July 22, 2022
Powell Seen Slowing Fed’s Hikes After 75 Basis Points Next Week
Federal Reserve Chair Jerome Powell is likely to slow the pace of interest-rate increases after front-loading policy with a second straight 75 basis-point hike next week, economists surveyed by Bloomberg said. They expect the Federal Open Market Committee to lift rates by a half percentage point in September, then shift to quarter-point hikes at the remaining two meetings of the year.
UK Set for Most Expensive Summer Weekend Electricity on Record
The summer weekend is no break from soaring UK power prices that are underpinning inflation and a worsening cost-of-living crisis.
Day-ahead power prices usually tumble over the weekend when demand declines, especially during long summer days that delay the need to turn on the lights. But with natural gas prices surging, electricity costs this weekend are far above levels that would be considered high even in most winters.
India’s Forex Reserves Fall to Lowest in More Than 20 Months
India’s foreign exchange reserves fell to their lowest in over 20 months as the central bank stepped up its intervention to protect the rupee from tumbling past 80 a dollar.
The reserves fell $7.5 billion to $572.7 billion as of July 15, data by the Reserve Bank of India released Friday showed. The reading is the lowest since November 6, 2020. In the first two weeks of July, the Indian central bank saw its reserves falling $15.5 billion, most of it defending the currency.
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.