Reuters US Economy

Turkey expects rise in pensioner, maternity allowances to cost $1.38 billion this year

13 Mar 2025

ANKARA (Reuters) – Turkey expects to spend an additional 50.4 billion lira ($1.38 billion) on higher retirees’ allowances and maternity benefits this year, an impact analysis report showed on Thursday. A bill submitted to a parliamentary commission by President Tayyip Erdogan’s AK Party includes an increase to the Eid holiday allowances paid to 15.5 million …

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Whether US is heading for recession or just ‘detox,’ downturns are costly

13 Mar 2025

By Howard Schneider WASHINGTON (Reuters) -U.S. Commerce Secretary Howard Lutnick says a recession would be “worth it” to get President Donald Trump’s economic policies in place, while Treasury Secretary Scott Bessent has spoken of a coming period of “detox” and Trump himself says the economy is in “transition.” However it plays out, history shows recessions …

Whether US is heading for recession or just ‘detox,’ downturns are costly Read More »

Institute raises German growth forecast for 2026 in anticipation of spending boom

13 Mar 2025

FRANKFURT (Reuters) – Germany’s IfW economic institute raised its 2026 growth estimate for Europe’s largest economy on Thursday, anticipating tailwinds from a public spending boost that conservative election winner Friedrich Merz is pushing for. IfW, one of Germany’s main economic forecasters, said next year’s gross domestic product would likely increase by 1.5%, up from IfW’s …

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Turkey cenbank to do ‘whatever needed’ to hit 24% year-end inflation target

13 Mar 2025

ANKARA (Reuters) -Turkey’s central bank will do “whatever needed” to reach its year-end inflation target of 24% including maintaining a “tight” policy stance, Governor Fatih Karahan told state-run Anadolu Agency in comments published on Thursday. The central bank will not allow demand conditions to disrupt the disinflation process, Karahan also said in an interview with …

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Bank of Korea says wary of FX volatility on trade war risks

13 Mar 2025

SEOUL (Reuters) – South Korea’s central bank said on Thursday that U.S. President Donald Trump’s escalating trade war could drag on longer than expected and increase the risk of capital outflows while also raising volatility in the dollar-won market. “Considering that the value of the won is greatly affected by fluctuations in the value of …

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US October-February budget deficit hits record $1.147 trillion

13 Mar 2025

By David Lawder WASHINGTON (Reuters) -The U.S. budget deficit for the first five months of fiscal 2025 hit a record $1.147 trillion, the Treasury Department said on Wednesday, including a $307 billion February deficit for President Donald Trump’s first full month in office that was up 4% from a year earlier. The October-February deficit, which …

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Bank of Canada considered leaving rates unchanged, governor tells Reuters

12 Mar 2025

By Promit Mukherjee and Caroline Stauffer OTTAWA (Reuters) – The Bank of Canada considered leaving its key policy rate at 3% ahead of a scheduled announcement before concluding it needed to cut for the seventh consecutive time, Governor Tiff Macklem said in an interview on Wednesday. The central bank trimmed its key policy rate by …

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Brazil seeks to reallocate nearly $6.9 billion in 2025 budget

12 Mar 2025

BRASILIA (Reuters) – Brazil’s government has asked Congress to approve a nearly 40 billion reais ($6.9 billion) budget reallocation, boosting spending on pensions while cutting funds for the popular Bolsa Familia cash transfer program. In a letter to Congress’ budget committee, Planning Minister Simone Tebet said the changes reflect shifting priorities and new needs. The …

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US corporate bond spreads hit widest in about 6 months on recession fears

12 Mar 2025

By Matt Tracy (Reuters) – The spreads between the yields on corporate bonds and U.S. Treasuries hit their widest since September this week, pointing to mounting investor worries about recession and a global trade war. U.S. investment-grade bond spreads hit 94 basis points on Tuesday, their widest level since Sept. 18, according to the ICE …

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