DAKAR (Reuters) -Chad has reached an agreement with the International Monetary Fund for a fresh four-year financial support programme potentially worth about $630 million, under the fund’s Extended Credit Facility, the IMF said on Thursday. WHY IT’S IMPORTANT The requested support comes at a critical juncture for the oil-producing Central African nation which is looking …
Chad seeks $630 million financial support from IMF Read More »
OTTAWA (Reuters) -Canadian retail sales grew by 0.8% in March from February, more than analysts had forecast, and looked set to have increased by 0.5% in April, Statistics Canada data indicated on Friday. The largest increase was the 4.8% gain posted by motor vehicle and parts dealers, the first rise in three months. Analysts suggested …
Canada March retail sales rise 0.8%; seen up 0.5% in April Read More »
BEIJING/SHANGHAI (Reuters) -China has lowered the ceilings on deposit rates, three banking sources with direct knowledge of the guidance said on Friday, as authorities seek to protect banks’ profit margins and discourage savings. The interest rate self-regulatory body under China’s central bank has lowered the upper limit of deposit rates banks can offer their clients, …
China lowers deposit rate ceilings to protect bank interest margins, sources say Read More »
By David Lawder, Promit Mukherjee and Julia Payne BANFF, Alberta (Reuters) -Finance ministers and central bank governors from the Group of Seven democracies papered over their differences on Thursday, pledging to tackle “excessive imbalances” in the global economy and saying they could increase sanctions on Russia. There had been doubt before the meeting whether it …
G7 glosses over tariffs, pledges to cut global economic imbalances Read More »
By Liangping Gao and Ryan Woo BEIJING (Reuters) – Weakness in China’s property sector is expected to persist this year with home prices falling nearly 5% and set to remain stagnant in 2026, as low confidence continues to keep buyers at bay while the Sino-U.S. trade war adds further pressure, a Reuters poll showed. China’s …
MANCHESTER, England (Reuters) -Britain’s consumers turned a bit more confident in May, according to a survey published on Friday that might reflect the impact of falling interest rates and an easing of global trade tensions. Market research firm GfK’s consumer confidence index rose to -20 in May from -23 in April, led by more optimism …
UK consumers turn a little less gloomy in May, GfK survey shows Read More »
By Promit Mukherjee BANFF, Alberta (Reuters) -Bank of Canada Governor Tiff Macklem said on Thursday he expected second-quarter growth to be “quite a bit weaker” than the first quarter, and that it could be worse in subsequent quarters if the uncertainty around U.S. tariffs continued. Macklem, who was addressing a televised press conference along with …
Bank of Canada head warns of weak growth if tariff uncertainty persists Read More »
BANFF, Alberta (Reuters) – Canada’s Finance Minister François-Philippe Champagne said on Thursday that the discussions on tariffs did come up during a G7 finance leaders’ meeting, even though there was mention of them in the final communique that was published. “They are not skating around the fact that tariffs are an issue,” Champagne, who is …
Canada’s Champagne says G7 ministers not ‘skating around’ tariff issue Read More »
SAO PAULO/BRASILIA (Reuters) -Brazil’s government announced on Thursday the need to contain 31.3 billion reais ($5.58 billion) in this year’s budget to comply with the country’s fiscal rules, according to its bimonthly revenue and expenditure report. Before the document was released, Transport Minister Renan Filho had already disclosed the size of the strong cost-cutting effort …
Brazil government announces bulk spending containment, tax hike Read More »
By Kylie Madry (Reuters) -Argentina is easing foreign currency reporting rules to encourage residents to start using an estimated $271 billion in cash dollars squirreled away in mattresses and foreign bank accounts, long held by Argentines as a hedge against decades of economic turmoil. Argentines will be able to use dollars without declaring where they …
Argentina aims to unleash some $271 billion stashed away in mattresses, safes Read More »
