Reuters US Economy

US has plans for sovereign wealth fund but no final decisions made, White House says

8 May 2025

(Reuters) -The U.S. Treasury and Commerce departments have formulated plans for a sovereign wealth fund but no final decisions have been made, a White House spokesperson said on Wednesday. “The Administration remains committed to using every tool available to deliver on President Trump’s directive to safeguard America’s national and economic security,” the spokesperson said in …

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South Korea FX reserves drop to lowest in 5 years on market stabilising efforts

7 May 2025

SEOUL (Reuters) -South Korea’s foreign exchange reserves dropped to the lowest level in five years in April, caused by market stabilising measures to ease the impact of global trade volatility. Reserves stood at $404.67 billion at the end of April, down $4.99 billion, central bank data showed on Thursday, marking the lowest level since April …

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Sri Lanka gets $1 billion from World Bank, jobs in focus

7 May 2025

NEW YORK (Reuters) -The World Bank said on Wednesday it has earmarked more than $1 billion to support job creation and private sector growth in Sri Lanka over three years. “The initiative aims to expand economic opportunity, strengthen local industry, and attract private capital to support long-term growth,” the bank said in a statement. The …

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Mexico central bank has room to lower benchmark rate as economy slows, Heath says

7 May 2025

By Ana Isabel Martinez and Aida Pelaez-Fernandez MEXICO CITY (Reuters) -There is still room for Mexico’s central bank to lower its benchmark interest rate as the country’s economy slows, deputy governor Jonathan Heath said in a podcast with lender Banorte published on Wednesday. Last month, the Bank of Mexico cut its interest rate 50 basis …

Mexico central bank has room to lower benchmark rate as economy slows, Heath says Read More »

Fitch says “challenging” for Indonesia to grow 5% this year

7 May 2025

JAKARTA (Reuters) -It will be a challenge for Indonesia’s economy to grow 5% this year due to the global trade war and softening consumer spending, but a moderation won’t put the country’s ratings at risk, Fitch’s head of Asia-Pacific Sovereigns said on Wednesday. The global ratings agency has trimmed its 2025 growth forecast for Southeast …

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Bank of Korea minutes suggest another interest rate cut imminent

7 May 2025

SEOUL (Reuters) -Most of the Bank of Korea’s board members assessed headwinds to South Korea’s economy were growing faster than expected, a factor that would warrant more interest rate cuts, minutes from last month’s meeting showed on Wednesday. “With economic growth this year expected to fall short of previous forecasts due to the economic slowdown, …

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New Zealand central bank warns of financial system risks amid global volatility

7 May 2025

By Lucy Craymer and Renju Jose WELLINGTON (Reuters) -New Zealand’s central bank said on Wednesday that risks to the financial system have increased over the past six months due to a more volatile global economic environment, but the country’s banks remain in a strong position. Geopolitical risks have escalated following U.S. tariffs on goods imports …

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Analysis-Global rice prices have hit a floor, but India’s supply glut will smother any gains

7 May 2025

By Rajendra Jadhav MUMBAI (Reuters) -Global rice prices, which have tumbled to multi-year lows, are unlikely to fall further with top exporter India’s currency firming, but bulging Indian stockpiles and a bumper Asian crop will cap any rebound this year, industry executives say. While lower rice prices will benefit price-sensitive consumers in Africa and other …

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China central bank governor says will cut banks’ reserve requirement ratio

7 May 2025

BEIJING (Reuters) -China’s central bank governor said on Wednesday the bank would cut the amount of cash that banks must hold as reserves by 50 basis points, the first reduction in 2025 as policymakers seek to support the economy amid a protracted trade war with the United States. The People’s Bank of China’s Governor Pan …

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Japan’s service sector activity rebounds in April, PMI shows

7 May 2025

TOKYO (Reuters) – Japan’s service sector activity returned to growth in April after stagnating the previous month, helped by improved orders, a stark contrast to continued weakness in manufacturing, a business survey showed on Wednesday. The final au Jibun Bank Japan Services purchasing managers’ index (PMI) rose to 52.4 in April from the neutral 50.0 …

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