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China s Delta Outbreak Curbs Spending, Prompting GDP
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The pickup in price growth comes with the Bank of Korea mulling rate hikes before the end of the year. BOK Governor Lee Ju-yeol has signaled he’s preparing to start normalizing policy to prevent asset bubbles from worsening, but he’s also said the timing depends on a recent surge in virus infections to over 1,000 new cases a day.
“This adds to the bundle of reasons the BOK has cited recently as it seeks to raise its rate,” said So Jaeyong, an economist at Shinhan Bank in Seoul. “But the BOK might feel it necessary to hold back at this month’s meeting because of the uncertainty that has emerged from the latest coronavirus outbreaks.”
Here’s who wins and who loses from the surge in commodity prices
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The world’s recovery from the coronavirus pandemic has sent prices for energy, metals and food soaring, helping big commodity exporters while hammering those nations that buy the bulk of their raw materials from others.
Commodities as a whole have risen more than 20% this year, and around 50% in the case of crude oil. The Bloomberg Commodity Spot Index is at a decade high and heading for its fourth-straight monthly increase. Big Oil companies and miners, awash with cash, are returning billions of dollars to shareholders through dividends and buybacks.
Massive Stimulus Looks Here to Stay as BOE to Echo Fed: Eco Week
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German Inflation Jumps to Highest in More Than a Decade
Jul 30 2021, 9:44 AM
July 29 2021, 6:07 PM
July 30 2021, 9:44 AM
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Germanyâs inflation rate jumped to the highest level since 2008 as coronavirus restrictions were lifted and the economy reopened.
The July increase to 3.1% exceeded economistsâ estimates for a 2.9% reading and will likely fuel the debate over whether the surge in inflation will ultimately fade.
Price are being boosted by several special factors, such as a reversal of last yearâs sales-tax cut and changes to the basket of goods and services.
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