DUBAI (Reuters) – Saudi Arabia’s economy grew by 3.8% year on year in the first quarter of 2023, the General Authority for Statistics said on Thursday, broadly in line with estimates released last month. Non-oil activities grew by 5.4% in Q1 while oil activities grew by 1.4% and government service activity was up by 4.9%, …
Saudi Arabia economy grew 3.8% in Q1 boosted by non-oil activities Read More »
By Steve Scherer and David Ljunggren OTTAWA (Reuters) – The Bank of Canada on Wednesday hiked its overnight rate to a 22-year high of 4.75%, and markets and analysts immediately forecast yet another increase next month to ratchet down an overheating economy and stubbornly high inflation. The central bank had been on hold since January …
Bank of Canada hikes rates to 22-year high, more increases expected Read More »
By Nevzat Devranoglu and Huseyin Hayatsever ANKARA (Reuters) -Turkey’s lira plunged 7.6% to a record low on Wednesday in its biggest selloff since the historic 2021 crash, and traders called it a “strong signal” that Ankara is moving away from state controls toward a freely traded currency. The lira has come under increasing pressure since …
Lira plunges more than 7% as Turkey edges towards free market Read More »
By Jamie McGeever ORLANDO, Florida (Reuters) – If the Federal Reserve ‘skips’ raising interest rates next week only to tighten monetary policy again a month later, which is what some U.S. central bank officials are indicating and markets are pricing, it will be the shortest pause in the modern era. Since Alan Greenspan began his …
Column-One-off rate hike ‘skip’ would be Fed first: McGeever Read More »
By Michael S. Derby NEW YORK (Reuters) – Some economists are challenging the view central to some Federal Reserve officials that once the current inflation surge and resulting rate tightening have run their course, the world will once again be one of historically low interest rates. Instead, forecasters at Deutsche Bank and Goldman Sachs believe …
Some economists challenge Fed view very low rate world will return one day Read More »
By Gabriel Araujo SAO PAULO (Reuters) – Consumer prices in Brazil decelerated more than expected in May, government data showed on Wednesday, with 12-month inflation hitting its lowest level in more than two years and dropping below the 4% mark for the first time since late 2020. The figures are likely to add weight to …
Brazil’s inflation falls to more than 2-year low amid calls for rate cuts Read More »
(Reuters) – The European Union is launching a survey on Wednesday to help boost the liquidity of its debt. The bloc will survey market participants to help identify further ways to increase liquidity and boost the attractiveness of its bonds, the European Commission said in a statement on Tuesday. The EU has set out to …
By Tom Wilson, Rae Wee and Hannah Lang (Reuters) -Investors have pulled around $1.43 billion from the crypto exchange Binance and its U.S. affiliate as of 11 a.m. ET (1500 GMT) on Tuesday, data firm Nansen said, a day after a top U.S. regulator sued both exchanges. Binance saw net outflows of $1.34 billion of …
Binance, US affiliate hit by net outflows of $1.43b since SEC lawsuit, data shows Read More »
TORONTO (Reuters) – Canadian economic activity expanded in May at the slowest pace in three months, Ivey Purchasing Managers Index (PMI) data showed on Tuesday. The seasonally adjusted index fell to 53.5 in May from 56.8 in April, posting its lowest level since February. The Ivey PMI measures the month to month variation in economic …
Canada’s Ivey PMI falls to three-month low in May Read More »
By Darya Korsunskaya and Alexander Marrow (Reuters) -Russia recorded a marginal budget surplus in May, enabling it to slightly reduce its deficit for the first five months of the year to 3.41 trillion roubles ($41.9 billion), the finance ministry said on Tuesday, as monthly spending slowed. In January-May 2022 Russia posted a surplus of 1.59 …
Russian budget deficit narrows to $42 billion after May surplus Read More »
