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POLICY makers are fighting the devil in front of them rather than the goblin lurking around the corner.
LONDON: The world economy is increasingly succumbing to the threat of stagflation reminiscent of its 1970s ordeal, a mounting headache for global finance chiefs already navigating the fallout from the war in Ukraine.
The Philippine peso firmed on Thursday after its central bank raised rates for the first time in more than three years, while Asian shares tumbled on concerns around surging inflation, its impact on retail demand, and the threat of a recession.
HONG KONG (AFP): Asian markets posted big early losses Thursday (May 19), after Wall Street suffered one of its worst batterings in two years in the previous session.
KUALA LUMPUR: The ringgit slid further to open lower at RM4.4 against the US dollar, the lowest since March 2020 following a hawkish stance by the US Federal Reserve (Fed) to tighten its monetary policy.
NEW YORK, May 18 (Xinhua) -- U.S. stocks plummeted on Wednesday as weak earnings from major retailers stoked concerns about the impact of inflation.
NEW YORK, May 18 (Xinhua) -- The U.S. dollar strengthened in late trading on Wednesday as market participants digested the hawkish comments from Federal Reserve Chairman Jerome Powell.
by Matthew Rusling