ShreeMetalPrices: Turkey’s Inflation Rises to 85.5%, a 24-year High, Following Interest Rate Cut.
Turkey’s inflation rises to 85.5%, a 24-year high, Following Interest rate cut. annual inflation rate rose to 85.51% in October, a new 24-year high, according to official statistics released on Thursday. This was slightly less than expected as the central bank reduced its policy rate despite rising prices. (Read More) Since the lira sank last
ShreeMetalPrices: Fed Announced A 75 Basis Point Rate Hikes.
Officials from the Federal Reserve (Fed) announced their fourth consecutive 75 basis-point increase in interest rates while also hinting that their vigorous battle to control inflation may be nearing its conclusion. In its statement following a two-day meeting. The Federal Open Market Committee stated that “ongoing hikes” will probably be required to raise rates to
ShreeMetalPrices: Chinese EV manufacturer is forced to halt production due to Covid -19 restrictions
Due to Covid limitations and the most recent spike in infections in the nation, China’s Nio, an EV manufacturer, has halted production. (Read More)According to a company spokesman. “The news that manufacturing at Nio’s factories has been temporally pause is correct and this will have an effect on manufacturing and delivery dates.“ The latter referenced
ShreeMetalPrices: RBI Governor; Rupee has acted in a disciplined manner.
RBI Governor Shaktikanta Das said on Wednesday that despite the rupee recent downward trend. Which saw it even cross the 83 level against the US dollar, the Indian currency had behaved orderly and that its trajectory shouldn’t really be taken emotionally. During his speech at the FICCI Banking Summit in Mumbai. Das predicted that capital
ShreeMetalPrices: Iran announces $6.5 billion in gas deals with Russia.
A Minister revealed that Russia and Iran have agreed contracts worth approximately $6.5 billion regarding collaboration in the gas sector. According to Mehdi Safari, deputy foreign minister for economic diplomacy. The recently concluded agreements are components of the $40 billion memorandum of understanding (MoU) that sign here between National Iranian Oil Company (NIOC) & Russia’s
ShreeMetalPrices: GST revenue reached Rs 1,51,718 crores in October, the second-highest level since April.
According to official data released on Tuesday, the government received gross GST revenue of Rs. 1,51,718 crore in October, that is the second-highest amount ever after April this year. For eight consecutive months, the GST monthly collections have exceeded Rs 1.4 lakh crore.Since the implementation of the GST, the bar of Rs 1.5 lakh crore
ShreeMetalPrices: Australia hikes its interest rates and indicates future tightness
As it battles growing inflation, Australia’s central bank raised its interest rates by a 0.25 percentage point and hinted at future pressure. (Read More) In a widely anticipated move, the Reserve Bank’s board increased the bank rate to 2.85%. Its highest possible level since April 2013. Three-year bond yields fell as much as 15 bps
ShreeMetalPrices: Global FX Drops as China weak Data & Fed Meeting Were Anticipated.
Majority of Global FX currencies fell on Monday as dismal economic data from China weakened investor confidence and markets braced themselves for this week’s Federal Reserve meeting.(Read More) After data revealed that the nation’s manufacturing sector unexpectedly contracted in October, the value of the Chinese yuan and the offshore yuan both declined by 0.2%. As
ShreeMetalPrices: Inflation in the Euro-zone hits a new high as the economy falters.
Inflation in the eurozone countries increased to a new record high while the bloc’s economy slowed down, fueling concerns that a recession was now all but inevitable.In October, consumer prices increased by 10.7% compared to the same month last year. Considerably above the survey’s median expectation of 10.3%. In contrast, third-quarter output dropped to 0.2%
ShreeMetalPrices: Taiwan Wants China to End Threats and Start Communicating
China should end threatening Taiwan and ensure peace and stability. Said the head of Taiwan’s China-policy governing Mainland Affairs Council on Friday. As Beijing upped military , political pressure on the island it claims as its own. (Read More) Since August, when it conducted blockade operations around the island in anticipation to a visit of