Overseas Headlines – October 12, 2022

October 12, 2022


United States:

US Core Inflation Seen Returning to 40-Year High as Rents Rise

A key US inflation measure due Thursday is set to return to a four-decade high, underscoring broad and elevated price pressures that are pushing the Federal Reserve toward yet another large interest-rate hike next month.



UK Market Is So Bad That a Bank Is Willing to Pay to Avoid It

A UK lender is offering to pay bondholders higher interest to swap debt rather than risk tapping sterling’s chaotic market for fresh cash.



Bank of Korea’s Rhee Warns of Slower Growth After Outsized Hikes

Bank of Korea Governor Rhee Chang-yong acknowledged the difficulty of sticking with outsized interest rate hikes to battle inflation and support the currency after the central bank’s latest move prompted dissent within his board.

The South Korean central bank narrowed the policy gap with the Federal Reserve earlier Wednesday by raising its seven-day repurchase rate by a half-percentage point to a 10-year high of 3%, as expected by 16 of 19 economists surveyed by Bloomberg. The remaining three had forecast a quarter-point move.




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