Nigerian banks require up to one month to provide customers with dollars for their offshore expenses, a move that will limit access to the currency at a time when the central bank is squeezing supplies to banks, industry sources said on Wednesday.
Africa risks sliding into stagflation - a cycle of slow growth and high inflation - as it battles the lingering effects of the pandemic and rising fuel and food prices caused by the Ukraine conflict, the African Development Bank said on Wednesday. Despite experiencing relatively low death rates compared to more developed regions, Africa was dealt a heavy economic blow by the COVID-19 pandemic.
Africa risks sliding into stagflation - a cycle of slow growth and high inflation - as it battles the lingering effects of the pandemic and rising fuel and food prices caused by the Ukraine conflict, the African Development Bank said on Wednesday. Despite experiencing relatively low death rates compared to more developed regions, Africa was dealt a heavy economic blow by the COVID-19 pandemic.
The Mexican peso edged up on Wednesday
after the country posted stronger-than-expected growth numbers,
but gains were capped by a rebound in the dollar ahead of
minutes from the U.S. Federal ...
Wall Street ended higher Wednesday after the release of minutes from the Federal Reserve's latest monetary policy meeting, which showed policymakers unanimously felt the U.S. economy was very strong as they grappled with reining in inflation without triggering a recession.
China will strive to achieve reasonable economic growth in the second quarter and stem rising unemployment, official Xinhua news agency quoted Premier Li Keqiang as saying on Wednesday. The cabinet announced a package of policy steps earlier this week, including broader tax credit rebates and postponing social security payments and loan repayments to support the economy.
Benchmark U.S. Treasury yields
fell on Wednesday to briefly hit six-week lows after data showed
that new orders for U.S. made capital goods rose less than
expected in April, and before the Federal ...
The Baltic Exchange's main sea freight index fell on Wednesday, as rates declined across the larger vessel segments. * The overall index, which factors in rates for capesize, panamax, supramax shipping vessels, lost 126 points, or 3.9%, to 3,127. * The capesize index dipped 301 points, or around 7%, to 3,987 points.
New orders for U.S.-made capital goods increased less than expected in April, suggesting businesses could be slowing their pace of spending on equipment as they confront growing headwinds from rising interest rates and tightening financial conditions.
* Core capital goods orders increase 0.3% in April. * Shipments of core capital goods rise 0.8% * Durable goods orders gain 0.4%; shipments up 0.1% By Lucia Mutikani.
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