Fed’s Powell says no rate cuts this year, and markets hear it differently
Feb 2 (Reuters) – Federal Reserve Chair Jerome Powell had a clear message on Wednesday: as “gratifying” as it is that inflation has begun to slow, the central bank is nowhere near to reversing course or declaring victory.”It’s going to take some time” for disinflation to spread through the economy, Powell said in a news […]
Global factory activity contracted again in January, highlighting fragile recovery
U.S. manufacturing sinks further in Jan, but few layoffs – ISMEuro zone factories have passed their trough in activity – PMIChina’s Jan factory activity shrinks – Caixin PMI surveyWASHINGTON/LONDON, Feb 1 (Reuters) – Manufacturing activity across the United States, Europe and Asia contracted again last month, underscoring the fragility of the global economic recovery, although […]
Fed’s words in focus as markets bet rate hikes will soon end
Jan 30 (Reuters) – U.S. central bankers have unambiguously telegraphed this week’s policy decision: a quarter-of-a-percentage-point increase in their benchmark interest rate, the smallest since they kicked off their tightening cycle 10 months ago with one the same size.Less clear is whether they will continue to signal “ongoing increases” ahead for the policy rate as […]
Japan PM says can’t rule out return of deflation despite price spike
TOKYO, Jan 27 (Reuters) – Japanese Prime Minister Fumio Kishida said on Friday that a return to deflation in the world’s third-largest economy cannot be ruled out, because domestic demand remains weak.The comment came hours after data showed Tokyo’s consumer inflation, a leading indicator of Japanese price trends, hit a 42-year high in January, keeping […]
Consumer inflation in Japan’s capital hits near 42-year high, keeps BOJ under pressure
Jan Tokyo core CPI rises 4.3% yr/yr vs f’cast +4.2%Tokyo core-core CPI up 3.0% yr/yr in JanuaryData highlights mounting inflationary pressureGovt fuel subsidies to moderate price gains from FebruaryTOKYO, Jan 27 (Reuters) – Core consumer prices in Japan’s capital, a leading indicator of nationwide trends, rose 4.3% in January from a year earlier, marking the […]
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 […]
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 […]
Gold gains on softer dollar, slower Fed rate-hike bets
U.S. weekly jobless claims data due at 1330 GMTGold benefiting from flight to safety after U.S. data – analystU.S. producer prices fall more than expected in DecemberJan 19 (Reuters) – Gold prices rose on Thursday and are set to snap a three-day losing streak, helped by a weaker dollar and as signs of cooling U.S. […]
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, […]
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 […]