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Asia Pacific markets are mixed; Oil pops on a possible OPEC+ supply cut

The Reserve Bank of Australia expects to raise interest rates by 50 basis points, according to a Reuters poll A Reuters poll of economists expected the Reserve Bank of Australia to raise its benchmark interest rate by 50 basis points to 2.85%. RBA board members said the issue of a slower pace of rate hikes …

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UK government cancels plan to cut taxes on high-income earners at a major bend

“It is clear that the abolition of the 45 pence tax rate has become a distraction from our primary task of addressing the challenges facing our economy,” Finance Minister Kwasi Quarting said in a statement. Rob Penny | Getty Images News | Getty Images The UK government on Monday backed away from a planned repeal …

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Turkey cuts interest rates again despite 80% inflation

The number of Russian tourists to Europe decreased significantly during the summer, but increased in several other destinations, including Turkey (here). Onur Dogeman | soba pictures | Light Rocket | Getty Images Turkey’s central bank surprised markets once again with its decision on Thursday to cut its key interest rate, despite the country’s inflation soaring …

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Bank of England rises 50 basis points, says UK may already be in recession

The Bank of England has warned that the UK will enter a recession later this year. The expected recession is expected to be the longest since the global financial crisis. Vuk Valsik | SOPA photos | Light Rocket | Getty Images The Bank of England voted to raise its policy rate to 2.25% from 1.75% …

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Federal Reserve hike, Bank of Japan, interest rates, currencies

Oil prices rise after Fed raises rates, demand concerns remain Oil prices rose after the third consecutive rate hike by the Federal Reserve. Reuters also reported that Chinese refiners expect the nation to export up to 15 million tons of oil product export quotas for the rest of the year, citing people familiar with the …

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Japan travel stocks rise after report on loosening rules

Expect further rise of the dollar against the yen, says Bank of America The dollar-yen is expected to see further appreciation as Japan’s policymakers are “rather conflicted” about intervening to defend its currency, said Claudio Perón, co-head of fixed income and Asian currencies at Bofa Securities. Although the dollar-yen is approaching levels that have called …

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