The US dollar continues to strengthen against the euro in trading on Thursday after jumping the day before at the results of the meeting of the Federal Reserve System (FRS).
The American Central Bank raised the base interest rate on Wednesday by 75 basis points (bp) to 3-3.25% per annum. Fed Chairman Jerome Powell said during a press conference following the meeting on the need for further rate hikes to curb inflation.
The median forecast of Fed officials suggests that the rate will reach 4.4% per annum by the end of this year and will be 4.6% by the end of 2023.
The euro/dollar pair is trading at $0.9828 as of 09:05 Moscow time on Thursday, compared to $0.9839 at the close of the previous session. On the eve of the euro lost 1.31% against the dollar.
“The Fed, in addition to another 75 bp rate hike on Wednesday, signaled that it sees the need to keep rates high for a long time,” said Sophia Ng, a currency analyst at MUFG Bank, quoted by Dow Jones.
The yen exchange rate against the dollar updated a 24-year low on Thursday after the publication of the results of the meeting of the Bank of Japan.
The Japanese Central Bank left unchanged the main parameters of monetary policy: the short-term interest rate on deposits of commercial banks in the Central Bank was left at minus 0.1% per annum, the target yield on ten-year government bonds is about zero.
The Bank of Japan also confirmed that it intends to keep the rate “at the current level or below.”
As of 9:05 Moscow time, the dollar/yen pair is trading at 144.89 yen against 144.08 yen at the close of the previous session. During the auction, the dollar rose to 145.37 yen.
The pound sterling depreciates against the dollar ahead of the Bank of England meeting. The pound dropped to $1.1241 from $1.1271 the day before.
Experts believe that the British Central Bank may raise the base rate on Thursday by 75 bp, which will be the highest increase since 1989. In this case, the rate will reach 2.5% per annum.
The ICE-calculated index, which shows the dynamics of the dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona), adds 0.89%, the broader WSJ Dollar Index – 0.31%.
U.S. President Joe Biden and British Prime Minister Liz Truss discussed Ukraine, energy and economic security during the first official talks since she headed the British government, the White House reported on Wednesday.
“We want closer cooperation with the US, in particular on energy and economic security issues, as well as reaching out to other democracies around the world to ensure the triumph of democracies,” Truss said, quoted by the US administration.
In turn, Biden told Truss that he expects further close cooperation between the United States and Britain, and that they have a lot to do together.
“I look forward to working closely with you, our closest ally in the world,” the US president said.
Truss also added that she is “very eager to work with the US to make sure we support the Ukrainians.”
The government of Ukraine plans to attract $37.9 billion to finance the state budget deficit and $13.6 billion for restoration, the largest contribution is expected – $18 billion and $6.5 billion respectively – from the United States through USAID, such data are given in the presentation of the project state budget-2023.
According to information on the website of the Ministry of Finance, it is assumed that assistance from the United States will be monthly: for the budget – $1.5 billion, and for recovery – from $0.4 billion to $0.6 billion.
The second most important source of budget financing in the presentation is the IMF – $ 15 billion: $ 2 billion each in January, February and September, $ 1.6 billion in June, $ 0.6 billion – in August and from $ 0.8 to 1.1 billion – in the rest months.
As for macro-financial assistance from the EU and other sources, it is expected to be restored in the amount of $7.1 billion – monthly at $0.6 billion, except for $0.5 billion in December. While state budget funding from this source is projected at $4.9 billion: $1.9 billion in the first quarter, $1.3 billion in the second, $0.2 billion in the third and $1.3 billion in the fourth.
Finance Minister Serhiy Marchenko specified that this year, as part of negotiations with international partners, Ukraine has already received $19 billion in financial support, of which almost 50% is grant funds.
“By the end of the year, we plan to raise about another $17 billion in additional funding,” he said, presenting the draft state budget in the Rada on Wednesday.
The leader of the entertainment industry Parimatch Ukraine and the sports OTT-platform Setanta Sports continue the exclusive cooperation for 3 more sports seasons until 2025. The agreement is valid on the territory of Ukraine and includes broadcasting rights for more than twenty of the most popular sports events: The English Premier League, Bundesliga, Scottish Premier League, NBA, NHL, UFC, ATP, WTA, Wimbledon, Formula 1, Belgian Super League, FA Cup, Euroleagues, Eredivisie etc.
“Parimatch is developing on the wavelength of global trends and innovations — the latest technological solutions find implementation in our product on the platform. Together with Setanta Sports, we will use the potential of two platforms and create a single ecosystem of sports fans. After all, the combination of sports content, betting and entertainment creates an exciting experience for users,” – Parimatch Ukraine CEO Nataliya Hilevich commented.
“Setanta Sports is an international brand, and therefore it is important for us to have relations with large and reliable partners in the market. The continuation of this agreement was also important for us, because we had long negotiations and finally, we reached an agreement, which means cooperation with Parimatch for another 3 years. Within this partnership, a lot of interesting projects will be implemented for both Setanta Sports and Parimatch customers, in order to make the experience of sports fans even more interactive and exciting,” – Tamara Badashvili, Deputy CEO of Setanta Sports.
setantasports.com is the first sports OTT platform on the Ukrainian market that works on a subscription model.
The number of applicants for apartment rental in Kyiv in September for the first time during the full-scale war exceeded pre-war figures, the press service of the LUN new buildings portal reported.
According to data from the apartment rental app Bird, as of September 20, the number of applicants for apartments rental has reached 120% of the pre-war level. A month ago, in mid-August, demand reached the February level, and in July it was 90%.
According to the press service of LUN, in September, housing prices halted growth compared to the previous month. The median price for renting a one-room apartment in Kyiv fixed at UAH 9,000 in September, which is the same as in August. In July, the figure was UAH 8,000, while at the end of February, the median price for renting one-room apartments was UAH 13,000 per month.
The median price for renting two-room apartments in September slightly decreased compared to August – from UAH 15,000 to UAH 14,000. In July this figure was UAH 12,500, before the war – UAH 21,600.
At the same time, the median price for renting three-room apartments decreased from UAH 24,900 in August to UAH 20,200 in September, which is the same as in July. Until February 24, such housing cost UAH 46,100.
Florian Bollen, a German businessman and co-owner of craft breweries German Kraft Beer, Tarantino Family restaurant chain is coming under the control of Florian Bollen, the chain’s website says.
“From October 1, 2022, the Tarantino Family will come under the control of the German businessman and co-owner of craft breweries Florian Bollen. The new owner already owns the German Kraft Beer chain in London, plans to invest and develop the restaurant market in Kyiv,” the message says.
Bollen’s LinkedIn indicates that the businessman will take over the restaurant chain.
“The start of work in Kyiv will be a great confirmation of our belief in the victory of the Ukrainians and a good example for European investors,” he commented.
The Tarantino Family network in Kyiv includes restaurants “Rukkola”, “Murakami”, Villa Riviera and others, in total 28 objects. Among the owners of the network is Dmitry Fedotenkov.
As reported, the capital’s law enforcement officers are investigating the criminal activities of the owners of a well-known restaurant chain for the legalization and withdrawal of funds in the Russian Federation. According to the Kyiv prosecutor’s office, citizens of Ukraine – the owners of a large restaurant chain – retained control over the business in the territory of the aggressor country, transferring it to the management of a Russian restaurateur. The name of the network was not called, but later information spread in the media that it was about the Tarantino Family.
