June 12, 2024
United States:
US Inflation Broadly Cools in Encouraging Sign for Fed Officials
A key measure of underlying US inflation stepped down for a second month in May, a pleasant surprise for Federal Reserve officials looking for signs that they can start to lower interest rates.
The so-called core consumer price index — which excludes food and energy costs — climbed 0.2% from April, Bureau of Labor Statistics figures showed.
United Kingdom:
Britain’s ‘Quiet Quitters’ Are Costing the Economy £257 Billion
The UK economy lost more than £257 billion ($327 billion) in potential output because of demotivated workers last year, adding to a productivity crisis that’s left the country falling behind other wealthy nations.
Just one in 10 UK workers were classified as “engaged” at work, which means putting in discretionary effort on the tasks they’re asked to do, according to Gallup research published Wednesday that tracked a slow erosion in motivation over the last decade.
Asia:
Thailand Holds Key Rate Again as Economy, Inflation Pick Up
Thailand’s central bank left its key interest rate unchanged for the fourth straight meeting as an improving economy and a pick-up in inflation gave it more legroom to resist the government’s calls to ease policy.
The Monetary Policy Committee voted 6-1 to maintain the one-day repurchase rate steady at a decade-high 2.50% at Wednesday’s meeting, as predicted by 21 of the 24 economists surveyed by Bloomberg. The dissenting committee member voted to lower the rate by a quarter point, citing structural challenges to Thailand’s recovery and the debt-servicing burden on borrowers.
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