Money Briefs : Wholesale inflation soars in India

Wholesale inflation soars in India

NEW DELHI • India's wholesale inflation last month surged more than estimated to the highest since July 2014, supporting the central bank's shift to a "neutral" monetary stance.

Wholesale prices rose 5.25 per cent in January from a year earlier, the Commerce Ministry said yesterday.

Persistent core inflation may keep central bank governor Urjit Patel from adding to seven interest rate reductions that began January 2015, according to economists.

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Protectionism will 'hurt world's poor'

JAKARTA • The anti-trade mood sweeping parts of the world will hurt global efforts to pull millions of people out of poverty, according to Indonesian Finance Minister Sri Mulyani Indrawati.

The former World Bank managing director said on Monday that she is worried about the threat from rising barriers to trade at a time when "populist sentiment has been translated into political rhetoric and policy, which is really against the wider need".

Anxiety is growing in emerging markets, particularly in Asia, as US trade policies turn more protectionist under President Donald Trump.

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A version of this article appeared in the print edition of The Straits Times on February 15, 2017, with the headline 'Money Briefs'. Print Edition | Subscribe