By Ann Saphir (Reuters) -The Federal Reserve should be patient about raising interest rates in the face of recent banking stress, Chicago Fed President Austan Goolsbee said on Tuesday, noting that a pullback in bank lending would help quell inflation and leave less for monetary policy to do. “At moments like this, of financial stress, …
Fed’s Goolsbee: Prudence, patience needed on rate hikes Read More »
By Michael S. Derby (Reuters) – The Federal Reserve is on a path to shrink the size of its massive stock of cash and bonds for several more years, and will likely also face several more years of negative net income as well, a report from the New York Fed said Tuesday. As part of …
NY Fed report sees several more years of balance sheet contraction Read More »
PARIS (Reuters) – The French economy is set to grow around 0.2% in the first quarter of 2023, up from around 0.1% forecast last month, the central bank said on Tuesday, as activity in three main sectors picked up steam. The Bank of France said companies polled in its monthly business sentiment survey reported activity …
French central bank nudges up Q1 economic growth forecast to around 0.2% Read More »
By Giuseppe Fonte ROME (Reuters) -Italy on Tuesday raised its growth forecast for 2023 but cut next year’s projection as the outlook clouds, while confirming previous public finance targets to keep the budget deficit on a downwards trend. In its Economic and Financial Document (DEF), the Treasury forecasts gross domestic product (GDP) to grow by …
Italy promises to lower deficit even as growth outlook clouds Read More »
By Jamie McGeever ORLANDO, Florida (Reuters) -The Federal Reserve could be set to follow its historic interest rate-hiking campaign with another policy milestone – ending a tightening cycle with negative real rates. There are a few variables at play – not least incoming economic and inflation data – but it is not unreasonable to think …
Another Fed milestone? Policy peak with negative real rates: McGeever Read More »
SEOUL (Reuters) – South Korea’s financial regulator said on Tuesday the government would set up a 1 trillion won ($758.97 million) public fund to support companies that are undergoing a restructuring process. The Financial Services Commission said in a statement it would raise 1 trillion won this year for its Corporate Structure Innovation Fund, with …
South Korea to set up $759 million corporate restructuring fund Read More »
By Jihoon Lee and Choonsik Yoo SEOUL (Reuters) -South Korea’s central bank on Tuesday held interest rates steady and warned against expectations for a rate cut within this year, saying cooling but still high inflation posed a bigger risk than an economic slump. Remarks by the bank’s governor at a news conference were largely neutral, …
Bank of Korea holds steady but warns against early rate cut bets Read More »
By Jorgelina do Rosario WASHINGTON (Reuters) -A combination of sticky high interest rates and lacklustre global growth could push a number of emerging economies that are facing soaring refinancing needs into debt difficulties next year. Many weaker economies navigated the fallout from the COVID-19 pandemic and the war in Ukraine with financing aid from multilateral …
Debt crunch looms for weaker economies with a wall of bond maturities ahead Read More »
BEIJING (Reuters) – China’s consumer inflation hit an 18-month low and factory-gate price declines sped up in March as demand stayed persistently weak, shoring up the case for policymakers to take more steps to support the uneven economic recovery. In contrast to surging prices globally, China’s retail and producer inflation has remained anaemic as the …
China’s consumer, factory prices skid as demand falters Read More »
(Reuters) – The U.S. economy is at risk of shrinking in the second quarter, BofA Global Research wrote in a client note, following recent economic data that hinted that the Federal Reserve’s aggressive interest rate hikes were cooling the economy. “This week’s data flow is consistent with our view that the U.S. economy slowed steadily …
BofA sees ‘meaningful risks’ of Q2 U.S. economic contraction Read More »
