Economy

Turkish central bank raises interest rate to 46 percent
Turkish central bank raises interest rate to 46 percent
by  AFP

Turkey's central bank hiked its key interest rate to 46 percent on Thursday after a month of protests over the arrest of Istanbul's opposition mayor and economic uncertainty provoked by US President Donald Trump's sweeping tariffs.

Trump's tariff storm a threat to dollar's dominance?
Trump's tariff storm a threat to dollar's dominance?
by  AFP

As President Donald Trump's tariffs threaten the US economy, questions are being asked about how long the dollar can maintain its status as the world's key trading and reserve currency. - The dollar initially gained on news of Trump's tariffs owing to concerns the levies will push up inflation.

Trump clashes with Fed chief Powell over interest rates
Trump clashes with Fed chief Powell over interest rates
by  AFP

US President Donald Trump blasted Federal Reserve chairman Jerome Powell on Thursday for not lowering interest rates, calling him "always TOO LATE AND WRONG." "Powell's termination cannot come fast enough," Trump wrote on his Truth Social platform. "Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now."

EU hopes Trump tariffs can nudge Mercosur deal past finish line
EU hopes Trump tariffs can nudge Mercosur deal past finish line
by  AFP

The spectre of a transatlantic trade war is also fuelling hopes of a silver lining in Europe: that a commerce deal with four South American countries could get a final green light despite longstanding French opposition. In exchange, the South American nations would be able to export meat, sugar, rice and soybeans, which worries European farmers concerned about cheaper goods pricing them out.