ECB policymakers spar on rate outlook beyond Feb hike
Knot, Kazimir explicitly back 50 bps hike in MarchLagarde sees significant, steady pace rate riseStournaras, Visco call for cautionInflation high but fallingFRANKFURT/PRAGUE, Jan 23 (Reuters) – European Central Bank policymakers laid out diverging views on future interest rate hikes on Monday, suggesting that moves beyond next week’s half a percentage point increase remain contentious.The ECB […]
Japan warns of dire finances as BOJ struggles to contain yields
Japan’s finances intensified severity to unprecedented pointRounds of extra budget, stimulus measures aggravate financesPublic finance is the cornerstone of a country’s trust – finminEconomic revival comes first before fiscal reform in long runParliament debate begins, all eyes on new BOJ governor nomineeTOKYO, Jan 23 (Reuters) – Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi […]
Brazil and Argentina to discuss common currency
BUENOS AIRES, Jan 22 (Reuters) – Brazil and Argentina aim for greater economic integration, including the development of a common currency, Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez said in a joint article they penned.”We intend to overcome the barriers to our exchanges, simplify and modernize the rules and encourage […]
ECB set to raise rates by 50 basis points in February and March, Knot says
AMSTERDAM, Jan 22 (Reuters) – The European Central Bank (ECB) is set to raise interest rates by 50 basis points in both February and March and will continue to raise rates in the months after, ECB governing council member Klaas Knot said in an interview with Dutch broadcaster WNL on Sunday.”Expect us to raise rates […]
Putin ally warns NATO of nuclear war if Russia is defeated in Ukraine
Medvedev: nuclear powers don’t lose major warsMedvedev tells NATO to think about the risksPatriarch: desire to destroy Russia would mean end of the worldLavrov: We will ‘sober up’ NATO leadersMOSCOW, Jan 19 (Reuters) – An ally of President Vladimir Putin warned NATO on Thursday that a defeat of Russia in Ukraine could trigger a nuclear […]
Gold back up above $1,900 level as dollar loses ground
Jan 18 (Reuters) – Gold reversed course to trade higher on Wednesday as the U.S. dollar pulled back from session highs and expectations of a slower pace of Federal Reserve rate hikes supported prices above the $1,900 threshold.Having dipped in the last two sessions, spot gold rose 0.5% to $1,917.26 per ounce by 1254 GMT, […]
China’s 2022 economic growth one of the worst on record, post-pandemic policy faces test
China Q4 GDP growth slows; 2022 growth one of worst on record2022 GDP grows 3.0%, far below official targetDec factory output, retail sales weak but beat expectationsPopulation shrinks for the first time since 1961Policymakers vow to step up support for economy in 2023BEIJING, Jan 17 (Reuters) – China’s economic growth in 2022 slumped to one […]
Republicans’ debt plan could cause ‘economic catastrophe’ – White House
WASHINGTON, Jan 17 (Reuters) – Republicans’ plan to pay some U.S. debts as they come due but not others is a “recipe for economic catastrophe” that threatens the global economy, the White House said on Tuesday.House Republicans are planning to move a “debt prioritization” measure by the end of March that would call on the […]
Household wealth optimism collapses, global survey shows
Jan 16 (Reuters) – Barely two in five people believe their families will be better off in the future, according to a regular global survey that also identified growing levels of distrust in institutions among low-income households.The Edelman Trust Barometer, which for over two decades has polled the attitudes of thousands of people, found that […]
IMF says fragmentation could cost global economy up to 7% of GDP
WASHINGTON, Jan 15 (Reuters) – A severe fragmentation of the global economy after decades of increasing economic integration could reduce global economic output by up to 7%, but the losses could reach 8-12% in some countries, if technology is also decoupled, the International Monetary Fund said in a new staff report.Tne IMF said even limited […]