Reuters US Economy

By Ezgi Erkoyun and Daren Butler ISTANBUL (Reuters) – Turkey’s central bank unexpectedly hiked interest rates by 500 basis points to 50% on Thursday, citing a deteriorating inflation outlook and pledging to tighten even further if it expects the price situation to worsen significantly. The hawkish surprise came 10 days before nationwide local elections and …

Turkey central bank stuns market with 500-point rate hike to 50% Read More »

By Chris Prentice, Karl Plume and Ana Mano NEW YORK (Reuters) – Senior executives at Archer-Daniels-Midland Co, the grain trader under government investigation for accounting issues, will receive millions of dollars in bonus compensation, according to an internal email seen by Reuters and Securities and Exchange Commission filings. ADM had delayed paying performance bonuses to …

ADM pays bonuses to senior executives in midst of government investigation, documents show Read More »

By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, while sales of previously owned homes increased by the most in a year in February, signs the economy remained on solid footing in the first quarter. That was underscored by other data on Thursday showing …

US economy on solid ground as weekly jobless claims fall, home sales surge Read More »

By Stefano Rebaudo (Reuters) -Investors tweaked views about the European Central Bank’s policy path to the dovish side on Thursday, and bond yields hit one-week lows after the Federal Reserve indicated 75 basis points of monetary easing in 2024 and the Swiss National Bank (SNB) cut rates. The euro zone market reaction to the Bank …

Investors tweak bets on ECB rate cuts to dovish side after Fed, SNB Read More »

FRANKFURT (Reuters) – Euro zone banks must adjust how they manage risk as they face challenges from the end of ultra low interest rates to the emergence of non-traditional competitors that can quickly steal market share, the European Central Bank’s top supervisor said. Euro zone banks handled the recent surge in inflation and interest rates …

ECB tells banks to prepare for new types of risk Read More »

A look at the day ahead in European and global markets from Tom Westbrook Central bank meetings in Sydney, Washington and Tokyo concluded this week with, respectively, few surprises, little changed and a total but expected revolution in policy. Next up are Norges Bank, the Bank of England and the Swiss National Bank, of which …

Morning Bid: Three meetings down, bring on the rest Read More »

By Walter Bianchi and Hernan Nessi BUENOS AIRES (Reuters) -Argentina’s economy shrunk 1.4% in the fourth-quarter of 2023 versus a year earlier, the country’s statistics agency said on Wednesday, slightly beating analysts’ forecasts but darkening an already gloomy outlook for the embattled South American country. The GDP reading marks the third quarterly year-on-year decline in …

Argentina economy shrinks in fourth quarter as outlook darkens Read More »

(Reuters) – The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the U.S. central bank’s 2% inflation target. The Fed’s new policy statement described inflation as remaining “elevated,” and updated …

Fed stands pat on rates and view on 2024 cuts, in face of elevated inflation Read More »