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The Reserve Bank of Zimbabwe has announced a 1333 basis point cut in the key policy rate to 130 percent, down from 150 percent, due to a decline in inflation. The high interest rates have helped curb speculative borrowing, but the potential negative impact on economic growth has been addressed through the Medium-Term Bank Accommodation facility. The bank aims to stabilize the currency and exchange rate and anchor inflation expectations between 2 and 5 percent annually. The government has implemented various measures to stabilize inflation and exchange rate volatility. [Extracted from the article]

Hungary's central bank is taking a more cautious approach to cutting interest rates due to multiple risks, according to Gyula Pleschinger, a member of the Monetary Council. After a year of rate cuts, Pleschinger expects a terminal rate of around 6.5% to 7% by June. The central bank is preparing for a new phase of monetary policy, signaling the end of 75 basis-point monthly cuts. The budget deficit and expectations of a delay in monetary easing by the Federal Reserve are among the risks. The impact on the forint, Hungary's currency, is important due to its effect on inflation. Pleschinger emphasized the need to avoid heightened forint swings. The government's $1.8 billion savings package to meet an upwardly revised deficit goal of 4.5% of GDP is not enough, according to Pleschinger, as there is still a sizable hole in the budget. [Extracted from the article]

The Central Bank of Kenya has unexpectedly raised its benchmark interest rate to 13%, the highest level since 2012, in order to address inflation risks and support the shilling. This decision, which was only anticipated by two out of eight economists surveyed, marks the third rate hike since Governor Kamau Thugge took office in June. The move is part of a tightening cycle that began in May 2022 and has resulted in a total increase of 600 basis points. The decision caused bonds to fall and the yield on Kenya's 10-year eurobond due 2032 to increase. The central bank cited elevated inflation risks and the need to stabilize prices and the exchange rate as reasons for the rate hike. The International Monetary Fund also expects inflation to rise in the first half of the year due to global oil price volatility and exchange rate pass-through. [Extracted from the article]

Kenyan inflation has increased to a three-month high due to a weakening shilling, which has led to higher prices for food and electricity. Consumer prices rose by 6.9% in January, compared to 6.6% the previous month. The central bank's monetary policy committee will need to address this issue in their upcoming meeting, as they aim to bring inflation down to the target range of 5%. The recent interest rate hike has not been effective in stabilizing the currency, which has depreciated by almost 5% against the dollar. The International Monetary Fund predicts that inflation will continue to rise in the first half of the year due to global oil price volatility and exchange rate pass-through. [Extracted from the article]

Kenyan inflation has increased for the first time in three months due to a decline in the value of the shilling, leading to higher prices for food, gas, and other fuels. Consumer prices rose by 6.9% in January, matching the expectations of economists. The central bank's monetary policy committee will need to address this issue in their upcoming meeting, as they aim to bring inflation down to the target range of 5%. Despite a recent interest rate hike, the shilling continues to struggle, depreciating almost 5% against the dollar. The International Monetary Fund predicts that inflation will continue to rise in the first half of the year due to global oil price volatility and exchange rate pass-through. [Extracted from the article]

(Bloomberg) -- Israel's central bank underscored the urgency of steadying the shekel following its slide to an eight-year low, shifting expectations among economists and traders who bet on a big interest-rate cut as soon as next week. "The Bank of Israel initiated its latest announcement to cool expectations of an interest-rate reduction created in markets", said Alex Zabezhinsky, chief economist at Meitav DS Investments. [Extracted from the article]

Keywords: Stockholm; Sweden; Europe; CDC and FDA EN Stockholm Sweden Europe CDC and FDA 865 865 1 06/26/23 20230630 NES 230630 2023 JUL 2 (NewsRx) -- By a News Reporter-Staff News Editor at Medical Letter on the CDC & FDA -- Data detailed on CDC and FDA have been presented. Keywords for this news article include: Stockholm, Sweden, Europe, CDC and FDA, Stockholm University. [Extracted from the article]

Dr Mangudya said the key message from the 2023 monetary policy statement announced last week was that RBZ would maintain a restrictive monetary policy stance to strike a balance between stability of prices and the exchange rate and macro-economic growth. Continued implementation of key fundamentals in the country will result in a positive outlook in the macro-economic environment characterised by low inflation this year on, according to the Central Bank. The exchange rate, Dr Mangudya said, is being used as an anchor of the monetary policy because the country is using a dual currency system, the Zimbabwe dollar and the United States dollar. [Extracted from the article]

