The challenge of inflation is beyond the budget, noted economist Ahsan H Mansur said on Thursday (6 June). "But the budget plays a supporting role. What really plays a major role is the government's monetary policy. And the monetary policy has been tightened to a large extent… We have to be
Tag: inflation
ECB to start rate cuts but sticky inflation clouds path ahead
The European Central Bank is expected to begin cutting eurozone interest rates from historic highs this week, but sticky inflation means the move is unlikely to kickstart a rapid easing cycle. Policymakers are poised to reduce eurozone borrowing costs by a quarter percentage point on Thursday, taking the key deposit rate
Japan inflation falls to 2% in January
Japanese consumer inflation slowed for the third straight month to 2.0 percent in January, government data showed Tuesday. The reading will likely stoke speculation that the Bank of Japan might soon move away from negative interest rates and its tight grip on bond yields. The year-on-year rise in prices in the world's
Skyrocketing inflation puts food security in Pakistan at risk
“We are under extreme stress about skyrocketing prices of essential edible commodities and the cost of gas and electricity. The situation is becoming worse because every day. We must pay more for wheat flour, sugar, tea, milk, oil, etc.,” Azizullah Khan, a civil servant, says. Khan draws a monthly salary of
Inflation, dollar crisis major challenges for economy
Preparations for the budget for the 2023-24 fiscal must balance expectations in an election year with the conditions of the International Monetary Fund (IMF), and tackle inflation, foreign exchange crisis and revenue shortfall. Balancing public satisfaction and protecting the economy is a major issue. Economists say it has been seen in
Inflation to be calculated on new base year on IMF advice
Bangladesh Bureau of Statistics (BBS) is making radical changes in the inflation calculation considering the present financial situation and the IMF suggestions.The inflation will be calculated for the base year 2021-22 instead of the existing base year of 2005-06, which will be more accurate as lifestyle and consumer behaviors made
The year of inflation exposes dogma and class bias
Inflation worries topped Ipsos’s What Worries the World survey in 2022 overtaking COVID concerns. The return of inflation caught major central banks, e.g., the US Federal Reserve (Fed), Bank of England, European Central Bank “off guard”. The persistence of inflation also surprised the International Monetary Fund (IMF). The return of
IMF chief urges aggressive fight against inflation
Warning that inflation threatens to become “a runaway train,” the managing director of the International Monetary Fund urged policymakers to keep up the fight against rising prices even it means more pain at a time of extraordinary economic turmoil. Speaking to reporters Thursday, the IMF’s Kristaline Georgieva said that the world
Ideology and Dogma Ensure Policy Disaster
Central banks (CBs) around the world – led by the US Fed, European Central Bank and Bank of England – are raising interest rates, ostensibly to check inflation. The ensuing race to the bottom is hastening world economic recession. Going for broke New UK Prime Minister Liz Truss has already revived ‘supply
Inflation pushed 71m people into poverty since Ukraine war
A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following Russia's invasion of Ukraine, the United Nations Development Program said in a report Thursday. The UNDP estimates that 51.6 million more people fell into