MANILA (Reuters) – The Philippine central bank said on Friday it expects a current account deficit of $17.1 billion for 2023, equivalent to 4% of gross domestic product, taking into account subdued global and domestic economic activity. The figure is narrower than its previous projection of a $19.9 billion deficit, or 4.7% of GDP. The …
Philippine central bank revises 2023 current account projection Read More »
SYDNEY (Reuters) – Australia’s Productivity Commission called on the federal government on Friday to improve tax and migration systems, remove import tariffs and secure net-zero carbon emissions at the lowest cost to boost stalling economic productivity. The report titled “Advancing Prosperity” and produced once every five years, made 71 recommendations, while warning that the country’s …
Australia report calls for tax, migration reforms as productivity stalls Read More »
(Reuters) – Activist investor Carl Icahn has urged the U.S. Federal Reserve to stay the course in the fight against the “disease of inflation” despite the failure of Silicon Valley Bank and two other banks last week, the Financial Times reported on Friday. “I think you have to stamp out the disease of inflation,” Icahn …
Carl Icahn urges Fed to keep fighting inflation after SVB collapse – FT Read More »
TOKYO (Reuters) – Japan’s core consumer inflation likely slowed sharply in February from a 41-year high in the previous month, a Reuters poll of 20 economists showed, as government subsidies for gas and electricity bills cushion rising living costs. The core consumer price index (CPI), which excludes volatile fresh food but includes oil products, likely …
Japan’s Feb consumer inflation seen slowing sharply on subsidies – Reuters Poll Read More »
WASHINGTON (Reuters) – Federal regulators and the Treasury Department on Thursday welcomed a decision by 11 larger banks to deposit $30 billion into regional bank First Republic Bank and said it showed the resilience of the U.S. banking system. JPMorgan Chase & Co, Citigroup Inc, Bank of America Corp, Wells Fargo & Co, Goldman Sachs …
US regulators say deposits into First Republic Bank show system’s resilience Read More »
By David Lawder WASHINGTON (Reuters) – More than 50 U.S. agriculture and food groups on Thursday urged Congress to approve new legislation enabling the United States to negotiate more free-trade agreements, arguing that without them American agriculture was falling behind global competitors. The groups, representing a wide variety of U.S. agricultural exports from corn to …
U.S. farm, food groups urge Congress to pass authority for new trade deals Read More »
By Lewis Krauskopf NEW YORK (Reuters) – Tumult in the banking system has roiled investors over the past week, sending Treasury yields into a tailspin, slamming U.S. bank stocks and exacerbating fears of global financial contagion. More shockwaves may be ahead. Though regulators in the U.S. and Europe have closed Silicon Valley Bank and Signature …
Banking worries send US markets on dizzying ride Read More »
By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s central bank board said it agreed to hike the country’s benchmark interest rate by 300 basis points to 78% on Thursday after annual inflation hit 100% for the first time in over three decades. The decision, confirming earlier reporting by Reuters, came after 12-month inflation reached 102.5% …
Argentina hikes interest rate 300 basis points after inflation breaks 100% barrier Read More »
By David Randall NEW YORK (Reuters) – Fears of a recession are growing on Wall Street, as stress in the banking sector following the collapse of Silicon Valley Bank and worries over the fate of Credit Suisse darken the outlook for the economy and markets. Just weeks ago, analysts and investors were debating whether the …
Analysis-Investors brace for hard landing as banking woes stoke recession fears Read More »
STOCKHOLM (Reuters) – Long-term inflation expectations among financial and business groups in Sweden fell in March, a poll commissioned by the central bank showed on Thursday. Inflation measured with a fixed interest rate five years ahead, the horizon watched most closely by the central bank, was seen at 2.2% versus 2.3% three months earlier. Inflation …
Swedish 5-year inflation expectations fall in March Read More »
