Overseas Headlines – January 12, 2023

January 12, 2023


United States:

US Inflation Cools Again, Giving Fed Room to Downshift on Rates

A key gauge of US inflation posted a moderate increase in December, adding to evidence that some price pressures are easing and offering the Federal Reserve room to slow the pace of interest-rate hikes next month.

Excluding food and energy, the consumer price index rose 0.3% last month and was up 5.7% from a year earlier, according to a Labor Department report Thursday. Economists see the gauge — known as the core CPI — as a better indicator of underlying inflation than the headline measure.



BOE Made £3.5 Billion Profit on Emergency Bond Market Intervention

The Bank of England made a profit of about £3.5 billion on September’s emergency bond market intervention after selling off the final bonds on Thursday.

The central bank bought almost £19.3 billion of long-term government debt following then-Prime Minister Liz Truss’s disastrous budget last year. The BOE stepped in to prevent a shock in the gilt market from turning into an economic crisis.



Hong Kong to Return as a Top Property Investment Location

Hong Kong has returned to the top five Asia-Pacific investment destinations by property consultancy CBRE for the first time since 2020, thanks to an expected pandemic recovery and low pricing.

The report on real estate investor intentions for 2023 showed the Asian financial hub came in at number five after Tokyo, Singapore, Ho Chi Minh City and Sydney among the most preferred cities for cross-border investments.




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