The opinion on Turkey’s unorthodox monetary policy mix is turning as rapidly as global growth forecasts are being revised down.
The White House could face the embarrassing possibility of President Barack Obama hosting the annual APEC leaders summit in November without managing to win approval of free trade pacts with South Korea, Colombia and Panama.
from Photographers' Blog:
On June 13, 2002, when South Korea, Japan and the rest of the world were captivated by the 2002 FIFA World Cup, a 50-tonne U.S. army vehicle crushed two South Korean schoolgirls to death during a drill in Yangju, north of Seoul. The girls, Shin Hyo-soon and Shim Mi-seon, both 14, were on their way to a friend’s birthday party.
from Eric Burroughs:
There’s a lot of excitement around the sharp outflows seen from emerging markets in the latest figures from EPFR Global. But this story is getting a little overplayed. Asian central banks have heard the message on the need to tighten policy, with Bank Indonesia following the Bank of Korea in surprising with a rate hike in the past few weeks. The positive response to the BI rate increase, with the rupiah rising and local bond yields dropping, show that the central bank showed the inflation-fighting resolve that investors were looking for, even if inflation is being exacerbated by food price run-ups beyond the control of monetary policy.