Other news

Analysts forecast that the housing prices in New Zealand will decrease by 18% compared with the maximum value. This is more than their earlier forecasts. Such a decrease was caused by the sharp growth of interest rates which damped an already slowing housing market.

In November, manufacturing activity in Japan contracted at the fastest pace in two years.

Throughout November, U.S. Federal Reserve (Fed) officials advocated a more moderate pace of interest rate increases, thus implying a 50 basis point increase. In their view, if the current pace remains, the Fed's policy may become overtightening.

The central bank of Mexico is taking the example from the FRS in its decision on the key rate. On Wednesday, Bank of Mexico board member Jonathan Heath claimed that

The head of the Reserve Bank of New Zealand (RBNZ) said Thursday that interest rates must be raised in order to curb inflation. In this regard, the country may enter recession.

As ECB governing council member Mario Centeno stated in his recent interview with Reuters, the European Central Bank needs to hold back the pace of tightening from next month.

On Thursday, oil prices tumbled following an ease in fears of supply disruption. Investors’ sentiment recovered on the news that the Group of Seven nations (G7) agreed a plan to impose a high price cap on Russian oil.

On Wednesday, the Bank of England announced plans to sell some long-dated and index-linked gilts. These gilts were purchased by the bank in the period from September 28 to October 14 in order to provide stability to the financial markets.

BOE’s Top Economist Huw Pill declared that the bank should increase the interest rate level more. It is necessary to curb the inflationary pressure which becomes more dependent on inner factors.

The U.S. dollar fell significantly on Thursday. This is because investors, convinced of the prospect of slower interest rate hikes by the Fed, began to bet on riskier assets.