Reuters US Economy

Bank Indonesia intervenes after rupiah falls to 5-year low against dollar

28 Feb 2025

JAKARTA (Reuters) – Indonesia’s central bank conducted a “bold” intervention in the foreign exchange market on Friday, an official said, after the rupiah fell to its lowest level against the U.S. dollar since March 2020. Edi Susianto, Bank Indonesia’s head of monetary management, told Reuters the rupiah depreciation was due to U.S President Donald Trump’s …

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Japan PM’s coalition trims draft budget despite spending pressure

28 Feb 2025

By Makiko Yamazaki TOKYO (Reuters) -Japanese Prime Minister Shigeru Ishiba’s party and a coalition partner cut the draft budget for the next fiscal year by $2.30 billion, in an effort to rein in state finances while accepting demands from opposition parties for spending measures. The draft budget, submitted to the parliament on Friday, marks the …

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Hong Kong home prices soften for a second month in January

28 Feb 2025

HONG KONG (Reuters) – Hong Kong’s home prices fell for a second straight month in January, government figures showed on Friday, as potential homebuyers searched for more positive market signals amid a weak economic outlook. BY THE NUMBERS Private home prices fell 0.4% in January from the month before, following a revised 0.9% decline in …

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BOJ vows to keep tapering bond buying despite rise in yields

28 Feb 2025

By Kantaro Komiya and Leika Kihara (Reuters) -The Bank of Japan will keep tapering its government bond purchases despite recent rises in yields, deputy governor Shinichi Uchida said on Friday, stressing its huge bond holdings continue to exert a strong stimulus effect on the economy. Uchida also reiterated the central bank’s readiness to continue raising …

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Core inflation in Japan’s capital slows but stays above BOJ target

28 Feb 2025

By Makiko Yamazaki and Satoshi Sugiyama TOKYO (Reuters) -Core consumer prices in Japan’s capital rose 2.2% in February from a year earlier, data showed on Friday, slowing for the first time in four months due to revived energy subsidies but remaining well above the central bank’s 2% target. The persistently high inflation will likely support …

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Alberta projects C$5.2-billion budget deficit if Trump tariffs proceed

28 Feb 2025

By Amanda Stephenson CALGARY (Reuters) – Canada’s oil-producing province of Alberta on Thursday forecast a budget deficit of C$5.2 billion ($3.5 billion) for the 2025/26 fiscal year if U.S. tariffs are implemented and decrease government revenues and slow economic growth. The outlook reflects a dramatic reversal of Alberta’s fiscal health, following what is expected to …

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Panama concerned about economic toll of Cobre Panama mine closure

27 Feb 2025

By Elida Moreno and Divya Rajagopal PANAMA CITY (Reuters) – Panama’s President Jose Mulino said on Thursday the Central American nation’s economy was reeling from the closure of Canadian miner First Quantum’s Cobre Panama mine, once the world’s biggest copper mine. “Largely what we are suffering today in Panama is the absence of that source …

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TSX hits near 6-week low as trade tensions rise

27 Feb 2025

By Ragini Mathur and Fergal Smith TORONTO (Reuters) – Canada’s main stock index fell on Thursday to a near six-week low as escalating global trade tensions fueled risk-aversion and despite stronger-than-expected earnings from three of Canada’s big-five banks. The S&P/TSX composite index ended down 200.12 points, or 0.8%, at 25,128.24, wiping out its gains over …

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New Zealand consumer confidence steady in February, survey shows

27 Feb 2025

SYDNEY (Reuters) – Consumer confidence in New Zealand slightly rose in February though the indice that tracks consumers’ plans on buying a major household item remained relatively subdued, ANZ-Roy Morgan data showed on Friday. The consumer confidence index nudged higher to 96.6 in February from 96.0 in January. A reading above 100 shows optimism, while …

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Brazilian financial institutions see growing fiscal risks, cenbank survey shows

27 Feb 2025

SAO PAULO (Reuters) – Brazilian financial institutions see greater fiscal risks and a worsening economic cycle over the next three years in Latin America’s largest economy, according to a central bank survey released on Thursday. Of the 91 financial institutions surveyed, 52 cited the fiscal picture as the main risk to financial stability, up from …

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