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Turkish central bank raises inflation target
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Information unique to its summary
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Information unique to summary from multiple countries, from articles in English
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Information unique to summary from the United Kingdom, from articles in English
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Turkey's central bank put its credibility on the line yesterday after it sharply raised its inflation targets for the next three years in the teeth of soaring energy and commodity prices. (article 1)
The move won the backing of the government, with which the bank has seemed to be at odds in recent months because of a conflict between monetary policy, which is being tightened, and fiscal policy, which is being loosened. (article 1)
Brazil's central bank was expected to raise interest rates again on Wednesday night as the country's inflation outlook continued to worsen. (article 3)
Consumer price inflation has risen above the government's target rate of 4.5 per cent a year in recent months and was 5.25 per cent in the year to mid-May. (article 3)
Australia's resource-driven economy grew twice as fast as expected in the opening quarter, propelled by increased household and construction spending and a rise in government defence expenditure. (article 4)
Sterling suffered on Wednesday after a survey suggested the UK services sector had contracted in May for the first time in five years. (article 6)
The economy expanded by an annualised 3.6 per cent in the first quarter, a better-than-expected result in view of the global slowdown, and just on the nose of the government's full-year projection for 2008. (article 7)
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Raise, cut or hold? It is a measure of the difficulties facing the British economy that the Bank of England could convincingly do any of these to interest rates today. (article 1)
The spectres of inflation on the one hand and a painful economic slowdown on the other suddenly look equally menacing, and equally probable. (article 1)
Yesterday we learnt that output from the services sector, the main engine of the British economy, is shrinking for the first time in five years. (article 1)
The Chancellor's upper estimate of 2.75 per cent for 2009 now looks, by OECD standards, like wishful thinking. (article 1)
The owners of B&Q, the hardware stores that thrive when people have the money to spruce up their kitchens and bathrooms but suffer when they put home improvment on hold, yesterday reported a slowdown in business so far this year. (article 1)
More importantly, they cautioned that things will get worse in the coming months, when the full impact of the housing market slowdown is felt. (article 1)
Every week another 27,000 UK households come off favourable home loan deals and abruptly find themselves paying significantly higher mortgage bills. (article 1)
For homeowners, the steady supply of happy pills provided by 15 years of consistently rising house prices has been rudely snatched away. (article 1)
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Source articles
- Turkey increases inflation targets (ft.com, 06/05/2008, 415 words)
- Turkish central bank raises inflation target (ft.com, 06/04/2008, 528 words)
- Spending threat to Brazil inflation policy (ft.com, 06/04/2008, 594 words)
- Australian economy shows unexpected resilience (ft.com, 06/04/2008, 438 words)
- Recession: it's right to be hawkish -Times Online (timesonline.co.uk, 06/05/2008, 646 words)
- Services gloom hits sterling (ft.com, 06/04/2008, 542 words)
- Economy: Inflation fears fail to dent confidence about growth (ft.com, 06/02/2008, 872 words)
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Source articles
- Recession: it's right to be hawkish -Times Online (timesonline.co.uk, 06/05/2008, 646 words)
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Other stories about inflation, cent and Bank:
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inflation, cent, Bank, Bernanke, rates |
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