The central bank will not aim at slowing economic growth to curb inflation as Thai price gains are due to higher costs rather than demand, Piti said. (Bloomberg) -- Thailand faces the risks of inflation quickening further from a 14-year high if the baht continues to weaken, according to the central bank. [Extracted from the article]

The central bank will not aim at slowing economic growth to curb inflation as Thai price gains are due to higher costs rather than demand, Piti said. (Bloomberg) -- Thailand faces the risks of inflation quickening further from a 14-year high if the baht continues to weaken, according to the central bank. [Extracted from the article]

(Bloomberg) -- India's intervention to protect the rupee is running down currency reserves at a rate that's poised to eclipse the drawdown during turmoil a decade ago. Read: Depleting Reserves Spell Risks for Emerging Asian Currencies "Falling FX reserves, persistently-high commodity prices, limited exchange rate pass-through to inflation and elevated INR valuations will likely tilt the balance towards a less interventionist FX policy in coming months", Madhavi Arora, lead economist at Emkay Global Financial Services Ltd., said in a note. [Extracted from the article]

With central banks unleashing the most aggressive tightening of monetary policy in a generation to cool surging inflation, investors have been selling off riskier assets and buying US dollars. (Bloomberg) -- Inflation in Ghana accelerated at a faster pace than expected in July as a slump in the value of the cedi raised the cost of imported goods like cooking oil and gasoline. [Extracted from the article]

The Central Bank is vested with instrument independence by the Law to use the monetary policy tools to reduce inflation permanently. A: The Central Bank's monetary policy is shaped by common understanding by the Monetary Policy Committee, which is chaired by me, and composed of a total of seven members. (Bloomberg) -- Turkey's newly appointed central bank Governor Sahap Kavcioglu provided written answers to questions from Bloomberg about central bank independence, reserves and monetary policy. [Extracted from the article]

The International Monetary Fund (IMF) praised Pakistan for making considerable progress in advancing reforms and continuing with sound economic policies. Meanwhile, Pakistan expressed its inability to increase the electricity prices as demanded by the International Monetary Fund (IMF) due to its impact on inflation, which has already touched the highest level. [Extracted from the article]

Ghana's central bank has additional space to loosen policy thanks to the global move toward lower interest rates, as long as inflation slows, according to Governor Ernest Addison. Ghana's inflation rate fell to a record-low 9% in January, from 19.2% in early 2016 while the central bank has cut its policy rate by 10 percentage points to 16% over the same period. While an industry lobby estimated as many as 4,000 jobs may be lost among second-tier lenders alone, Addison said the potential impact had been exaggerated and that the net employment loss would be about 3,000 across the financial sector. [Extracted from the article]

Ghana's central bank has additional space to loosen policy thanks to the global move toward lower interest rates, as long as inflation slows, according to Governor Ernest Addison. Ghana's inflation rate fell to a record-low 9% in January, from 19.2% in early 2016 while the central bank has cut its policy rate by 10 percentage points to 16% over the same period. While an industry lobby estimated as many as 4,000 jobs may be lost among second-tier lenders alone, Addison said the potential impact had been exaggerated and that the net employment loss would be about 3,000 across the financial sector. [Extracted from the article]

Policy stability has reduced currency's effect on inflation South Africa's central bank doesn't target a level for the rand, and has repeatedly said it won't take policy action in support of the currency unless weakness feeds through to wider inflation. [Extracted from the article]

Banxico slows pace of tightening after 4 half-point hikes Mexico's central bank slowed the pace of monetary policy tightening while delivering a fifth consecutive rate increase, after the inflation rate rose to the highest since the 2009 recession. [Extracted from the article]

U.K. factories saw costs rise at a record pace at the start of 2017, pointing to increasing upward pressure on inflation that could weigh on the economy this year. The pass-through from the exchange rate is also an issue for the Bank of England, which will publish new forecasts for growth and inflation on Thursday alongside its latest policy decision. [Extracted from the article]

The article focuses on the low prices of crops in the U.S. and also mentions the prices of crops in Mexico have increased due to exchange rate movements.

