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The Latest Breaking News from Inflation

Explainer: What if US economy goes into recession? How it may impact India

NEW DELHI: The US Federal Reserve is expected to lift interest rates by three-quarters of a percentage point for a third straight time on Wednesday and signal how much further and how fast borrowing costs may need to rise to tame a potentially corrosive outbreak of inflation.

The Times of India

We need to be told the true climate cost of Schumer and Manchin’s pipeline side deal

Democrats hailed the Inflation Reduction Act as a climate crisis victory – so why the secrecy over an oil and gas pipelines bill?

The Guardian - US

Can Larry Summers please shut up now?

Former Harvard president has been playing inflation Cassandra on TV for months. Can we hear other views?

Salon

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Cost of living: How to cope with the rise in prices

Millions of Britons are struggling as the price of everything soars amid rising energy prices and inflation. Kate Ng turns to financial experts for advice on how to deal with it all

The Independent UK

Egypt's Central Bank Expected to Raise Interest Rates by 100 Basis Points

Experts and economists agreed that the Central Bank of Egypt (CBE) will raise interest rates during its meeting on Thursday but did not agree on the rate hike. A Reuters poll forecasted that the central bank will raise its overnight deposit rate by 100 basis points (bps) as it tries…

Asharq Al-Awsat

Fed orders another super-sized interest rate hike as it battles stubborn inflation

The Federal Reserve raised interest rates by another 0.75 percentage points today, as it tries to control runaway prices. The central bank also signaled that additional rate hikes are likely.

WEKU

Pendragon’s average used car price up by almost a third but inflation hits profit

Cost of the average second-hand car rises 32% to almost £19,000 amid shortage of new vehicles

Evening Standard

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Stirling foster carers call for payments review amid cost of living crisis

“The fees and allowances are now acutely vulnerable to the impact of inflation."

Daily Record

UK borrows almost twice as much as expected in August

Figure of £11.8bn comes as high inflation drives interest payments to a record for the month

The Guardian - UK

Asian shares decline ahead of Fed decision on interest rates

Asian shares have mostly declined as investors looked ahead to a widely expected interest rate hike by the U.S. Federal Reserve in its bid to squash the highest inflation in decades

The Independent UK

FTSE 100 Live: US interest rates in big jump as Fed hikes by 0.75%

US interest rates are going up today in another big bound in the Federal Reserve‘s aggressive fight against inflation.

Evening Standard

Officials pile pressure on Bank of Thailand to shield baht

The Bank of Thailand (BoT) and the Finance Ministry will soon meet to discuss the baht after it tumbled to the lowest in nearly 16 years, signalling growing concerns among officials that the currency slump can threaten a tepid recovery and stoke inflation.

Bangkok Post

Federal Reserve warns of ‘pain’ ahead as inflation surges

The US central bank is expected to announce a sharp rise in interest rates on Wednesday in an attempt to tackle the cost of living crisis

The Guardian - US

Biden declared victory over big pharma – but is it enough to sway senior voters?

The Inflation Reduction Act aims to reduce the cost of drugs, but the law’s limitations may not help the Democrats in the midterms

The Guardian - US

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The Hindu

Asian Development Bank pares 2022-23 GDP growth forecast for India to 7% from 7.5%

India’s inflation, ADB said, has turned out to be more persistent than expected, and led to a sharp tightening in monetary policy, while eroding consumers’ purchasing power

The Independent UK

High inflation in sight, Fed to signal more rate hikes ahead

Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming, he issued a blunt warning: The Fed’s drive to curb inflation by aggressively raising interest rates, he said, would “bring some pain” for Americans

The Independent UK

How the Fed's steep rate hikes stand to affect your finances

Mortgage rates have jumped, home sales have slumped and credit cards and auto loans have gotten pricier

The Independent UK

Asian lender ADB cuts forecasts to reflect weakening outlook

The Asian Development Bank has downgraded its forecasts for growth in the region, citing the war in Ukraine, rising interest rates to combat decades-high inflation, and China's slowing economy

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Tribune News Service

Ford stock sinks on inflation, supply constraints warning

Shares of Ford Motor Co.'s stock plummeted 12% Tuesday as investors reacted to the automaker's warning that the effects of inflationary pressures and supply constraints would show up in third-quarter earnings.

StockNews.com

Investors: THIS is the Elephant in the Room

It’s time to stop beating around the bush. The key topic is inflation and how much damage the Fed will create in the US economy to tame this economic beast. The more damage...the more downside for the stock market (SPY). 40 year investment veteran, Steve Reitmeister, shares his thoughts on…

The Independent UK

Half a million more pensioners ‘could be dragged into tax net’

At a time of soaring inflation, frozen income tax thresholds have a ‘profound effect’, according to former pensions minister Sir Steve Webb.

The Philadelphia Inquirer

Will inflation push Pa. legislature to give cost-of-living raises to state and school retirees?

With inflation topping 8% this year for the first time since 1981, Pennsylvania officials are mulling what to do about state and public school retirees' demands for the first pension cost-of-living adjustments (COLA) since 2004.

Bangkok Post

Abrdn urges dividend plays amid inflation

Asset manager Abrdn recommends investing in high-dividend stocks to combat global inflation, noting they can grow even in volatile market conditions.

Bangkok Post

The risk of competitive rate hikes

The world is facing the risk that major central banks will undertake competitive interest-rate hikes that may look desirable for their countries individually but could drag the world economy into an unnecessary recession.

France 24

Sweden's central bank kicks off week of interest rate hikes

Sweden's Riksbank has kicked off what's expected to be a series of interest rate hikes around the world, as central banks struggle to curb inflation. The 100 basis point hike is Sweden's biggest in three decades, in response to a cost-of-living crisis that's affecting households and businesses. Also in the…

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