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The leaders of Brazil, Russia, India, China, and South Africa meet at the annual BRICS Summit. New Delhi, India, 29 March 2012

The Rise of BRICS, De-Dollarization, and the Global Economy

In the short term, the process of de-dollarization is exploiting the current state of the business cycle in the US and EU. Just a small decrease in the number of transactions in which the dollar is denominated will cause a…

Markets Dip after US Federal Reserve Decision, Hungarian National Bank Cuts Interest Rates Again

The Fed is not cutting the federal interest rate, and is keeping it at 5.5 per cent, the highest it has been since the early 2000s. Meanwhile in Hungary, the National Bank cut interest rates on 31 January….

Finance Minister Stresses Importance of Maintaining Disciplined Fiscal Policies

The minister stressed the importance of maintaining disciplined fiscal policies this year, aiming for an annual average inflation rate of around 5 per cent. He firmly asserted that until the inflation rate returns to a more moderate range, fiscal spending…

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