Reuters US Economy

By Alexander Marrow (Reuters) – The rouble weakened on Wednesday, heading back past 96 to the dollar and well away from the near six-week high hit in the previous session, as investors digested Kremlin comments on the currency and awaited Friday’s central bank rate decision. At 0840 GMT, the rouble was 1.2% weaker against the …

Rouble weakens past 96 vs dollar as rate decision looms Read More »

By Bansari Mayur Kamdar (Reuters) -European shares fell on Wednesday, as investors braced for a crucial U.S. inflation report due later in the day for cues on the Federal Reserve’s monetary policy path amid a hawkish shift in expectations from the European Central Bank’s rate decision this week. The pan-European STOXX 600 slid 0.4% by …

Rate hike concerns weigh on European shares ahead of US inflation test Read More »

By Prerana Bhat BENGALURU (Reuters) -The Federal Reserve will leave its benchmark overnight interest rate unchanged at the end of its Sept. 19-20 policy meeting and probably wait until the April-June period of 2024 or later before cutting it, according to economists in a Reuters poll. Fed Chair Jerome Powell underscored the “higher-for-longer” mantra for …

Fed to leave rates unchanged on Sept. 20; cut unlikely before Q2 2024 Read More »

By Noel Randewich and Ankika Biswas (Reuters) – Wall Street stocks ended lower on Tuesday as Oracle shares tumbled more than 13% after a weak forecast and surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week. Oracle shares dived to their lowest since June after the cloud-services provider …

Wall Street ends lower as Oracle tumbles on weak forecast Read More »

By Pete Schroeder WASHINGTON (Reuters) -U.S. bank groups on Tuesday accused the Federal Reserve and other regulators of violating federal laws with a sweeping proposal to raise capital requirements, escalating an assault on the draft rules which bankers say will hurt the economy. In a public letter to the agencies, the groups representing JPMorgan Chase, …

US banks say regulators broke law as fight over proposed capital rules escalates Read More »

BRASILIA (Reuters) – The Brazilian government expects cuts of at least 50 basis points in the central bank’s benchmark interest rate over the remaining three meetings this year, aiming to end 2023 with the rate below 12%, Planning Minister Simone Tebet said on Tuesday. The Selic rate stands at 13.25% after the central bank embarked …

Brazil government expects rates to fall by at least 50 bps -minister Read More »

VLADIVOSTOK, Russia (Reuters) -Russian President Vladimir Putin on Tuesday said increasing inflation had forced the central bank to hike interest rates to 12% last month, warning that Russia’s economy would suffer if price rises were allowed to get out of control. “In conditions of high inflation, it’s practically impossible to form business plans,” Putin said …

Putin warns of economic strife should inflation rise uncontrollably Read More »

MADRID (Reuters) -Spanish national consumer prices rose 2.6% in the year through August, driven by the increased cost of fuel, up from a 2.3% increase during the 12 months through July, final data from the National Statistics Institute (INE) showed on Tuesday. The reading confirmed the flash estimate released by INE two weeks ago. Analysts …

Spain 12-month inflation rises to 2.6% in August driven by fuel Read More »

BERLIN (Reuters) – German wholesale prices fell for the fifth month in a row in August due to lower prices for mineral oil products, data from the federal statistics office showed on Tuesday. Wholesale prices declined by 2.7% in August compared to the same month last year, according to the data. Easing price pressures in …

German wholesale prices continue downward trend in August Read More »