The International Monetary Fund (IMF) is carefully assessing the economic implications of a recent court ruling in Kenya that nullified a series of taxes introduced in 2023. This evaluation is key to determining whether the IMF will approve the next round of loan disbursement to the East African nation. The IMF is examining both the

The Federal Reserve’s key gauge for underlying U.S. inflation showed only a modest increase in July, while household spending saw an uptick, solidifying expectations that the central bank will begin cutting interest rates next month. The core Personal Consumption Expenditures (PCE) price index, which excludes volatile food and energy prices, rose by 0.2% from June,

US consumer confidence reached a six-month high in August, buoyed by more positive perceptions of the economy and easing inflation, despite growing concerns about the labor market. The Conference Board’s consumer sentiment index increased to 103.3, up from a revised 101.9 in July, surpassing the median forecast of 100.7 from economists surveyed by Bloomberg. The

Kansas City Federal Reserve President Jeffrey Schmid emphasized the need for more comprehensive economic data before backing any move to lower interest rates. In an interview with Bloomberg’s Michael McKee, recorded on Wednesday and aired Thursday, Schmid acknowledged that while inflation is trending downward, caution is warranted before making further policy decisions. “For me, it’s

Poland might discuss adjusting its monetary policy before 2026 if there is clear evidence of a sustained decline in inflation toward the central bank’s target, according to Adam Glapinski, Governor of the National Bank of Poland (NBP). This represents a potential shift from Glapinski’s earlier statements, where he indicated that the Monetary Policy Council (MPC),

Recent economic data is offering some relief to those concerned about the strength of the US economy, which has been under pressure from persistently high interest rates. July’s retail sales and unemployment benefits reports reveal a more optimistic picture, suggesting that the economy may be on a path to moderation rather than contraction. Retail sales

Australia’s Fair Work Commission has announced a 3.75% increase in the national minimum wage, a move aimed at assisting the Reserve Bank of Australia’s (RBA) efforts to bring inflation back to its target range of 2-3% by next year. Starting July 1, the new minimum wage will be A$915.90 ($610) per week, or A$24.10 per

Asia’s factory activity sustained its growth trajectory in May, buoyed by a resurgence in new orders, even as China’s economic rebound faced challenges. According to S&P Global and au Jibun Bank, the Manufacturing Purchasing Managers Index (PMI) for both South Korea and Japan returned to expansion territory in May, breaking a prolonged slump. Japan’s PMI

China’s manufacturing sector experienced its fastest growth in nearly two years in May, according to a private survey, offering a stark contrast to the weak official data that had raised concerns about the country’s economic momentum. The Caixin manufacturing purchasing managers index (PMI) climbed to 51.7 in May from 51.4 in April, marginally above economists’

Turkey’s inflation rate surged to a staggering 75.5% in May, exceeding forecasts and marking a critical point in a prolonged cost-of-living crisis. This acceleration from just under 70% in April suggests that the peak of the crisis might be in sight, according to government officials. Data released on Monday revealed that monthly price growth, which