Aurelia Butler

More stories

  • 150 Shares99 Views

    in Economy

    ECB cuts growth forecasts, still sees inflation at target in late 2025

    The ECB has struggled with runaway inflation over the past three years but started to lower interest rates from record highs in June as price pressures are clearly moderating. Weak growth is one of the key reasons why inflation is easing and gross domestic product (GDP) in the 20 countries sharing the euro is now seen expanding by 0.8% this year, below a 0.9% projection made three months ago. Inflation is seen at 2.2% next year, above the ECB’s 2% target but the trajectory of the forecasts suggests a fall to target in the second half of the year.The following are the ECB’s projections for inflation and economic growth. Previous projections from June are in brackets.2024 2025 2026GDP growth: 0.8% (0.9%) 1.3% (1.4%) 1.5% (1.6%)Inflation: 2.5% (2.5%) 2.2% (2.2%) 1.9% (1.9%)Core inflation: 2.9% (2.8%) 2.3% (2.2%) 2.0% (2.0%) (This story has been corrected to fix the new 2026 GDP forecast in table to 1.5%, not 1.6%) More

  • 125 Shares149 Views

    in Economy

    US annual PPI at 1.7% in August, stocks edge higher

    The U.S. Bureau of Labor Statistics (BLS) announced that the PPI, excluding food and energy, remained unchanged in August, coming in at 2.4%, compared to the consensus estimate of 2.5%.The data also showed that PPI month-on-month in August was 0.2%, above the estimate of 0.1%, while core PPI MoM was 0.3%, above the consensus estimate of 0.2%. Meanwhile, PPI YoY in August was 1.7%, below the consensus expectation of 1.8%.The data suggests that while inflationary pressures have been somewhat resilient, the spike experienced in the second quarter has continued to work its way down.On Wednesday, U.S. inflation data showed consumer prices rose by 2.5% over the 12 months to August, marking the slowest pace since February 2021. It was down from 2.9% in July.Following Wednesday’s inflation data, analysts at Citi indicated that the latest inflation figures might prompt the Fed to cut rates by 25bp rather than 50bp, while Morgan Stanley said it also sees a 25bp cut. More

  • 200 Shares169 Views

    in Economy

    South Africa to cut rates on Sept. 19 for first time since COVID-19 response- Reuters poll

    JOHANNESBURG (Reuters) – The South African Reserve Bank will cut its repo rate by 25 basis points to 8.00% at its Sept. 19 meeting as slowing inflation opens the door to easier policy for the first time since its COVID-19 response over four years ago, economists say.Eighteen of 21 economists surveyed in the past week said the SARB would cut by 25 basis points (bps) next week and other three expected rates to be held at 8.25%.Median forecasts showed it would do so again in the next three quarters to reach 7.25% in May.Inflation in Africa’s most industrialized nation slowed to an over three-year low in July by 0.5 percentage points to 4.6%, closing in on the central bank’s 3%-6% midpoint and giving the Reserve Bank a clear shot at cutting rates in coming days and months.It is expected to average 4.7% this year and slow to 4.3% next year, 0.2 percentage points lower than last month’s poll predictions for both years.In an additional question, seven of eight economists said it was unlikely the SARB delivers a 50-basis point cut in any of its meetings this year, signalling a lower conviction for bigger cuts.”The SARB will have ample justification to cut rates faster than expectations given headline CPI is moving notably below their expectations, helped by multiple cuts in fuel prices,” said independent economist Elize Kruger.”But the SARB remains notoriously conservative, and especially given recent comments … they will likely only cut in 25bps increments, but they are clearly behind the curve in my opinion,” added Kruger.The last time the SARB cut rates by more than 50 bps was in response to the COVID-19 pandemic.”The conservative nature of the SARB, coupled with its view that South Africa’s policy rate is also only around 100bps away from what it considers ‘neutral’ means that cutting in 50bps increments seems unlikely to us at this juncture,” wrote Jeffrey Schultz, chief economist for CEEMEA markets at BNP Paribas (OTC:BNPQY).In a separate Reuters poll, the U.S. Federal Reserve is expected to lower its rates by 25bps at each of its three remaining policy meetings this year, according to a majority of economists, setting the stage for cuts across the world.Emerging market central banks have been careful not to cut in deeper magnitudes than the Fed due to worries of alienating capital inflows that often bolster local currencies, however the likes of Brazil have cut rates when it felt it was warranted.”It would take a material weakening in global and domestic economic activity (hard landing for the global economy), rather than something idiosyncratic in the domestic inflation picture for the SARB to change tack and adopt a more aggressive easing stance,” added BNP Paribas’ Schultz.Most emerging market currencies will see no further gains for the rest of this year despite an expected series of interest rate cuts from the U.S. Fed, a cautious prospect for rate cuts, another poll earlier this month suggested.(Other stories from the Reuters global economic poll) More

