Reuters US Economy

By Makiko Yamazaki TOKYO (Reuters) -Many of Japan’s biggest companies from tech conglomerates to Toyota have met union demands for substantial wage hikes for a third consecutive year, seeking to help workers cope with inflation and retain staff amid labour shortages. As annual “shunto” or “spring labour offensive” negotiations at top firms concluded on Wednesday, …

Major Japan firms agree to big wage hikes, impact on BOJ policy in focus Read More »

BRASILIA (Reuters) -Brazil announced new rules on Wednesday to expand payroll-deductible loans for private-sector workers through the country’s digital work card app, allowing them to access cheaper credit. The measure by President Luiz Inacio Lula da Silva comes as his popularity has sharply declined in opinion polls, and is expected to boost borrowing, running counter …

Brazil unveils rules to expand payroll-deductible loans for workers Read More »

By Wendell Roelf, Kopano Gumbi and Tannur Anders CAPE TOWN (Reuters) -A revised budget presented on Wednesday by South Africa’s finance minister was immediately rejected by major political parties, even though a proposed increase in value-added tax was sharply reduced. The revision was meant to end an impasse between Finance Minister Enoch Godongwana’s African National …

South Africa’s budget remains stuck as parties reject reduced VAT hike Read More »

TORONTO – The Bank of Canada on Wednesday lowered its benchmark interest rate by 25 basis points to 2.75%. MARKET REACTION: [CAD/] LINK:  COMMENTS ANDREW KELVIN, HEAD OF CANADIAN AND GLOBAL RATES STRATEGY, TD SECURITIES “My read is that they are going to remain very data dependent (and) that they will continue to ease if economic …

Instant View: Bank of Canada cuts benchmark rate by 25 basis points Read More »

(Reuters) -India’s retail inflation fell below 4% in February for the first time in six months mainly due to a decline in vegetable prices, giving the central bank room to cut rates further in coming meetings. Annual retail inflation in February eased to 3.61%, below economists’ estimate of 3.98% and the lowest since July. Inflation …

India’s retail inflation slips below 4% for first time in six months Read More »

NEW DELHI (Reuters) -India’s industrial output in January outpaced expectations, powered by strong manufacturing and mining activity, government data showed on Wednesday. Industrial output in January grew 5% year-on-year, against the 3.5% growth expected by economists polled by Reuters and the 3.2% growth in December. Industrial output last grew at nearly 5% in November. Manufacturing …

India’s industrial output quickens in January on manufacturing, mining push Read More »

By Ariba Shahid KARACHI (Reuters) -With inflation cooling, Pakistan’s central bank hit pause on its multiple rounds of monetary easing that might have risked destabilising its currency or worsening the trade deficit. Economists said the government should shift its focus to implementing economic reforms as interest rate cuts are not the elixir for growth, after …

Analysis-Pakistan pauses rate cuts, but likely not for long Read More »