world economic news

World Economic News – Thursday 08/12/2022



The central bank of Brazil left its key Selic rate steady at 13.75% for a third consecutive meeting on Wednesday (Dec. 7), in line with market expectations, and hinted at tightening further if inflation fails to slow as expected.


The Bank of Canada has raised its overnight rate by 50 basis points to 4.25% on Wednesday (Dec. 7), marking its seventh rate hike in nine months. The last time the bank’s policy rate was this high was in January 2008.


Australia posted a merchandise trade surplus of A$12.217 billion in October, the Australian Bureau of Statistics said on Thursday (Dec. 8). That exceeded expectations for a surplus of A$12.1 billion.


Labor productivity in the US  climbed by 0.8% in the third quarter compared to the previously reported 0.3% uptick,  revised data released by the Labor Department on Wednesday (Dec. 7) showed.


Japan’s economy contracted by 0.8% in the third quarter on a yearly basis, according to the second report by the Cabinet Office on Thursday (Dec. 8).