Norway is facing a high inflation rate that is expected to remain elevated in 2023, according to the latest government projections. The country’s consumer price index (CPI) rose by 6.5% year-on-year in March 2023, the highest level since 1982. The main drivers of inflation were rising costs of housing, utilities,.
The drought in Argentina is mainly caused by the La Niña weather phenomenon, which is characterized by cooler-than-normal sea surface temperatures in the central and eastern Pacific Ocean. La Niña tends to reduce rainfall in southern South America, especially during the summer months. According to the National Meteorological Service (SMN),.
The debt limit is the legal amount that the U.S. government can borrow to pay its bills. It covers spending that Congress has already approved, such as Social Security benefits, military salaries, interest on the national debt, and tax refunds. The debt limit does not authorize new spending; it simply.
Japan’s economy is likely to have grown in the first quarter of 2023 at the fastest pace in three quarters, according to a Reuters poll of 17 economists. The growth is attributed to spending in the services sector, which offset weak business activity, and the Bank of Japan’s ultra-loose monetary.
Yannis Stournaras, the Governor of the Bank of Greece and a member of the European Central Bank’s (ECB) Governing Council, has predicted that the ECB’s monetary tightening cycle will come to an end in 2023 unless there are significant changes. Stournaras, who is known for his dovish stance on monetary.
Introduction Talks on raising the US federal government’s $31.4 trillion debt ceiling have entered a new phase, with a deadline to avoid a potentially catastrophic default fast approaching. Democratic President Joe Biden and top congressional Republican Kevin McCarthy met on Wednesday for their first negotiating meeting in three months. The.
Thailand’s food export industry is set to achieve a record high of 1.5 trillion baht ($44.31 billion) in 2023, according to a leading industry group consisting of representatives from the Thai Chamber of Commerce, the Federation of Thai Industries, and the National Food Institute. This is a 2.1% increase from.
Malaysia’s economy is expected to have slowed in the first quarter of 2023 due to a decline in exports and tepid consumption, according to a Reuters poll of economists. The Southeast Asian nation is expected to have expanded by 4.8% YoY in the January-March quarter, down from the previous quarter’s.
Australia’s government is poised to announce its first budget surplus in 15 years on Tuesday, thanks to higher commodities prices and wages that have resulted in tax windfalls. The surplus of around A$4 billion ($2.71 billion) for the fiscal year ending in June is forecasted in the budget, along with.
The Mexican government has announced plans to attract businesses to a corridor in the southern region of the country. The Inter-Oceanic Corridor is a part of a larger push to pump investment into the relatively poor region, which has been historically neglected. The plan involves building 10 new industrial parks.
The International Monetary Fund (IMF) has expressed its concern about the recent turbulence in the banking sector. The organization’s chief economist, Pierre-Olivier Gourinchas, stated on Monday that the story is not over and that EU banks were not immune to problems as long as the bloc did not go further.
Bank of Japan (BOJ) Governor Kazuo Ueda announced on Tuesday that the central bank plans to end its yield curve control policy and start shrinking its balance sheet once prospects for inflation sustainably hitting its 2% target heighten. Ueda made this statement during a parliamentary session where he also mentioned.