By John Revill ZURICH (Reuters) -The Swiss National Bank has entered “wait and see mode” it said on Thursday after a surprise decision to pause its current cycle of interest rate hikes. The SNB held its policy interest rate unchanged at 1.75%, noting that inflation has ebbed lower in Switzerland, but said a further tightening …
Swiss National Bank in wait and see mode after pausing rate hikes Read More »
MOSCOW (Reuters) – Russia is considering imposing an additional tax tied to the rouble-dollar rate on exports of metals, fertilisers and some other commodities, sources in two major exporting companies told Reuters on Wednesday. The tax, which may be imposed from October and last until the end of 2023, would apply to all major export …
Russia mulls extra tax for some commodities exports, including metals – sources Read More »
BOGOTA (Reuters) – Colombian Finance Minister Ricardo Bonilla, who is also a director of the country’s central bank, said on Wednesday he will ask the board to start cutting the benchmark interest rate at the board’s meeting next week, citing a slowdown of inflation. Colombia’s monetary policy authority has held the rate steady at 13.25% …
Colombia finance minister to insist central bank start cutting rates Read More »
NEW YORK (Reuters) -The Federal Reserve held interest rates steady on Wednesday but stiffened its hawkish stance, with a further rate increase projected by the end of the year and monetary policy kept significantly tighter through 2024 than previously expected. Fed policymakers at the median still see the central bank’s benchmark overnight interest rate peaking …
Fed sees tighter policy through 2024; Powell says new forecasts not pledge for action Read More »
By Steve Scherer and David Ljunggren OTTAWA (Reuters) -The Bank of Canada on Tuesday said recent volatility in headline inflation is not unusual but the underlying trend shown by core measures was inconsistent with bringing inflation down to the 2% target. Earlier on Tuesday, August inflation figures showed a jump in the headline number to …
Bank of Canada: Underlying inflation is inconsistent with 2% target Read More »
BUENOS AIRES (Reuters) – Argentina’s economy shrank 4.9% in the second-quarter of 2023 versus the year-ago period, the country’s statistics agency said on Tuesday, slightly missing analysts’ forecast of a 4.8% contraction and posting the first break in growth for years. Tuesday’s result marks the first time the country’s growth was in the red since …
Argentina’s economy shrinks for first time in nearly three years Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -As Treasuries wobble ahead of the outcome of the Federal Reserve’s monetary policy meeting on Wednesday, some investors are buying into the weakness, confident that a peak in interest rates will eventually lift the market for U.S. government debt. It’s a bet that has backfired several times in the …
Some investors bet peak policy rate is near ahead of Fed decision Read More »
By David Ljunggren and Steve Scherer OTTAWA (Reuters) -Canada’s annual inflation rate in August jumped to 4.0% from 3.3% in July on higher gasoline prices, data showed on Tuesday, a sign the central bank may be forced to raise interest rates yet again after 10 hikes since March of last year. Analysts polled by Reuters …
Canadian inflation jumps, October rate hike bets rise Read More »
SHANGHAI (Reuters) – China is widely expected to leave lending benchmark rates unchanged at a monthly fixing on Wednesday, a Reuters survey showed, as fresh signs of economic stabilisation and a weakening yuan constrained further monetary easing efforts. The loan prime rate (LPR) normally charged to banks’ best clients is calculated each month after 18 …
China expected to leave benchmark loan rates unchanged in Sept Read More »
JAKARTA (Reuters) – Indonesia’s parliamentary budget committee on Tuesday approved President Joko Widodo’s budget for 2024, his final year in office with a total spending of 3,325.1 trillion rupiah ($216.27 billion, the committee chair said. The agreed spending is representing a fiscal deficit equal to 2.29% of gross domestic product or slightly lower than 2023’s …
Indonesia parliament committee approves govt’s $216.3 billion 2024 budget Read More »