Banxico's Sanchez Says Peso's Inflation Impact Has Been "Modest" Mexico's inflation has been "very well behaved" and pass-through from the peso's depreciation to consumer prices has been moderate, deputy central bank Governor Manuel Sanchez said in an interview. Central bank steps to keep inflation in check have helped minimize the secondary effects of the currency's weakness, said Sanchez, who is widely seen by economists as one of the most hawkish members of the central bank board led by Agustin Carstens. [Extracted from the article]

The impact of currency moves on inflation have weakened in the 19-nation euro region, a European Central Bank study showed on Wednesday. "An expansionary domestic monetary policy shock will be followed by a euro depreciation, with a direct inflationary effect on import prices", the ECB said. [Extracted from the article]

To contact the reporter on this story:Tshepiso Mokhema in Johannesburg at tmokhema1@bloomberg.netTo contact the editors responsible for this story:Alastair Reed at areed12@bloomberg.netAna Monteiro, Nicholas Larkin Attribution Tshepiso Mokhema: by reporter Nicholas Larkin: editor Alastair Reed: editor responsible Ana Monteiro: editor. [Extracted from the article]

The pause in the South African central bank's policy tightening cycle may be short-lived as it forecast increasing risks for inflation from a weaker rand and food prices. Attribution Amogelang Mbatha: by reporter Andre Janse van Vuuren: editor Rene Vollgraaff: editor responsible Xola Potelwa: by reporter Thembisile Augustine Dzonzi: assist Michelle Gumede: assist Mike Cohen: by reporter Simbarashe Gumbo: assist. [Extracted from the article]

A persistent breach of the South African Reserve Bank's inflation target will require a policy response even as the country's economic growth outlook weakens, the central bank's Deputy Governor Daniel Mminele said. "However, a persistent breach of the inflation target range will require a policy response to achieve sufficiently low inflation". The inflation trajectory has increased significantly during the last three months with price pressures coming from a weaker exchange rate and rising food prices, Mminele said, according to the speech. [Extracted from the article]

The Canadian economy's complex structural adjustment to the oil price shock is ongoing and will dampen growth throughout the Bank's projection horizon. Total CPI inflation is below the 2 per cent target and will likely ease further before returning to 2 per cent as the effects of exchange rate pass-through and lower consumer energy prices unwind and the economy's excess capacity diminishes. The next full update of the Bank's outlook for the economy and inflation, including risks to the projection, will be published in the MPR on 13 July. [Extracted from the article]

Mexican policy makers voted unanimously to keep the key interest rate unchanged at their meeting last month, with some board members saying they saw the possibility of shifts in borrowing costs independent of the U.S. Federal Reserve, according to the minutes released Friday. Attribution Vivianne Rodrigues: editor responsible Philip Sanders: editor Robert Jameson: editor Nacha Cattan: by reporter. [Extracted from the article]

Mexico kept its overnight interest rate unchanged after the peso's rebound from a record low eased inflation pressures and the Federal Reserve left borrowing costs on hold. Economic weakness in Mexico and the peso's recent appreciation, along with a rise in global oil prices and a dovish Fed, make it more likely the central bank will remain on hold for longer, according to Bank of America Corp. [Extracted from the article]

Uganda's inflation rate could climb to double digits this year under pressure from rising food and energy prices and the effects of a depreciating currency, the central bank said. December's annual inflation rate was 8.4 percent, from a revised 9.3 percent, after the nation changed the base year of its index to 2009-10. [Extracted from the article]

Nigeria, Africa's biggest oil producer, has resisted devaluing its currency despite a plunge in crude revenue, imposing foreign-currency controls instead that are undermining economic output. While government debt burdens are rising, the average for 45 sub-Saharan Africa countries is still below 40 percent of gross domestic product, with most of the debt being concessional loans, Sayeh said. [Extracted from the article]

Real yields on lira bonds climb to highest since 2011 The yield on South Africa's two-year government debt adjusted for inflation was 2.3 percent while the yield on equivalent Russian bonds was negative 4.8 percent. [Extracted from the article]

Poloz says the jump in core inflation probably reflects the effects of a weaker dollar, down 10 percent against it's U.S. counterpart over the past 12 months, and isn't due to underlying price pressures in the economy. If the economy doesn't grow in the first quarter, as the central bank expects, it would mark only the second time over the past decade where core inflation has surpassed two percent in a quarter where the economy has been flat or shrunk. [Extracted from the article]

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. Inflation is close to the 2 per cent target and is evolving as the Bank anticipated in its July Monetary Policy Report (MPR). Overall, the risks to the outlook for inflation remain roughly balanced, while the risks associated with household imbalances have not diminished. [Extracted from the article]