The US PPI will come out on Thursday, May 12, at 15:30 MT time.
South Korea signals broad tax lifts
South Korea requires raising taxes broadly on the general population, and with the affluent taxed to a greater degree for the purpose paying for more jobs as well as welfare programs, as the head of the country's presidential jobs committee, Lee Yong-sup informed on Thursday.
The statesman told that advanced countries are used to collecting approximately 25% of GDP in taxes. In 2017, South Korea’s tax burden hit 19.3%. It’s absolutely wrong, the statesman told. +
Lee told that affluent South Koreans ought to pay more taxes, though the statesman didn’t specify the taxes, which would be lifted first.
It turned to be the first official hint of scheduled tax increases by the administration of President Moon Jae-in. This liberal took office on May 10.
Previous authorities have grappled with tax hikes, though negative public sentiment along with a general slowdown in the South Korean economy had made it extremely difficult to impose higher taxes.
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.