By Nyasha Chingono HARARE (Reuters) – The International Monetary Fund (IMF) on Wednesday encouraged Zimbabwe to speed up currency reforms at the end of a staff visit, saying authorities should move towards a market-driven exchange rate and remove distortions currently in place. The visit discussed Zimbabwe’s request for an IMF staff-monitored programme, part of the …
IMF says Zimbabwe should speed up currency reforms Read More »
By Chris Mfula LUSAKA (Reuters) -Zambia’s central bank raised its benchmark lending rate for the fifth meeting in a row, it said on Wednesday, citing a further deterioration in the inflation outlook. The bank raised its policy rate by 150 basis points to 12.5%. Inflation in the southern African country rose to 13.2% year-on-year in …
Zambia raises key rate as inflation outlook deteriorates Read More »
WINDHOEK (Reuters) – Namibia’s central bank kept its main interest rate unchanged for the fourth meeting in a row on Wednesday, sticking to its forecasts for this year’s economic growth and inflation. The southern African country’s repo rate has been at 7.75% since June 2023. “With real interest rates remaining positive, and slow credit growth, …
Namibia central bank keeps repo rate and key forecasts unchanged Read More »
By Natalie Grover, Noah Browning and Ahmad Ghaddar LONDON (Reuters) – A push to replenish depleted oil stocks notably in China, the United States and Europe could buoy demand and prices in coming months, analysts and traders said, as tensions in the Middle East threaten key shipping lanes. Heavily depleted by supply disruptions wrought by …
China, US-led global refill of depleted oil stocks seen buoying demand Read More »
By Caroline Valetkevitch NEW YORK (Reuters) -Global stock market indexes dropped, the 10-year U.S. Treasury yield hit a 2-1/2-month high and the dollar touched a three-month peak against the yen on Tuesday after data showed U.S. inflation slowed less than expected in January. The U.S. consumer price index report pushed back market expectations that any …
Stocks fall, dollar and yields gain after hot US inflation data Read More »
By Georgina McCartney Houston (Reuters) -Oil prices settled higher on Tuesday as geopolitical tensions continued in the Middle East and eastern Europe, but gains were curtailed as investors reined in expectations for the U.S. Federal Reserve interest rate cuts. Brent futures settled 77 cents higher or 0.94% at $82.77 a barrel at 2:30 p.m. EST …
Oil up on geopolitical tension, gains capped by fading Fed rate-cut hopes Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar rose to three-month peaks on Tuesday, after data showed U.S. inflation rose more than expected in January, reinforcing expectations that the Federal Reserve will hold interest rates steady in March. The greenback also topped 150 yen for the first time since November following the data. Tuesday’s data …
US dollar rises to three-month high after inflation data, surges past 150 yen Read More »
JOHANNESBURG (Reuters) -The South African rand weakened on Tuesday after local mining production figures disappointed, and as U.S. inflation data pushed the dollar to a three-month peak. At 1512 GMT, the rand traded at 19.1000 against the U.S. dollar, about 1% weaker than its previous close. The dollar was up about 0.68% against a basket …
South African rand weakens after mining data, U.S. inflation Read More »
By Alex Lawler LONDON (Reuters) -OPEC on Tuesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025 and raised its economic growth forecasts for both years saying there was further upside potential. The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will …
OPEC sticks to oil demand view, sees better economic growth Read More »
By Joe Bavier and Boureima Balima JOHANNESBURG/NIAMEY (Reuters) – Days after Burkina Faso, Mali and Niger announced last month they were quitting the West Africa political union ECOWAS, Burkina Faso’s military ruler Ibrahim Traore was already naming his next target: the region’s CFA franc currency. “It’s not just the currency. Anything that maintains us in …
Analysis-For West African juntas, CFA franc pits sovereignty against expediency Read More »
