National income data showed a disinflationary shift in the composition of growth
While second-quarter national income data revealed a supportive transition toward disinflation in domestic demand, numerous developments took place across global markets and the domestic agenda.
National income data announced for the second quarter of the year signaled the long-awaited disinflationary shift in the composition of growth. Along with this development, numerous significant headlines impacting the economic agenda were followed both domestically and globally.
Shift in the Composition of Growth
The recently announced national income data clearly demonstrated that shifts supporting the disinflation process have taken place in the structure of economic growth.
Global Markets and Monetary Policies
While the rise in the yen parity triggered expectations of intervention in the markets, statements regarding inflation from the New York Fed President drew attention.
Energy and Trade Developments
The Netherlands decided to transfer a portion of its national gold reserves from the US to London. On the corporate front, Uber announced it would lay off three thousand three hundred people, while Chevron revealed a seven billion dollar investment plan in Venezuela.
Domestic Regulations
In accordance with official decisions published in the Official Gazette, the withholding tax rate applied to money market funds was brought to the level of ten percent.