Contrary to recent reports that have caused turmoil in Indonesia’s currency and bond markets, it has been clarified by senior aide Thomas Djiwandono that President-elect Prabowo Subianto has no intention of increasing the country’s public debt to 50% of GDP. The speculation that Prabowo aimed to raise the debt-to-GDP ratio to 50% has been denied,
Economy
French Finance Minister Bruno Le Maire has issued a warning that France could be on the brink of a financial crisis if the far-right party wins in the upcoming elections. Opinion polls suggest that Marine Le Pen’s National Rally (RN) is gaining traction, with promises to reduce living costs and increase public spending. Le Maire
The recent decision by the European Union to impose tariffs on Chinese electric vehicles has been met with opposition from China and various stakeholders. Despite the EU’s argument regarding overcapacity in China’s EV industry, Beijing and industry insiders are eager to de-escalate the situation and strike a deal to avoid additional costs for Chinese electric
On Thursday, Asian currencies showed strength against a weakened dollar due to softer-than-expected U.S. inflation. The yen, however, remained under pressure ahead of the Bank of Japan meeting as U.S. policymakers indicated that interest rates would remain high. The euro and Aussie dollar both saw significant gains, with the euro rising by 0.6% and the
The dollar has stabilized after reaching a four-week high against other major currencies, reflecting the anticipation among traders for vital U.S. inflation data and the Federal Reserve’s forthcoming interest rate projections. Following a robust jobs report last Friday, which hinted at persistent inflation alongside robust growth, the likelihood of the Fed reducing rates in the
Poland is facing increasing expenditure needs related to infrastructure, climate risks, and security costs due to the war in Ukraine. The IMF official emphasized the importance of setting a “very high bar” for further fiscal loosening in order to address these needs. Prime Minister Donald Tusk’s government has already implemented measures such as hiking public
The markets in Asia have been carefully monitoring the aftermath of the rise of right-wing parties in the European Union and how it might affect the unity of the bloc. Despite this uncertainty, EUROSTOXX 50 futures managed to increase by 0.2%, showing some stability after a slight decline on Monday. Similarly, the FTSE futures remained
China, as the biggest official sector buyer of gold, has been steadily increasing its gold reserves over the past 18 months. However, official data from the People’s Bank of China (PBOC) in May showed that their holdings remained unchanged. This news caused a sharp drop in global spot prices, but industry players believe that China
Pakistan’s coalition government is gearing up to unveil its ambitious fiscal targets in the upcoming budget for the year 2024/2025. The budget, which is set to be announced on Wednesday, is expected to play a crucial role in solidifying Pakistan’s case for a new bailout deal with the International Monetary Fund (IMF). The country is
The recent shock announcement by French President Emmanuel Macron calling for a snap election after disappointing results in the European Union vote has sent ripples through global markets. The euro plummeted to a one-month low of $1.0764 and reached a 21-month low against the pound. EuroSTOXX 50 equity futures and French bond futures also took
Recent data from the Recruitment and Employment Confederation (REC) in Britain indicates that the decline in permanent hiring by employers in the country has been the least severe in over a year. This encouraging trend suggests that the recruitment market may be on the path to recovery, providing hope for both job seekers and the
The recent departure of Chanel’s top designer has sent shockwaves through the luxury fashion industry, prompting speculation about the future direction of the brand. Chanel, along with other major players like Louis Vuitton and Dior, has relied heavily on marketing new styles from high-profile designers and increasing retail prices to drive sales growth. However, with