By Howard Schneider WASHINGTON (Reuters) – Federal Reserve policymakers reached a milestone on Wednesday when they left the U.S. central bank’s benchmark overnight interest rate steady for the first time after 10 consecutive hikes. While Fed officials still see rates rising further, by as much as half a percentage point by the end of this …
The Fed’s stages of inflation grief, in Powell’s words Read More »
NEW YORK (Reuters) – The Federal Reserve kept interest rates unchanged on Wednesday but signaled in new economic projections that borrowing costs will likely rise by another half of a percentage point by the end of this year as the U.S. central bank reacted to a stronger-than-expected economy and a slower decline in inflation. The …
Instant View: Still-hawkish Fed pauses rate tightening after 10 straight hikes Read More »
(Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said the central bank’s next rate-setting meeting in July would be a “live” meeting after officials chose to forego a rate hike in June. Powell’s remarks came after the Federal Open Market Committee left its benchmark rate at 5.00% to 5.25%, but officials’ forecasts showed they …
Fed’s Powell: July FOMC will be a ‘live’ meeting Read More »
(Reuters) – The following are comments from key European Central Bank policymakers in the run up to the June 15 policy meeting. The ECB has already said that “more ground” needs to be covered, universally understood to mean that another rate hike is coming, but views on the outlook further out diverge. CHRISTINE LAGARDE, ECB …
Factbox-Key ECB policymaker comments in run up to June policy meeting Read More »
(Reuters) – Toyota Motor said this week it will adopt a technology Tesla pioneered known as “Gigacasting” as part of a strategy by the Japanese automaker to improve the performance – and lower the cost – of future electric vehicles (EVs). Toyota is not alone in following Tesla’s breakthrough. Here’s a look at Gigacasting and …
Explainer – Why are other automakers chasing Tesla’s ‘Gigacasting’? Read More »
BERLIN (Reuters) – Germany’s wholesale prices fell in May compared with the same month last year, according to data released on Wednesday. Wholesale prices decreased by 2.6% on the year and 1.1% on the month, the federal statistics office reported. The office offers more detailed economic data on its website. (Reporting by Anastasiia Kozlova, Editing …
By Nivedita Balu TORONTO (Reuters) -Canada’s financial regulator is urging lenders to tackle risks from mortgage extensions at the “earliest opportunity” as many borrowers try to navigate higher mortgage costs after the Bank of Canada’s surprise rate hike last week. The Office of the Superintendent of Financial Institutions’ (OSFI) urgency underscores the concern about the …
By Howard Schneider WASHINGTON (Reuters) – Federal Reserve officials for months have been counting on slower-rising U.S. housing prices to help in their efforts to control inflation, and there are good reasons to think that may happen soon. An oft-cited index of real-time leases prepared by real estate firm Zillow, for example, shows rental inflation …
New inflation data tests Fed’s faith in housing slowdown thesis Read More »
A look at the day ahead in European and global markets from Sonali Desai The People’s Bank of China (PBOC) managed to liven up the wait for Tuesday’s highly anticipated U.S. consumer price inflation (CPI) data by lowering a short-term lending rate for the first time in 10 months. Several analysts had been expecting a …
Marketmind: China steals the show before US inflation Read More »
By Jody Godoy A former Goldman Sachs banker leaked details of potential corporate mergers to a friend who traded on the information, a prosecutor told a New York jury during opening arguments of a trial on Monday. Former Goldman Sachs Vice President Brijesh Goel faces securities fraud, conspiracy and obstruction of justice charges for allegedly …
Ex-Goldman Sachs banker stole merger details, prosecutor tells jury Read More »
