LONDON (Reuters) – Bank of England Chief Economist Huw Pill said on Thursday that members of the central bank’s Monetary Policy Committee were more confident that they would soon be able to cut interest rates, although they needed more evidence. “I think we’re growing more and more confident that we can begin to reduce the …
BoE’s Pill says it is too soon to cut rates but confidence growing Read More »
WASHINGTON (Reuters) – U.S. mortgage rates fell this week for the first time in more than a month amid signs of slowing economic activity, but remain too high to provide a significant boost to the housing market. The average rate on the popular 30-year fixed-rate mortgage was down to 7.09% as of May 9, from …
US 30-year fixed-rate mortgage falls to 7.09%, still too high to boost housing Read More »
By David Ljunggren OTTAWA (Reuters) -The Canadian financial system remains resilient but the continuing adjustment to higher rates and possible shocks present key risks to stability, Bank of Canada Governor Tiff Macklem said on Thursday. Interest rates are at a 23-year high and the bank said it was watching the ability of institutions and households …
Bank of Canada says debt, asset valuations are key risks to stability Read More »
By Neil Jerome Morales and Mikhail Flores MANILA (Reuters) -The Philippine economy accelerated less than expected in the first quarter as weaker consumer spending restrained growth, reinforcing expectations that the central bank will leave interest rates unchanged next week, despite rising inflation. Gross domestic product grew 5.7% in the first three months from the same …
Weak demand restrains Philippine Q1 growth, rates likely on hold Read More »
By Suzanne McGee (Reuters) – Global X ETFs rolled out two new exchange-traded funds using options to generate additional income for investors, the firm said Wednesday. The new offerings, the Global X MLP & Energy Infrastructure Covered Call ETF and the Global X S&P Quality Dividend Covered Call ETF, will write call options on positions …
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of Boston President Susan Collins said on Wednesday that the U.S. economy needs to cool off as an avenue toward getting inflation back to the central bank’s 2% target. “A slowdown in activity will be needed to ensure that demand is better aligned with …
Fed’s Collins says economy may need to weaken to get 2% inflation Read More »
By David Shepardson WASHINGTON (Reuters) – Commerce Secretary Gina Raimondo said Wednesday she expects rules to implement U.S. outbound investment restrictions on China will be completed by the end of the year. President Joe Biden in August issued an executive order authorizing the Treasury secretary to prohibit or restrict U.S. investments in Chinese entities in …
China outbound investment rule to be completed by end of year — US official Read More »
FRANKFURT (Reuters) -The European Central Bank can press ahead with interest rate cuts this year but needs to rethink how it forecasts inflation and sets policy based on these projections, Belgian policymaker Pierre Wunsch said on Wednesday. The ECB has all but promised a rate cut on June 6 but sent few signals about subsequent …
ECB can cut rates and should rethink how it sets policy, Wunsch says Read More »
By Marcela Ayres and Bernardo Caram BRASILIA (Reuters) – Brazil’s planning ministry is preparing to review government spending again, including changes in the calculation of pension and labor benefits, but it is not planning any immediate implementation, the minister told Reuters. The reviews will be done by December and any consequent measures would not be …
By Maria Martinez (Reuters) -German industrial production declined in March, although less than expected thanks to construction, data from the federal statistics office showed on Wednesday. Industrial production fell by 0.4% compared to February, a smaller decline than the 0.6% fall predicted by analysts polled by Reuters. “The renewed contraction in industrial production in March …
German industrial output falls less than expected in March Read More »
