Nigeria’s central bank has raised its benchmark interest rate to an all-time high of 15.5 percent.
Tag: Economy
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ENERGY COSTS WILL “KILL THE ECONOMY,” SLOVAKIA PRIME MINISTER WARNS
The skyrocketing price of electricity has pushed Slovakia’s economy to the brink of “collapse,” prime minister Eduard Heger said last week in a public warning.
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COTTON PRICES TUMBLE
Cotton futures prices have slid 25 percent since late August, reversing the rise in price that followed the U.S. agriculture department’s forecast that 40 percent of this year’s U.S. cotton harvest would be lost to drought.
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…AND RATES KEEP RISING
On 29 September, Mexico’s central bank raised its benchmark interest rate to a record 9.25 percent.
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NEW BUSINESS OPENINGS IN CANADA FALL BY ALMOST 50 PERCENT
In the second quarter of this year, Canadian business starts fell by more than 49 percent compared to a year earlier and compared to the same quarter in 2019, according to the Equifax credit reporting agency.
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GERMANY ROLLS OUT €200 BILLION IN ENERGY SUBSIDIES
Germany’s government will provide a €200-billion “shield” for businesses and low-income households grappling with relentlessly rising energy bills, the government announced last week.
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REFINANCING DEBT COULD ADD $1 TRILLION TO COSTS
Emerging nations and wobbly corporations needing to refinance debt will need to pay interest an average of 1.56 percentage points higher than the current rate for the same securities—a total of $1.01 billion extra, according to Bloomberg’s analysis of bonds owed by current public-and private-sector debtors.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
Dragflation: Economic growth declining and inflation rising... plus the pressure of interest rate hikes that are drying up the cheap money pool are causing companies in many sectors to lay off employees.
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U.S. MORTGAGE RATES HIGHEST IN 15 YEARS
Last week, U.S. mortgage interest rates rose to their highest levels since July 2007 during the Great Recession.
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MAJOR STORES LOCK MERCHANDISE AS THEFTS SKYROCKET, FURTHER CEMENTING OUR FORECAST
You would need to be living under a rock if you are unfamiliar with videos showing people with guns robbing stores, groups of brazen shoplifters entering supermarkets and high end retail outlets exiting with designer bags, Apple computers, jewelry, robbing people in the streets, stealing their cars, etc.