Global stocks slip as investors mull red-hot inflation and supersized central bank rate hikes
slipped 0.62% and 0.55%, pointing to another slide at the opening bell later.
This week's above-consensus inflation reading makes it more likely that the Fed will aggressively hike interest rates. The US central bank alreadylast month as it tries to bring soaring prices under control. "A 75 basis point hike at the next Fed meeting is now fully priced in, with Fed funds futures pointing to some chance that the central bank may even hike 1%," UBS chief investment officer Mark Haefele said., and the Royal Bank of New Zealand hiked rates by 50 basis points as well this week.
"Canada's actions yesterday in raising by 100 basis points may well have opened the door to the Fed also being more aggressive, even though it is by no means a done deal," CMC Markets' chief analyst Michael Hewson said. The MSCI World Index of global shares dropped 0.25%. Stocks in Europe led the sell-off, with the continent's flagship
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global economic outlook has 'darkened significantly' - IMF | The CitizenThe IMF is due to release its updated World Economic Outlook later this month.
Read more »
Business Maverick: Global finance chiefs head to Bali to talk inflation, debt and oilFinancial stewards of the biggest economies in the world descend on the tropical island of Bali this week at a time when rapid inflation threatens to further destabilise populations and turn fragile recoveries into recession.
Read more »
Google CEO Sundar Pichai sent a memo to staff about hiring in the current global economyAlphabet Inc’s Google is planning to slow hiring for the rest of the year, in line with other tech giants who have either made similar decisions or announced job cuts.
Read more »
TIPPING POINTS: Governments still favour profit over nature, ‘driving global biodiversity crisis’ — UN reportAn assessment report by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services argues that the way nature is valued in political and economic decisions is a ‘key driver of the global biodiversity crisis’ and provides a ‘vital opportunity to address it’.
Read more »
DJ Sabby goes global with BBC1 and NY City Power | The CitizenThe Metro FM DJ hosts the station’s official Top 30, which has quickly become the station’s most-listened-to show with over 1.1 million listeners
Read more »
Global finance chiefs head to Bali to talk inflation, debt, oilDigital banking and financial inclusion also score separate slots among the meeting’s half-dozen stated priorities. Moneyweb Finance Debt
Read more »