticipates retail inflation and the reality is that inflation in December when we arrived was 54 percent, that annualized gives 17,000,” he continued.

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Source: https://www.breitbart.com/latin-america/2024/06/24/argentina-logs-first-week-no-inflation-food-prices-30-years/

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ANKARA — Turkey’s Central Bank, in a unexpected move, hiked interest rates Thursday by another 500 basis points, from 45% to 50%.

The monetary policy committee cited a “higher than expected” surge in the country’s year-on-year inflation last month, which hit almost 70%. The embattled Turkish lira strengthened immediately after the surprise announcement, trading more than 1% up on the day at 14:30 p.m. local time.

“Recent indicators imply that domestic demand remains resilient,” the bank said in a statement.

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Source: https://www.al-monitor.com/originals/2024/03/surprise-move-turkeys-central-bank-hikes-interest-rates-50

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Japan has ended its negative interest rate policy, marking a historic shift away from an aggressive monetary easing program that was implemented years ago to fight chronic deflation.

As part of the decision, the Bank of Japan (BOJ) raised interest rates for the first time in 17 years, lifting its short-term rate to “around zero to 0.1%” from minus 0.1%, according to a statement posted on its website on Tuesday.

The BOJ has battled deflation and economic stagnation since the late 1990s. Over the years, it has sought to encourage prices to rise by using a combination of conventional and unconventional monetary policies, including zero or negative interest rates and large-scale asset purchases.

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Source: https://www.cnn.com/2024/03/18/business/japan-boj-negative-interest-rate-ended-intl-hnk/index.html

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