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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (190112)	7/22/2022 12:22:50 PM
From: maceng2	Respond to of 219422

Ukraine Devalues Hryvnia to Adjust to War-Time Economic Reality Central bank sees inflation slowing to about 21% next year Moves come on the heels of Ukraine’s debt-freeze proposal By Volodymyr Verbyany and Daryna Krasnolutska 21 July 2022 at 08:16 BSTUpdated on21 July 2022 at 13:51 BST Ukraine’s central bank devalued the hryvnia and said it may keep interest rates at 25% for another two years to protect its dwindling foreign-currency reserves as Russia’s invasion ravages the economy. The National Bank of Ukraine said the “shift in the fundamental parameters” of Ukraine’s economy during the war, along with the dollar’s strengthening, triggered the currency adjustment. It set the official hryvnia rate at 36.5686 per dollar compared with 29.25, where it had been frozen for the past five months. The devaluation comes a day after Ukraine’s request to postpone foreign-debt payments won support from key creditors, including the US. The currency will be fixed at the new level after hryvnia trading was suspended and capital controls tightened in February in a bid to help the government import crucial goods during wartime. “This will give the authorities more breathing room to cope with the financial pressures,” said Kaan Nazli, an economist & portfolio manager at Neuberger Berman Asset Mgmt Irl Ltd. While inflation is set to tick higher on the move, Nazli said, prices are “much more affected by supply-chain disruptions” due to war, hence “there is little to be gained from propping up the currency.” Ukraine’s dollar bonds due in 2033 were little changed on Thursday, trading near 18 cents on the dollar, compared with 25 cents at the start of the month and more than 80 cents before Russia’s invasion. War Costs The central bank said that price growth could top 30% by December but decline to about 21% next year. The economy probably shrank about 40% in the second quarter, compared with a year earlier, according to its forecasts. The central bank expects the main rate to stay at 25% until at least the second quarter of 2024. Ukraine may reach a new deal with the International Monetary Fund as soon as next year, it said, without going into details. “Improved attractiveness of hryvnia assets, coupled with the change in the official exchange rate and additional economic policy measures, will dampen demand on the FX market,” the central bank said in a statement. “Taking into account the planned inflows of official financing, this will help support the sufficient level of international reserves and thus maintain macro-financial stability.“ The monetary authority said it could theoretically finance the government budget with as much as 30 billion hryvnia per month, a level in line with previous plans, without triggering “serious” inflationary pressure. The government has been slow in adjusting yields on its bonds after June’s 15 percentage-point rate hike. Keeping the hryvnia strong in past months has taken its toll on Ukraine’s international reserves, as the war slashed the country’s foreign income. Exporters became reluctant to convert hard-currency inflows at the official rate, which didn’t take into account nearly half a year of economic deterioration. “This step will improve the competitiveness of Ukrainian producers, converge exchange-rate conditions for different groups of businesses and households, and support the resilience of the economy during the war,” the central bank said. — With assistance by Netty Idayu Ismail

To: maceng2 who wrote (190112)	7/22/2022 10:19:02 PM
From: TobagoJack	1 Recommendation Recommended By fred woodall Read Replies (2) \| Respond to of 219422

I love <<kippers>> I get the smoked versions here in HK supermarket, and they go well with scrambled eggs for breakfast de-boned, a wonderful processing detailing I have also <<spent my weekends idly>> ... <<and taking life easily>>, such that all days are work days and all days are holidays, as before, but with one big difference, that whenever the kids have time for me, even if with me as just a chaperon, I take the opportunity. Yesterday, Friday, I goofed off the 11:30 - 3:30 chaperoning Jack and his friend Steve whilst catching up on some YT documentaries after viewing some curations of news / analysis, and then idled away 3:30 - 6:00 suffering reflexology whilst napping Amusing listening to Jack and Steve discussing course selections for grade 6 that might lead to college attendance :0) I fight the heat by taking in watermelon juice, but our heat apparently pale against those in other parts, an unusual happening Suspicion about the macro in 2H, do not like what I suspect, but perhaps, just maybe, who can know, the cryptos are now much closer to bottom than upside. Unclear yet re Gold. Stocks? more down, or much more down.