Tag Archives: inflation

Beijing, China | Xinhua | The U.S. Federal Reserve announced earlier this month the fourth consecutive three-quarter point interest rate hike to cool record levels of inflation, another aggressive move leaving economists fearing a recession ahead. The Fed has committed to hawkish rate hikes to fight inflation while standing by as …

Washington, U.S. | Xinhua | U.S. President Joe Biden said on Wednesday that 2022 midterm voters are “frustrated,” as control of the next Congress is still up in the air. “The voters were also clear that they’re still frustrated,” Biden told reporters at the White House. “I understand it’s been a …

San Fransisico, U.S. | Xinhua | Meta Platforms Inc., the parent company of Facebook, said on Wednesday that it would lay off 13 percent of its staff, or more than 11,000 employees. The mass layoffs result from a sharp reduction of the company’s value amid a crumbling advertising market and decades-high …

Kampala, Uganda | THE INDEPENDENT | The Deputy Governor of the Bank of Uganda, Michael Atingi-Ego has told parliament that the country’s public debt has now hit 80 trillion Shillings. He says that Uganda’s debt servicing in the current financial year 2022/2023, is at a ratio of tax revenue estimated at …

Brussels, Belgium | Xinhua | The European economy is slowing down and a contraction is predicted at least for the winter months due to the energy crisis and high inflation, European Commissioner for Economy Paolo Gentiloni warned on Monday. “If we look at high-frequency indicators and the economic sentiment, we see …

Washington, U.S. | Xinhua | The U.S. central bank raised the benchmark lending rate by 0.75 percentage point last week, the fourth increase of that size and the sixth hike this year, bringing its key rate into a range of 3.75 percent to 4 percent, the highest in 15 years. The …

Kampala, Uganda | Xinhua | Uganda is grappling with double-digit inflation as spillover effects of the global economic decline filter through the domestic economy, the country’s central bank, Bank of Uganda (BOU) has said. Domestic inflation hit double digits for the first time in a decade, rising to 10 percent in …

Uganda’s real GDP expanded 4.9% y/y in Q2 22, marginally weaker than the prior quarter’s 5.1%, following a marked moderation in import taxes. The pace of growth is anticipated to slow in H2 2022 as households navigate a higher inflation and lending rates environment. Economic growth will average about 4.3% …

About 44 percent of Britons are having to cut back on food spending as a result of rising food prices London, UK | Xinhua | British households are being weighed down by a worsening cost-of-living crisis and public skepticism toward the government’s economic policy is on the rise as the country’s …

Why government policy to control inflation at 5% under whatever circumstances is misguided THE LAST WORD | ANDREW M. MWENDA | A fetish is an inanimate object (like a small stone or wood curving of something like an animal) that is worshipped for its supposed magical powers. That is what …