  • 75 Shares99 Views

    in Economy

    ECB cuts interest rates to 3.5%

    Save over 65%$99 for your first yearFT newspaper delivered Monday-Saturday, plus FT Digital Edition delivered to your device Monday-Saturday.What’s included Weekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysis More

  • 150 Shares159 Views

    in Cryptocurrency

    Anthony Scaramucci Teases His New Book on Bitcoin with Michael Saylor’s Foreword

    Scaramucci teased his new book on Bitcoin as well.The latter has managed to reinvent himself as a prominent Bitcoin supporter in the corporate world during the past four years. Since August 2020, MicroStrategy has accumulated roughly $8.3 billion worth of BTC.They began buying with their free cash reserves and then started selling specially issued convertible notes to investors to raise billions of dollars to buy more BTC and allow investors capitalize on it. Basically, MicroStrategy has turned into a sort of Bitcoin ETF before the SEC granted approval to spot Bitcoin ETFs this January.Scaramucci tweeted that it is “always great to spend time with the living legend @saylor.” Scaramucci thanked Saylor for writing a foreword to his new book called “The Little Book of Bitcoin,” without revealing any details of the new product. However, there is a small “teaser” on the cover, which says: “What You Need to Know that Wall Street Has Already Figured Out.”Renowned global investor and Bitcoin supporter Dan Tapiero congratulated Scaramucci in a comment under the tweet.As reported by U.Today earlier, Scaramucci defended Michael Saylor on X in a tweet, calling the MicroStrategy founder “the best explainer of Bitcoin” in the cryptocurrency community.The firm still produces software, he said; however, the main focus is now on Bitcoin and issuing convertible notes to investors for raising more money to buy BTC.Saylor also stated that he expected Bitcoin to surge to an unbelievable high of $13 million over the next 21 years.This article was originally published on U.Today More

  • 113 Shares99 Views

    in Economy

    Brazil urges EU to delay planned laws on deforestation

    Save over 65%$99 for your first yearFT newspaper delivered Monday-Saturday, plus FT Digital Edition delivered to your device Monday-Saturday.What’s included Weekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysis More

