Global Economic

Global Economic – The global economy is the worldwide system of trade, production, and finance that connects countries. It involves the exchange of goods, services, and money across borders, driven by businesses, governments, and consumers. This system shapes jobs, wealth, and growth everywhere.

Inflation Weakness Helped Spur Rate Cut

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Gold Silver Reports — A “broad-based” weakening of inflation pressures helped persuade Australia’s central bank that the economy would be assisted by an interest-rate cut even as the growth outlook remained steady. Central bank considered waiting for more data in May decision.

While Reserve Bank of Australia board members considered holding the cash rate unchanged so they could await more information, policy makers on May 3 opted to cut the benchmark by a quarter point to 1.75 %, according to the minutes of its latest policy meeting.   

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Central Bank Owners in Revolt Over $140 Payout

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Gold Silver Reports – In the wake of World War I, Mustafa Kemal Ataturk set out to create a central bank that would steer his new Turkish Republic through the wreckage of the Ottoman Empire and end its dependence on London and Paris. He implored people to invest and thousands did, many with their life savings.

It was a great bet, at least on paper — the bank is now the most profitable joint-stock company in Turkey, earning $5.6 billion last year alone. But the Treasury took the lion’s share, leaving the 6,000 or so individuals who own a combined 14 percent stake just $140 to divvy up.

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Better Data on New Economy; China’s Statistics

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Gold Silver Reports — The new head of China’s statistics bureau last month visited a Beijing district that’s home to some of the biggest technology companies to deliver the message that his agency must improve tracking of the new economy “as soon as possible.”

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Dollar Slump Buys Crude Oil, Gold

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Dollar Slump Buys Crude Oil, Gold

Gold Silver Reports — U.S. equities fell, erasing gains as what is forecast to be the worst American earnings season since the financial crisis gets under way. The dollar tumbled to a nine-month low, boosting commodity prices.

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