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Korea Herald
7 hours ago
- Business
- Korea Herald
Tariff-induced inflation not persistent; rate cuts expected later this year: US Fed governor
US Federal Reserve Gov. Christopher Waller said Monday that he sees room for interest rate cuts later this year amid expectations that sweeping US tariffs are likely to raise unemployment and temporarily push up inflation. Waller, a member of the Board of Governors of the US Federal Reserve System, made the remarks in his keynote speech at the 2025 Bank of Korea International Conference in Seoul on structural shifts and monetary policy. "Given my belief that any tariff-induced inflation will not be persistent and that inflation expectations are anchored, I support looking through any tariff effects on near-term inflation when setting the policy rate," Waller said. "Assuming that the effective tariff rate settles close to my lower tariff scenario, that underlying inflation continues to make progress to our 2 percent goal, and that the labor market remains solid, I would be supporting 'good news' rate cuts later this year," he added. His "smaller-tariff" scenario assumed a 10 percent average tariff on good imports, while sector-specific duties would be negotiated lower over time. The "large-tariff" scenario assumed an average trade-weighted tariff on goods imports of 25 percent, and that would remain in place for some time. "In both cases, I assumed that the tariff increases would lead to a one-time boost to prices that would temporarily raise inflation," Waller said. Following the two-day Federal Open Market Committee meeting last month, the Fed held its benchmark interest rate steady for the third consecutive time, pointing to heightened economic uncertainty and increased risks of higher inflation amid Trump's aggressive tariff policy. The official pointed to "downside risks to economic activity and employment and upside risks to inflation" in the second half of this year. "I do expect tariffs will result in an increase in the unemployment rate that will, all else equal, probably linger. Higher tariffs will reduce spending, and businesses will respond, in part, by reducing production and payrolls," Waller said.
Business Standard
3 days ago
- Business
- Business Standard
Board of Equitas Small Finance Bank approves QIP issue of Rs 1250 cr
At meeting held on 30 May 2025The Board of Equitas Small Finance Bank at its meeting held on 30 May 2025 has approved raising of funds by way of issuance of such number of equity shares or any other eligible securities and / or other securities convertible into equity shares including warrants, or otherwise (collectively Securities) for an aggregate amount not exceeding Rs.1,250/- crore by way of Qualified Institutions Placement (QIP) and / or through any other permissible mode, in one or more tranches. Powered by Capital Market - Live News
Business Standard
4 days ago
- Business
- Business Standard
Board of Samvardhana Motherson International approves NCD issuance up to Rs 8,500 cr
At meeting held on 29 May 2025The Board of Samvardhana Motherson International at its meeting held on 29 May 2025 has approved issuance of rated, listed, unsecured, redeemable, non-convertible debentures of face value of Rs 1,00,000/- each, for an aggregate principal amount of up to Rs 8,500 crore, on a private placement basis, in one or more series / tranches to certain eligible investors permitted to invest in the NCDs. Powered by Capital Market - Live News
Business Standard
4 days ago
- Business
- Business Standard
Board of ITD Cementation India approves change in directorate
At meeting held on 28 May 2025 The Board of ITD Cementation India at its meeting held on 28 May 2025 has accepted the resignation of Piyachai Karnasuta (DIN 07247974) from the position of Non-Executive - Non-Independent Director and Chairman of the Company and Santi Jongkongka (DIN 08441312), Whole time Director designated as Executive Vice Chairman, with effect from the 29 May, 2025, pursuant to sale and transfer of entire shareholding of Italian Thai Development Public Company, Promoter of the Company to Renew Exim DMCC, and consequent change of ownership and control of the Company.
Maroc
6 days ago
- Business
- Maroc
AfDB President Hails Morocco's Progress Under Leadership of HM King Mohammed VI
The president of the African Development Bank (AfDB), Akinwumi Adesina, praised on Monday Morocco's strides under the leadership of His Majesty King Mohammed VI. 'Thanks to His Majesty's enlightened vision, Morocco achieved major progress across multiple sectors', Adesina said during a press conference as part of the AfDB's annual meeting, held on 26-30 May in Abidjan. Regarding the Morocco-AfDB cooperation that he described as 'excellent', Adesina cited numerous projects financed by the African institution, notably the Tanger Med Port and the project of the Nador West Med port complex. 'The AfDB has always and will continue supporting Morocco in its endeavors', he affirmed, noting especially the Kingdom's achievements in matters of generalization of social protection. The AfDB president also commended Morocco's successful organization of the last two editions of the Africa Investment Forum. This year's Annual Meetings are held under the theme 'Making Africa's Capital Work Better for Africa's Development,' focusing on harnessing the continent's human, natural, financial, and commercial resources to fuel Africa's structural transformation. This gathering brings together over 3,000 participants, and marks the 60th annual meeting of the Board of Governors of the Bank and the 51st annual meeting of the Board of Governors of the African Development Fund. MAP: 26 mai 2025
