Indonesia: Indonesia Unexpectedly Raises Key Rate to Highest Since 2009
Bloomberg reports that the Indonesian Central Bank unexpectedly decided to raise interest rates in attempts to manage the current account deficit and defend a depreciating currency.
Norway: Norway’s $800 bln fund should lose independent ethics panel
Norway’s USD 800 billion wealth fund may undergo an important structural change. Reuters cites a report from a government-appointed commission suggesting that the ethics panel which decides the composition of the fund should lose its independence and become part of the Central Bank-which manages the fund, in order to make the decision process more efficient. However, many -in particular non-governmental organizations- believe that the Central Bank will take a more “conservative” approach, which would result in a less “ethical” fund.
Global: Central Banks back to monetary surprise
The Reuter’s article highlights that the ECB and the Fed have returned to the monetary surprises in less than two months. The article analyzes the impact that rate cuts in the case of the ECB and taper delay in the case of the Fed, can have in the economy, regarding them as unexpected changes.
Venezuela: President Maduro to extend price controls
As the BBC reported, Venezuela’s President Nicolas Maduro claimed that will extend price controls and limit businesses profits. The decision comes after the seizure on Saturday of shops accused of selling electronic goods at inflated prices.
United Kingdom: U.K. Inflation Slows More Than Forecast to Least in a Year
Bloomberg report the latest inflation data published on Tuesday by the Office for National Statistics (ONS). In October, headline infation fell sharply to 2.2% due to falling fuel prices. Infation rate is now closer to the Bank of England’s target of 2.0%.