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Japan policymakers jawbone markets as yen falls beyond key threshold

26 Oct 2023

By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japanese policymakers maintained their warning to investors against selling the yen on Thursday in the wake of the currency’s renewed slide beyond 150 to the dollar, a level seen by traders as authorities’ threshold for intervention. “It’s important for currency rates to move stably reflecting fundamentals. Excess …

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Analysis-War clouds Israel’s interest rate outlook

26 Oct 2023

By Steven Scheer and Karin Strohecker JERUSALEM/LONDON (Reuters) – Israel’s war with Palestinian militant group Hamas has upended expectations of where Israeli short-term interest rates are headed as policymakers try to balance a sliding shekel and slowing economy with already above-target inflation. Less than three weeks ago markets and analysts were predicting at least one …

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Saudi non-oil GDP seen at around 6% in 2023 and beyond -finance minister

25 Oct 2023

RIYADH (Reuters) – Saudi Arabia’s non-oil gross domestic product (GDP) is expected to grow by around 6% this year, the kingdom’s finance minister said on Wednesday, adding he expected it would continue to be healthy. Non-oil activities surged 6.1% in the second quarter, driven by domestic demand, and vastly outperformed overall growth, which is set …

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Mexico sees solid economic expansion but price pressures persist

25 Oct 2023

MEXICO CITY (Reuters) – Mexico’s economy, the second biggest in Latin America, could expand by 3.5% or more this year, a senior finance ministry official said on Wednesday, as one central banker flagged a “long battle ahead” to better corral creeping consumer prices. In testimony before lawmakers, Deputy Finance Minister Gabriel Yorio talked up the …

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US Fed proposes shrinking fees banks charge on debit card transactions

25 Oct 2023

By Pete Schroeder WASHINGTON (Reuters) -The U.S. Federal Reserve on Wednesday proposed slashing by nearly a third the amount of so-called “swipe fees” banks can charge merchants for processing debit card transactions, setting up a pitched battle between the two industries over potentially billions of dollars in revenue. Citing data that showed the costs of …

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Canadians with auto loans show stress from rate hikes as mortgage holders cope

25 Oct 2023

By David Ljunggren and Nivedita Balu OTTAWA (Reuters) -Canada’s central bank on Wednesday highlighted stress building in customers with auto loans, while saying mortgage owners largely coped from a record pace in interest rate increases which has squeezed household budgets. In its quarterly Monetary Policy Report released on Wednesday, the Bank of Canada said indicators …

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Restaurant operator Alsea budgets higher Mexican labor costs after strong quarter

25 Oct 2023

By Sarah Morland and Aida Pelaez-Fernandez MEXICO CITY (Reuters) -The head of Mexico-based restaurant chain operator Alsea on Wednesday warned of higher Mexican labor costs next year, but said the firm would look to maintain profits without hiking its prices. “We cannot compensate with prices,” CEO Armando Torrado told analysts on a call, saying a …

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