Reuters US Economy

By Bernardo Caram and Rodrigo Viga Gaier BRASILIA/RIO DE JANEIRO (Reuters) -Leading members of Brazil’s economic team said on Thursday they predict the central bank has room to cut its benchmark interest rate by more than 25 basis points at its next meeting, further pressuring policymakers at the bank to lower borrowing costs. President Luiz …

Brazil economic team supports interest rate cut of more than 25bps Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. producer prices barely rose in June and the annual increase in producer inflation was the smallest in nearly three years, further evidence that the economy had entered a period of disinflation even as the labor market remains tight. The report from the Labor Department on Thursday followed news …

US producer inflation muted; labor market still tight Read More »

By Kevin Yao BEIJING (Reuters) – China’s economy likely grew 7.3% in the second quarter from a year earlier due to a low base, but momentum is rapidly faltering, a Reuters poll showed, raising expectations Beijing will have to roll out more stimulus measures soon. While the reading will be heavily skewed by economic pains …

China’s Q2 GDP seen rising 7.3% y/y but on low base, recovery fades: Reuters poll Read More »

By Byron Kaye SYDNEY (Reuters) – The CEOs of Australia’s two biggest banks said on Thursday a tight labour market was keeping late home loan repayments below historic levels even after a year of rising interest rates, but warned that living costs would squeeze the economy through 2023. The updates from Commonwealth Bank of Australia …

Australian banks say low unemployment is buffering home loans Read More »

(Reuters) – J.P.Morgan and Goldman Sachs said on Wednesday they now expect the Bank of Canada (BoC) to deliver one last 25-basis point rate hike in October and lifted their terminal rate forecast to 5.25%. The revised forecast came after the BoC hiked its key overnight rate by a quarter of a percentage point on …

J.P.Morgan, Goldman raise Canada central bank terminal rate forecast to 5.25% Read More »

By Michael S. Derby NEW YORK (Reuters) – Cleveland Federal Reserve President Loretta Mester said on Wednesday that the U.S. central bank’s new real-time money moving system is being designed in a way that should help ensure financial stability should bank stress arise. Mester acknowledged concerns that FedNow, a real-time, all-hours payment system the central …

Banks can manage outflow risk in Fed’s new payment service system, Mester says Read More »

(Reuters) – U.S. economic activity increased slightly in recent weeks, with slow growth seen continuing in coming months, according to a Federal Reserve report published on Wednesday that also offered further indications of abating inflation pressures. “Overall economic activity increased slightly since late May,” the U.S. central bank said in its latest “Beige Book” compendium …

US economic activity rose slightly in recent weeks, Fed survey shows Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices rose modestly in June and registered their smallest annual increase in more than two years as inflation subsided further, but probably not fast enough to dissuade the Federal Reserve from resuming raising interest rates this month. The report from the Labor Department on Wednesday also showed …

US economy shifts into disinflation mode; consumer prices rise modestly Read More »

By Steve Scherer and Ismail Shakil OTTAWA (Reuters) -The Bank of Canada on Wednesday hiked its key overnight rate by a quarter of a percentage point to a 22-year high of 5.0%, and said it could raise rates further because of the risk of inflation stalling above its 2% target. The move to increase borrowing …

Bank of Canada hikes rates, says prepared to raise them further Read More »