July 4, 2024
United States:
US-Led Debt Increase Across G-7 Stokes S&P and Scope Concerns
Relentlessly rising debt in the US and rich-world peers was highlighted by two credit-assessment companies, with S&P Global Ratings warning that only acute market pressure can alter the trajectory.
The analyses of Group of Seven and equivalent economies intensifies the spotlight on their borrowing in a week when two face elections, and after the Bank for International Settlements cautioned that governments are vulnerable to a precipitous loss of confidence.
Europe:
ECB Officials Looked Past Some Inflation Worries With Rate Cut
European Central Bank officials looked past concern over longer-term inflation in cutting interest rates last month — arguing that waiting for a fully complete picture on prices would make them act too late, an account of their policy meeting showed.
Policymakers convening in Frankfurt on June 5-6 deemed assumptions that energy and food inflation would move below longer-term averages in 2026 highly uncertain, according to the summary, published Thursday.
Asia:
Thai Central Bank Head Signals Steady Rate, Stable Inflation
The Thai central bank’s benchmark interest rate is consistent with policymakers’ growth and inflation outlook, Governor Sethaput Suthiwartnarueput said as he remains unmoved by government calls for rate cuts.
“The current rate is supportive for economic recovery and financial stability,” Sethaput said Thursday in Bangkok in his first meet-the-press event this year. The Bank of Thailand is ready to adjust if the situation changes and it’s not closing the door on possibilities, he said.
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