Global
Inflation expectation low
The New York Fed’s Survey of Consumer Expectations found that one-year inflation expectations fell to 5.79% in January from 5.99% the previous month, the lowest since October and the first decline since October 2020, while median inflation expectations for the three-year period fell a stunning 0.52 percentage points to just 3.48%, the lowest since last April.
G7 finance ministers Statement
The G7 finance ministers issued a statement on the 14th expressing “grave concern” over Russia’s military build-up on the Ukrainian border. The statement also warned that “any further military aggression by Russia against Ukraine will be met with a swift, coordinated and robust response” and that “we are prepared to collectively impose economic and financial sanctions that will have a significant and immediate impact on the Russian economy”.
U.S. Embassy in Ukraine closed
On Monday, February 14, U.S. Secretary of State John Blinken announced that he had ordered the closure of the U.S. Embassy in Ukraine in Kiev and would “temporarily” transfer the few diplomatic staff remaining in Kiev to the western Ukrainian city of Lviv. Blinken reiterated his call for US citizens in Ukraine to leave the country as soon as possible.
In a statement, Blinken said the decision was made primarily to protect the safety of staff, but also stressed that the decisions do not change the US commitment to Ukraine and that the US will remain in communication with Russia to work towards a diplomatic solution.
Australia
BHP record dividend
BHP has paid a record interim dividend for the third consecutive year . The $US1.50 ($2.10) a share interim dividend announced on Tuesday amounted to $US7.6 billion of fully franked shareholder returns, and came after BHP announced a $US9.71 billion underlying profit for the past six months.
ASX low
The S&P/ASX200 is lower today, dropping 36.50 points or 0.50% to 7,207.40. The bottom performing stocks in this index are BEACH ENERGY LIMITED and RESMED INC, down 7.38% and 3.84% respectively.
