Overseas Headlines – March 23, 2022

United States:

BA.2 Variant Takes Hold in U.S. as New York Cases Start to Climb

“More than a third of last week’s U.S. Covid-19 cases were caused by the omicron BA.2 subvariant, a notable increase from a week earlier when the strain was estimated to account for just under one in four cases, according to the U.S. Centers for Disease Control and Prevention.”



Sunak Cuts U.K. Taxes by £6 Billion to Fend Off Inflation Surge

“Rishi Sunak announced a 6-billion pound ($7.9 billion) tax cut for workers and signaled a future cut in income tax as he sought to shield ordinary Britons from a squeeze on living standards that’s been worsened by the war in Ukraine.”



Singapore Core Inflation Cools While Acceleration Risks Loom

“Core inflation in Singapore cooled slightly last month but is expected to pick up further in the near-term, setting the stage for further policy tightening by the country’s central bank in the coming weeks. The core consumer price index tracked by the Monetary Authority of Singapore — which excludes private transport and accommodation costs — rose by 2.2% in February, below the median forecasts in a Bloomberg survey for a 2.6% increase and the 2.4% pace in January.”



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