By Yoruk Bahceli (Reuters) -Tighter financing conditions in markets sparked by banking sector turmoil may have done much of central banks’ jobs for them, boosting the case for an end to interest rate hikes soon. In less than two weeks, U.S. banking shares alone have slid over 15%, weaker companies’ borrowing costs have jumped and …
Market turmoil is doing central bankers’ jobs for them Read More »
A look at the day ahead in European and global markets from Ankur Banerjee With about 12 hours still to go before the Fed announces its policy decision, investors are attempting a bit of a risk-on rally. Comments from U.S. Treasury Secretary Janet Yellen, who told bankers that she was prepared to intervene to protect …
Jittery markets attempt risk-on rally while waiting for Powell Read More »
By David Morgan WASHINGTON (Reuters) – Republican U.S. Senator Rick Scott doubled down on his call to replace the Federal Reserve’s current inspector general with a new, more independent office, following the collapses of Silicon Valley Bank and Signature Bank. In an opinion column posted on the Fox News website, the Florida Republican also pledged …
Republican US senator doubles down on call for tighter Fed scrutiny Read More »
By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen told bankers on Tuesday that she is prepared to intervene to protect depositors in smaller U.S. banks suffering deposit runs that threaten more contagion amid the worst financial system turmoil in more than a decade. In a speech aimed at calming nerves rattled by two …
Yellen vows to safeguard deposits at smaller U.S. banks, intervene if needed Read More »
(Reuters) – The International Monetary Fund (IMF) has approved a nearly $3 billion bailout for Sri Lanka, which could help the country unlock up to $7 billion more from other lenders such as the World Bank and the Asian Development Bank. Here are some key developments in the island nation’s worst economic crisis in about …
Sri Lanka’s economic crisis: From protests to IMF bailout Read More »
By David Morgan WASHINGTON (Reuters) – Republican U.S. Senator Rick Scott said on Monday he will introduce legislation to create an independent inspector general to oversee the Federal Reserve, as he called the U.S. central bank “unable or unwilling to properly regulate” banks in a letter to Fed Chair Jerome Powell. Scott, a Republican known …
US Sen Scott pushes for new Fed inspector general, slams Fed over bank regulation Read More »
BRASILIA (Reuters) – Brazilian President Luiz Inacio Lula da Silva plans to unveil a long-awaited new fiscal framework before he travels to China at the end of the week but wants the proposal discussed privately with congressional leaders first, Finance Minister Fernando Haddad said on Monday. The framework is seen as crucial to easing fiscal …
Lula government discusses Brazil’s new fiscal framework with lawmakers Read More »
By David Lawder WASHINGTON (Reuters) – The World Bank on Monday said the February earthquakes are expected to have caused Syria’s real GDP output to contract by 5.5% in 2023, with recovery and reconstruction needs estimated at $7.9 billion over three years. The World Bank said its Rapid Damage and Needs Assessment report estimates the …
World Bank estimates Syria’s three-year earthquake recovery needs at $7.9 billion Read More »
WASHINGTON (Reuters) – President Joe Biden maintains confidence in Federal Reserve Chair Jerome Powell, the White House said on Monday, amid criticism about the multiple rate increases the Fed has approved in recent months and its handling of the banking crisis. Democratic Senator Elizabeth Warren told NBC’s “Meet the Press” on Sunday that Powell has …
Biden has confidence in Fed Chair Powell -White House Read More »
By Gabriela Baczynska BRUSSELS (Reuters) – Donors at a European Union-led conference on Monday pledged 7 billion euros ($7.5 bln) to help to rebuild Turkey after last month’s devastating earthquakes, while Ankara estimated the costs at more than ten times that. The Feb. 6 earthquakes were the worst natural disaster to strike modern-day Turkey with …
EU-led donors to provide 7 billion euros to help rebuild Turkey after earthquake Read More »
