Eurozone Inflation Eases But ECB Likely To Keep Interest Rates On Hold: MIDF Research Finds

Consumer prices slip to 2.5% but core rate stays high, prompting little belief in further cuts in borrowing costs, news reports cited recently MIDF Research said the ECB will keep its interest rate status quo for Jul-24 policy rate.

Business Today21:54 ET

Market Chatter: Singapore Manufacturing PMI Dips in June, Electronics Sector Shines

However, the electronics PMI rose slightly to 51.2 from 51.1, showing resilience, the report said.

MT Newswires21:50 ET

Singapore's Manufacturing Recovery Seems on Track -- Market Talk

Singapore's manufacturing sector recovery this year remains intact, DBS economist Chua Han Teng says, noting it is an encouraging sign that the headline PMI and electronics PMI indexes expanded for the 10th and eighth consecutive month, respectively, in June.

WSJ21:36 ET

Singapore PMI Hits Fastest Growth in 20 Months as Business Activity, New Sales Grow

Singapore's private sector growth accelerated in June, with the S&P Global Singapore Purchasing Manager's Index reaching 55.2, up from May's 54.2.

MT Newswires21:22 ET

Lagarde: High inflation in the Eurozone is not all due to the "Taylor Swift Effect".

Christine Lagarde, president of the European Central Bank, said on Tuesday that Taylor Swift's "Reputation" tour is not the only factor driving high inflation in the eurozone. Despite the service industry inflation remaining high last month at the G20, it cannot be solely attributed to the stimulating effect of the "Haylor" concert on consumer spending. Lagarde said in an interview, "You know, this is not just about Taylor Swift. Others have come too." Lagarde was responding to questions about whether Swift's tour had pushed up service industry inflation.

環球市場播報20:02 ET

Another European Central Bank official has signaled! Committee Member Makhlouf: We expect to only cut interest rates once this year.

According to Zhītōng Cáijīng, Gabriel Makhlouf, the Governing Council member of the European Central Bank and Governor of the Central Bank of Ireland, said that he is satisfied with another interest rate cut this year because he needs more time to ensure that the inflation rate is on track toward 2%. According to reports, Makhlouf said during the European Central Bank forum held in Sintra, Portugal, "I am confident about the expectation of another interest rate cut." He said, "I think it may have been a bit too much to expect two rate cuts as early as the beginning of July. I’m not saying I exclude that possibility." Meanwhile, several European Central Bank officials have also lowered interest rates in June this week.

Zhitong Finance19:25 ET