By Howard Schneider WASHINGTON (Reuters) -A united U.S. Federal Reserve agreed to hold interest rates steady at the June meeting as a way to buy time and assess whether further rate hikes would be needed, even as the vast bulk expected they would eventually need to tighten policy further, according to meeting minutes released on …
‘Almost all’ Fed officials agreed to skip June hike -minutes Read More »
(Reuters) – Canada’s financial watchdog on Wednesday released new guidelines for lenders aimed at protecting mortgage holders facing high borrowing costs or who are at the risk of defaulting. The Financial Consumer Agency of Canada (FCAC) said federally regulated financial institutions, including banks, must work to help at-risk consumers by “providing tailored support” that could …
BERLIN (Reuters) -Germany’s cabinet approved the first draft of its 2024 budget and financial plans through 2027, the finance ministry said on Wednesday, as Europe’s biggest economic power curbs spending that surged in response to COVID-19 and the Ukraine war. “Today we have adopted a budget proposal aligned with fiscal realities,” Finance Minister Christian Lindner …
Germany approves first draft of 2024 budget focused on ‘fiscal realities’ Read More »
LONDON (Reuters) – Euro zone business activity slipped into contractionary territory last month in a broad-based downturn across the bloc’s dominant services industry and a deepening decline of factory output, a survey showed. HCOB’s final Composite Purchasing Managers’ Index (PMI), compiled by S&P Global and seen as a good gauge of overall economic health, slumped …
Euro zone business activity contracts in June -PMI Read More »
BERLIN (Reuters) – Growth in Germany’s services sector slowed in June amid signs a recent resurgence in demand was losing steam, a survey showed on Wednesday. The HCOB final services Purchasing Managers’ Index (PMI) fell to 54.1 in June from a 13-month high of 57.2 in May, but it remained comfortably above the 50 level …
German services sector loses some shine as growth slows -PMI Read More »
(Reuters) -Australia’s corporate regulator on Wednesday asked the country’s banks to disclose data on fees charged to Indigenous consumers after a review found they were not meeting targets for moving First Nations people into low-fee accounts. The Australian Securities and Investments Commission (ASIC) found that many Indigenous consumers are paying up to A$3,000 ($2,007) in …
Australian watchdog urges banks to move Indigenous clients into low-fee accounts Read More »
PARIS (Reuters) – Activity in France’s dominant services sector fell in June for the first time since January, a survey showed on Wednesday, as weak demand added to fears the euro zone’s second-biggest economy could have contracted in the second quarter. The HCOB France final purchasing managers index (PMI) for June for the services sector, …
French services activity falls for first time since January as demand weakens – PMI Read More »
ROME (Reuters) – Italy’s services sector grew in June for a sixth month running, albeit at a slower pace than in May, with higher interest rates weighing on sentiment in the euro zone’s third largest economy, a survey showed on Wednesday. HCOB Global’s Purchasing Managers’ Index (PMI) came in at 52.2 last month, down from …
Italy’s service sector grows in June, but pace slows again – PMI Read More »
BRASILIA (Reuters) -Brazilian President Luiz Inacio Lula da Silva’s first picks for the independent central bank, an institution he has clashed with since taking office in January, told a Senate Economic Affairs Committee hearing that his government has set the stage for easier monetary policy, and the panel approved their names for the positions. Former …
Brazil Senate committee approves Lula’s picks for central bank board Read More »
SAO PAULO (Reuters) -Brazilian President Luiz Inacio Lula da Silva said on Tuesday he wants the Mercosur trade bloc to advance in talks for deals with Canada, South Korea and Singapore, while aiming to increase commerce with other countries in Latin America and Asia. The leftist president’s remarks during a summit of Mercosur leaders in …
Lula says Mercosur eyeing fresh trade deals, increased regional commerce Read More »
