Overseas Headlines – July 11, 2022

July 11, 2022


United States:

Fed’s George Warns Raising Rates Too Fast Risks ‘Oversteering’

Federal Reserve Bank of Kansas City President Esther George, who dissented last month against the US central bank’s jumbo 75 basis-point increase in interest rates, cautioned that rushing to tighten policy could backfire.



Battered Euro Edges Ever Closer to Parity as Dollar Runs Rampant

Europe’s common currency edged closer toward parity with the US dollar Monday as energy concerns and the risk of recession weighed on the outlook for the euro area, while risk aversion fueled a broad rally in the greenback.



India Rate Setter Eyes Larger Hikes to Return Inflation to Goal

India’s central bank may need to raise interest rates more aggressively to anchor inflation within its 2%-6% target, according to Shashanka Bhide, a member of the rate-setting panel.




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