  • 150 Shares169 Views

    in Cryptocurrency

    WOW EARN Unveils WOW ZONE: Limited-Time Double Airdrop Points Event Now Live

    WOW EARN, a pioneering force in the blockchain DeFi space, is proud to announce the launch of its latest innovation—WOW ZONE. This new feature is designed to transform user engagement on the platform by introducing a wide range of tasks that allow users to earn points, which can then be exchanged for $WOW tokens. The launch of WOW ZONE marks a significant step forward in WOW EARN’s mission to create a more interactive and rewarding user experience.Introducing WOW ZONE: A New Era of User EngagementWOW ZONE is not just a task center; it’s an ecosystem within the WOW EARN platform that encourages users to explore, interact, and grow within the community. The variety of tasks available in WOW ZONE is extensive, catering to a broad spectrum of user activities. Whether a user is new to the platform or a seasoned member, WOW ZONE offers something for everyone. Tasks range from basic activities such as account registration and content sharing to more advanced actions like engaging with the community on social media and participating in platform events.Each task within WOW ZONE is thoughtfully designed to ensure it is achievable and meaningful. The goal is to create a system where users feel that their time and effort are being rewarded substantially. As users complete tasks, they earn points that can be directly converted into $WOW tokens, adding real value to their engagement with the platform.Limited-Time Double Points EventTo celebrate the launch of WOW ZONE, WOW EARN is rolling out a limited-time double points event. This event is designed to give users a significant incentive to dive into WOW ZONE and start completing tasks. For a limited period, users can earn double the usual points for each task they complete, effectively doubling the number of $WOW tokens they can acquire.This double points event is more than just a promotional offer; it’s a strategic opportunity for users to maximize their $WOW token. Early participation in WOW ZONE, especially during the double points period, could give users a significant advantage, positioning them well as $WOW tokens gain traction in the market.Building a Loyal and Active CommunityThe launch of WOW ZONE is not just about rewarding users; it’s about building a stronger, more connected community within the WOW EARN ecosystem. By offering a variety of tasks that encourage active participation, WOW ZONE fosters a sense of belonging and loyalty among users. The platform’s success is tied directly to the engagement and satisfaction of its community, and WOW ZONE is designed with this in mind.Moreover, the points earned in WOW ZONE are not just a one-time benefit. The points represent ongoing opportunities for users to engage with the platform and continue earning rewards. This continuous loop of engagement and reward helps to maintain user interest and participation over the long term, ensuring that the WOW EARN community remains vibrant and active.Executive Insight: A Vision for the FutureLooking AheadThe introduction of WOW ZONE is just one of many innovations that WOW EARN has planned for the coming months. As the platform continues to grow, users can expect to see even more features designed to enhance their experience and increase the value of their $WOW token. Future updates will include new tasks, additional reward opportunities, and further integration of WOW ZONE into the broader WOW EARN ecosystem.Additionally, WOW EARN is committed to expanding its community through strategic partnerships and collaborations. These partnerships will bring new tasks and challenges to WOW ZONE, offering users even more ways to earn points and engage with the platform. By continuously evolving and adding value, WOW EARN aims to become the go-to DeFi platform for users looking to participate in a vibrant, rewarding ecosystem.Call to Action: Don’t Miss Out on the Double Points EventWith the launch of WOW ZONE and the double points event now live, the Wow team invites users to join the WOW EARN community. Whether a user is looking to increase their $WOW holdings, engage with like-minded individuals, or simply explore what WOW EARN has to offer, WOW ZONE provides the perfect entry point.Users are encouraged to take full advantage of the double points event before it ends. By completing tasks in WOW ZONE during this period, users have the chance to maximize their rewards.For more information on how to participate in WOW ZONE and details on the double points event, users can visit https://wowzone.wowearn.com.About WOW EARNAs a leading innovator in the blockchain space, WOW EARN is dedicated to connecting users with decentralized opportunities in mining, earning, and trading. Following its strategic move to Layer 1 and a successful $30 million Series A funding round, WOW EARN is well-positioned to drive significant advancements in the DeFi ecosystem.For further information, visit WOW EARN’s: Official Website | Twitter | Telegram | Discord | MediumContactCMOYARAWOW EARN [email protected] article was originally published on Chainwire More

  • 163 Shares199 Views

    in Cryptocurrency

    MEMECON x DCENTRAL Event on September 21 to Bring Memecoin Mayhem to Singapore

    Get ready for an eventful day of celebration as MEMECON and DCENTRAL come together to host the memecoin event of the year! On September 21st, from 12:00 PM to 5:00 PM, the Grand Ballroom at the JW Marriott Singapore South Beach will be transformed into the ultimate hub for memecoin enthusiasts, and it takes place just a 5-minute walk from this year’s Solana Breakpoint.Used for cultural, social and political expression, memes form online communities when they are created and shared. Memes are a cultural phenomenon that have transcended humour to become a digital currency of the internet.Memecoins have gained attention in the crypto space over the past year, becoming a catalyst for blockchain networks to reach and onboard broader audiences. Memes and memecoins have continued to grow in prominence, and chains such as Solana, Base, TON, and Tron have shown interest in participating in this trend to expand their reach. For those that are curious and wanting to know how, why, and what’s the latest being built across the memecoin space in 2024, MEMECON x DCENTRAL Singapore is the place to find out. Participants can join industry leaders and community members as they dive deep into the world of memecoins.In a week filled with major events like TOKEN2049, Solana Breakpoint, ETHGlobal, and F1, MEMECON x DCENTRAL Singapore offers something unique for all audiences. This is the chance for attendees to meet their favorite developers, degen and memecoin communities all under one roof. Whether one is looking to participate, sponsor, or simply immerse themselves in memecoin culture, this event is the place to be.Location: JW Marriott Grand Ballroom, SingaporeFor more information and to secure a spot, readers can RSVP here: https://lu.ma/43isr86yReaders can follow on X:ContactEsther [email protected] article was originally published on Chainwire More