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South Korean Think Tank Recommends Gradual Pace of Rate Hikes Due to Economic Risks

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South Korean think tank recommends gradual pace of rate hikes due to economic risks By Reuters

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Economy 2 minutes ago (Nov 09, 2022 10:05PM ET)

(C) Reuters. FILE PHOTO: People walk on a zebra crossing in front of the buliding of Bank of Korea in Seoul, South Korea, July 14, 2016. REUTERS/Kim Hong-Ji

SEOUL (Reuters) – South Korea’s monetary tightening should be done at a gradual pace because of the risks of an economic contraction, the top government research agency said, as it downgraded GDP growth forecasts.

“Monetary policy needs to maintain the tightening policy stance for the time being to keep inflation expectations stable, but its rate hike pace should also consider the possibility of an economic slowdown,” said the Korea Development Institute (KDI) in its biannual economic outlook report released on Thursday.

The state-run think tank said interest rates need to be raised at a gradual pace, given the risks of the economy shrinking sharply, adding that conditions in South Korea do not require rate hikes as steep as those in the United Sates and eurozone.

Asia’s fourth-largest economy is expected to remain in slowdown mode next year with annual gross domestic product (GDP)growth easing to 1.8%, below estimated potential growth rate of around 2%, according to the KDI, a sharp downgrade from the 2.3% pace forecast six months ago.

Growth forecast for this year was also lowered slightly to 2.7% from 2.8% previously, while annual consumer inflation projections were raised to 5.1% and 3.2% for 2022 and 2023, from 4.2% and 2.2%, respectively.

South Korean think tank recommends gradual pace of rate hikes due to economic risks

Fed’s Kashkari: talk of pivot ‘premature,’ on good policy pathBy Reuters – Nov 09, 2022

By Ann Saphir (Reuters) -Minneapolis Federal Reserve Bank President Neel Kashkari on Wednesday said it’s “entirely premature” to discuss any pivot away from the Fed’s current…

BOJ’s Kuroda lays out key debating points on future exit from easy policyBy Reuters – Nov 09, 2022

By Leika Kihara TOKYO (Reuters) -Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Thursday any future debate on an exit from ultra-loose monetary policy will centre on the…

Australia’s central bank says nearer to point when it might pause on ratesBy Reuters – Nov 09, 2022

SYDNEY (Reuters) – A top Australian central banker said on Thursday they might be getting nearer the point when they might be able to pause in raising interest rates, but more…

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(C) 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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Alaska’s Murkowski, Peltola Win Reelection in Latest Trump Rebuke

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Alaska Republican Lisa Murkowski wins re-election to U.S. Senate By Reuters

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(C) Reuters. FILE PHOTO: Republican U.S. Senator Lisa Murkowski from Alaska, running for re-election to the U.S. Senate in the 2022 U.S. midterm elections, appears in an undated handout photo received October 5, 2022. Lisa Murkowski/Handout via REUTERS

WASHINGTON (Reuters) -Republican Senator Lisa Murkowski of Alaska has won reelection, defeating Kelly Tshibaka, a former Republican state official who was endorsed by former President Donald Trump, a tabulation carried out by state officials showed on Wednesday.

Murkowski, 65, has represented Alaska in the Senate since 2002 and has built an independent profile as one of the chamber’s few centrists. Her victory is another setback for Trump, who saw several of his preferred candidates defeated in the Nov. 8 midterm elections.

Murkowski defeated Tshibaka after Alaska finished tabulating all ballots in a publicly broadcast session using its new “ranked choice” system, which allows voters to list candidates in order of preference.

In each round of counting, the candidate with the lowest share of votes is eliminated and the ballots which ranked them first are then redistributed. The candidate with a majority of votes after all ballots have been counted wins.

She would have won even under the old system, as she had a slight edge on Tshibaka after the first round of counting.

Murkowski was the first Republican senator to call for Trump’s resignation after his supporters attacked the U.S. Capitol on Jan. 6, 2021, in an attempt to prevent Congress from certifying Democrat Joe Biden’s 2020 election victory. She later voted to impeach him.

She won reelection as a write-in candidate in 2010 after her party nominated a more right-wing contender.

