December 20, 2023
United States:
US Finance Chiefs Expect to Pay Slightly More to Refinance Debt
US finance leaders expect they will have to pay slightly more in 2024 and 2025 to refinance maturing debt but see funding costs decline after that, a survey by Duke University and the Federal Reserve Banks for Richmond and Atlanta found.
Chief financial officers anticipate that rolling over their debt will cost 120 basis points more in 2024 and 70 basis points more in 2025 than when they first took out the financing, according to the quarterly survey, which polled 443 finance executives at public and private companies across the country.
Europe:
UK Inflation Slows More Than Forecast, Fueling Rate-Cut Bets
UK inflation slowed far more than economists forecast in November, a surprise that prompted traders to boost bets the Bank of England will soon have to abandon its higher-for-longer narrative on interest rates.
Consumer prices rose 3.9% from a year earlier, down from 4.6% in October, according to data released by the Office for National Statistics on Wednesday. The slowdown was much sharper than the 4.3% economists had expected. None had predicted prices rising by less than 4.2%.
Asia:
India Growth May Falter if Inflation Stays Elevated, RBI Says
India’s economy will continue to expand at a healthy pace but sticky inflation is hurting consumer demand and has become the main risk to growth, the Reserve Bank of India said in a monthly report released Wednesday.
“On a real-time basis, inflation is hurting discretionary consumer spending and this, in turn, is holding back topline growth of manufacturing companies as well as their capital expenditure,” the RBI said in its State of the Economy report. “If inflation is not brought back to the target and tethered there, there is a strong likelihood that growth may falter.”
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