International News 13/11
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Tax Hikes to Exacerbate UK's Cost-of-Living Crisis.
The ongoing rise in food price inflation is placing increased pressure on consumers in the UK. Supermarkets in the country have cautioned that planned tax increases by the government will have a further detrimental impact on price increases. According to market researcher Kantar, grocery price inflation for the four weeks leading up to November 3, 2024, increased by 2.3% compared to the previous four-week period's inflation of 2%. The greatest increases in prices were seen for cold soft drinks and chocolate confectionery, while prices for items such as toothbrushes, household paper products, and sparkling wine decreased. British supermarkets have also voiced concerns about tax increases in the new Labor government's budget and another rise in the national minimum wage, warning that these will contribute to inflation. Kantar noted that grocery sales for this period increased by 2% year-on-year to ￡11.6 billion. The researcher also found that some consumers have begun their Christmas shopping early, with 648,000 shoppers already purchasing Christmas cookies.
Jelang Natal, Inflasi Bahan Makanan di Inggris Kembali Meningkat
The Influence of Trump's Cabinet on Nickel Downstream Development in Indonesia.
Fabby Tumiwa, Executive Director of the Institute for Essential Services Reform (IESR), believes that the cabinet composition of the president-elect of the United States, Donald Trump, will have an impact on the development of nickel downstreaming in the country. Trump had previously indicated that, if re-elected as president, he would revoke mandatory electric vehicle (EV) regulations, citing them as a waste of budget. However, Fabby suggests that Trump's statements might be campaign rhetoric, and it remains to be seen how his words will translate into action once he announces his cabinet. Additionally, Fabby notes that the United States is a federal country, with policies determined at the state and local levels. This means that the impact of Trump's presidency on the nickel industry in Indonesia is uncertain. Overall, the composition of Trump's cabinet will play a crucial role in determining the future of nickel downstreaming in the country.
Nasib Hilirisasi Nikel RI Bakal Terpengaruh Susunan Kabinet Trump?
Trump's Election Changes the Course of the Federal Reserve's Interest Rate Policy.
In the wake of Donald Trump's election victory, the Federal Reserve is poised to alter the trajectory of its interest rate cuts, with the Fed Fund Rate (FFR) likely to undergo a shift. In light of the anticipated inflationary impact of Trump's election on the United States, expectations for aggressive interest rate cuts next year have diminished. Chief Economist of PT Bank Mandiri Tbk. Mr. Andry Asmoro noted that the market is currently exhibiting a relatively risk-averse sentiment towards emerging markets, largely due to this expectation. Consequently, the likelihood of an interest rate reduction in December has decreased from over 80% to 60%. Prior to Trump's election, it was anticipated that US interest rates would decline by 75 basis points in the remaining two months of 2024 and by 125 basis points in 2025. However, the Federal Reserve had already reduced its benchmark interest rate by 25 basis points in early November. This latest cut follows a 50-basis point reduction in September, resulting in a total cut of 75 basis points. The Federal Reserve had previously increased interest rates by 525 basis points between March 2022 and July 2023.