Alaska Republican Lisa Murkowski wins re-election to U.S. Senate

U.S. Justice Department seeking to question Pence in Jan. 6 probe- NYTBy Reuters – Nov 23, 2022

WASHINGTON (Reuters) -The U.S Justice Department is seeking to question former Vice President Mike Pence as a witness in connection with its criminal investigation into former…

Trump rebuffed by judge in New York fraud lawsuit, trial date setBy Reuters – Nov 22, 2022

By Karen Freifeld and Jonathan Stempel NEW YORK (Reuters) – A New York judge has scheduled an October 2023 trial for former U.S. President Donald Trump, three of his adult…

Alex Jones loses bid to slash $50 million Sandy Hook defamation verdictBy Reuters – Nov 22, 2022

By Jack Queen DALLAS (Reuters) – Conspiracy theorist Alex Jones on Tuesday failed in his bid to slash a nearly $50 million defamation verdict against him over his false claims…

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Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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Sri Lanka Central Bank Holds Rates Steady, Says Mkt Interest Rates Must Fall

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Sri Lanka cenbank holds rates steady as expected amid slowing inflation By Reuters

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Economy 8 minutes ago (Nov 23, 2022 09:31PM ET)

(C) Reuters. FILE PHOTO: People walk past the main entrance of the Sri Lanka’s Central Bank in Colombo, Sri Lanka March 24, 2017. REUTERS/Dinuka Liyanawatte

COLOMBO (Reuters) – Sri Lanka’s central bank held rates on Thursday, adding it expects a moderation in market interest rates in line with the prevailing policy interest rates.

The Standing Lending Facility rate was held steady at 15.50% while the Standing Deposit Facility Rate was kept unchanged at 14.50%.

“The Board was of the view that the prevailing tight monetary policy stance is necessary to rein in any underlying demand pressures in the economy,” the central banks said in a statement.

Sri Lanka cenbank holds rates steady as expected amid slowing inflation

Dollar slips as risk sentiment improves after Fed minutesBy Reuters – Nov 23, 2022

By Ankur Banerjee SINGAPORE (Reuters) – The U.S. dollar was broadly weaker on Thursday as investors, encouraged the prospect of a slower pace of interest rate hikes from the…

Brazil’s electoral court rejects Bolsonaro election challengeBy Reuters – Nov 23, 2022

BRASILIA (Reuters) -The head of Brazil’s electoral court Alexandre de Moraes on Wednesday rejected a complaint from President Jair Bolsonaro’s allies to challenge the presidential…

S.Korean central bank hikes rates by 25 bps, slows tightening paceBy Reuters – Nov 23, 2022

By Cynthia Kim and Jihoon Lee SEOUL (Reuters) – South Korea’s central bank raised interest rates by a more modest 25 basis points on Thursday, slowing the pace of policy…

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Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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U.S. FDA Denies Australian Dairy Accelerated Approval to Sell Infant Formula

Clayton Lee

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U.S. FDA denies Australian Dairy accelerated approval to sell infant formula By Reuters

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World 12 minutes ago (Nov 16, 2022 09:45PM ET)

(Reuters) -Australian Dairy Nutritionals Group said on Thursday its application for accelerated approval to vend the dairy firm’s branded infant formula in the United States has not been accepted by the country’s Food and Drug Administration (FDA).

Antipodean dairy companies have been queuing up for necessary approvals since May after the United States faced a nationwide shortage of baby food.

The FDA’s temporary approval process was only available until Nov. 14, but the dairy firm can now apply for registration via a normal process to sell the infant milk formula products, it said.

“We are advanced in preparing our toddler milk – stage 3 – for launch in the United States next year,” it added.

New Zealand’s a2 Milk Co earlier this month received approval to export infant milk formula to the United States.

U.S. FDA denies Australian Dairy accelerated approval to sell infant formula

Democrat Bass wins race for Los Angeles mayor, defeating CarusoBy Reuters – Nov 16, 2022

By Dan Whitcomb LOS ANGELES (Reuters) – Karen Bass, a Democratic U.S. congresswoman, was projected on Wednesday to beat Rick Caruso in the race for Los Angeles mayor, becoming the…

Ukraine conflict intensifies in east; NATO, Poland say missile likely not from RussiaBy Reuters – Nov 16, 2022

By Dan Peleschuk, Anna Jaworska-Guidotti and Sabine Siebold KYIV/PRZEWODOW, Poland/BRUSSELS (Reuters) -Ukraine said it faced fierce fighting in the east from Russian troops that…

North Korea vows ‘fiercer’ military responses to U.S., alliesBy Reuters – Nov 16, 2022

By Hyonhee Shin SEOUL (Reuters) -North Korea warned on Thursday of “fiercer military responses” to U.S. efforts to boost its security presence in the region with its allies, state…

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(C) 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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