The Central Bank of China lowered the yuan against the dollar to the level of 2020

Against the backdrop of coronavirus outbreaks in several regions of the country, the Central Bank of China lowered the yuan against the dollar. It amounted to approximately 6.8 yuan, the lowest figure since 2020. This was announced by the Central Bank. Since the end of April, the bank began to depreciate the national currency against … Read more

The decline in industrial prices so far slows down consumer inflation // Price monitoring

In July, compared to June 2022, producer prices of goods decreased by 2.2%, in annual terms, their growth rates decreased to 6.1% against 11.3% in June, Rosstat estimated. The deflation of selling prices in the industry is in line with the expectations of companies (see Kommersant of June 29) and has been observed for the … Read more

Labor migrants set a record // Monitoring of the labor market

In the second quarter of 2022, a record number of labor migrants entered Russia, according to a review by the consulting company FinExpertiza, based on migration statistics from the Ministry of Internal Affairs. In April-June of this year, their number reached 3.12 million people, which exceeds the figures for the same period over the past … Read more

The US labor market did not notice the recession // Monitoring of the world economy

The unemployment rate in the US in July, despite the reduction in the country’s GDP in the first half of the year, fell from 3.6% to 3.5%, 528 thousand jobs were created during the month, according to data from the US Department of Labor. Over the previous four months, the average monthly increase in the … Read more

Increase in global balances // IMF predicts growth in global surpluses and deficits

Rising energy prices and the conflict in Ukraine will further increase the global current account balance this year to $3.9 trillion (3.8% of global GDP), according to a new report from the International Monetary Fund (IMF). An excess of global volume of deficits and surpluses, according to the organization, can increase protectionism and increase trade … Read more

World food prices continue to decline // Infographics

The FAO Food Price Index continues to decline for the fourth consecutive month from the record highs recorded in March. In July, the average value of the index was 140.9 points, which is 13.3 points, or 8.6%, lower than in June. This is the sharpest decline since October 2008, according to FAO materials. It is … Read more

The Bank of England made its bet // The British regulator supported the trend towards tightening monetary policy

The Bank of England on Thursday, following the US Federal Reserve System and the European Central Bank, decisively raised the interest rate – by 50 basis points at once, to 1.75% per annum. This was the most significant increase in the indicator over the past 27 years. In this way, the regulator is trying to … Read more

How oil and gas revenues of the budget changed // Infographics

The volume of additional oil and gas revenues associated with rising oil prices in July turned out to be lower than planned by 74.7 billion rubles, the Finance Ministry said. As follows from the materials of the department, the total volume of oil and gas revenues in July amounted to 770.5 billion rubles, which is … Read more