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Fears grow for fourth rate hike after Australia sees higher-than-expected July inflation
BusinessDraft

July inflation beats forecasts, stoking fears of fourth RBA rate hike

The Australian Bureau of Statistics reported that the Consumer Price Index rose by 3.5% in July, exceeding the 3.3% forecast. The Reserve Bank of Australia’s preferred underlying inflation measure remained at 3.6%, increasing the likelihood of a fourth interest rate hike this year, potentially as early as September, to meet the 2.5% inflation target.

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BusinessDraft

Shein to list at quarter of previous valuation

The Chinese e-retailer is preparing to enter the public markets at a valuation of approximately US$25 billion, a significant reduction from its previous peak.

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