Reuters US Economy

BRASILIA (Reuters) -Brazil’s executive secretary of the Finance Ministry, Gabriel Galipolo – who is due to be nominated for a key role at the country’s central bank – said on Tuesday he has good relations with central bank Governor Roberto Campos Neto but does not always agree with him. Speaking to reporters, Galipolo also said …

Lula pick for Brazil central bank key role says he doesn’t always agree with governor Read More »

FRANKFURT (Reuters) – The European Central Bank may need to raise interest rates for longer than currently anticipated, and September could be the earliest moment when policymakers can judge whether past rate hikes have been effective, ECB policymaker Peter Kazimir said on Tuesday. The ECB has lifted rates at each of its past seven meetings …

ECB may need to raise rates for longer than anticipated: Kazimir Read More »

PARIS (Reuters) – The International Monetary Fund remains concerned about recent turbulence in the banking sector despite actions by the U.S. and Swiss authorities to deal with troubled banks on their watch, its chief economist Pierre-Olivier Gourinchas said on Monday. Speaking to journalists in Paris, he added that “the story is not over” and that …

IMF still concerned by banking sector wobbles – chief economist Read More »

By Joe Cash BEIJING (Reuters) – China’s imports contracted sharply in April, while exports rose at a slower pace, reinforcing signs of feeble domestic demand despite the lifting of COVID curbs and heaping pressure on an economy already struggling in the face of cooling global growth. China’s economy grew faster than expected in the first …

China’s shrinking imports, slower exports growth darken economic outlook Read More »

LONDON (Reuters) – The European Commission has announced restrictions on the imports of Ukrainian wheat, maize, rapeseed and sunflower seed in Poland, Hungary, Romania, Slovakia and Bulgaria until June 5. The move led to Poland, Hungary, Slovakia and Bulgaria lifting unilateral import bans they had imposed citing the need to protect their farmers. Romania had …

Why the EU is restricting grain imports from Ukraine Read More »

By Anna Koper, Gergely Szakacs and Luiza Ilie WARSAW (Reuters) – When global grain prices started falling last year after a spike in the first months of the war in Ukraine, Poland’s then agriculture minister urged farmers to hang onto their harvests in the hope of a rebound and better returns. The bet backfired badly …

Why eastern Europe’s grain producers face a perfect storm Read More »

By Andrea Shalal WASHINGTON (Reuters) – Treasury Secretary Janet Yellen is reaching out to U.S. business and financial leaders to explain the “catastrophic” impact a U.S. default on its debt would have on the U.S. and global economies, two sources familiar with the matter said on Monday. The Treasury secretary is having one-on-one conversations with …

Yellen is calling CEOs personally to warn on US debt ceiling -sources Read More »

By Joe Cash BEIJING (Reuters) -China’s exports were expected to have risen again in April, albeit at a less robust pace than a month earlier, a Reuters poll showed, supported by unfulfilled orders after last year’s COVID disruptions though slowing global growth is darkening the outlook. Outbound shipments last month from the world’s second largest …

China’s exports seen rising in April but at slower pace, outlook challenging Read More »

TOKYO – Japan’s services activity grew at a record pace in April, a private-sector survey showed on Monday, helped by a boost in consumer spending following the end of COVID-19 pandemic restrictions. The final au Jibun Bank Japan Services purchasing managers’ index (PMI) climbed to a seasonally adjusted 55.4 last month from March’s 55.0. GRAPHIC …

Japan’s service activity grows at record pace in April – PMI Read More »