By Anthony Esposito and Noe Torres MEXICO CITY (Reuters) -The Bank of Mexico’s monetary tightening cycle is nearing its end and nominal interest rates could top out between 11.25% and 11.75%, at which point rates would be kept steady to allow them to take effect, deputy bank governor Jonathan Heath said. Banxico, as the Mexican …
By John McCrank NEW YORK (Reuters) – The mutual fund industry is warning the U.S. Securities and Exchange Commission that new proposed rules aimed at better preparing open-end funds to weather distressed market conditions would harm investors saving for retirement. A November proposal from the SEC would require mutual funds, and some exchange-traded funds, to …
Fund industry says proposed U.S. SEC rules would harm retirement savers Read More »
By Nell Mackenzie LONDON (Reuters) – Hedge funds, pinning little hope on central banks’ attempts to cool inflation, are spotting ways to profit from climbing interest rates. Data this week showed U.S consumer prices accelerated in January, pushing two-year Treasury yields to their highest since November as investors braced for inflation proving stickier than hoped. …
How big hedge funds would trade sticky inflation Read More »
By Belén Carreño MADRID (Reuters) – Spain’s exports grew 23% in 2022 to a record 389 billion euros ($416.50 billion), though the increase did not prevent the trade deficit from doubling to 68 billion euros because of a rise of prices and volumes of energy imports. Exports of goods and services represented almost 42% of …
Spain’s trade deficit more than doubles in 2022 due to hike in energy imports Read More »
By Jorgelina do Rosario LONDON (Reuters) – High gas prices and persistent inflation eroding real wages will limit growth in emerging Europe, central Asia and north Africa, the European Bank for Reconstruction and Development (EBRD) said in its regional economic outlook report released on Thursday. The EBRD reduced the region’s growth estimates to 2.1% from …
Sticky inflation prompts EBRD to trim 2023 growth outlook for its region Read More »
By Joe Cash BEIJING (Reuters) -Chinese authorities said on Thursday they will craft policies aimed at stimulating spending on housing and unlocking consumer savings that have built up during the pandemic. The policies include efforts to help the elderly, improve child care services and encourage couples to have more children – announcements that follow …
China says to craft policies to boost consumer spending, improve child care Read More »
By Jorgelina do Rosario LONDON (Reuters) – The potential economic effects of the earthquake in Turkey could result in a loss of up to 1% of the country’s gross domestic product this year, the European Bank for Reconstruction and Development (EBRD) said in a report published on Thursday. The bank added this is a “reasonable …
Turkey earthquake could result in loss of up to 1% of country’s GDP in 2023 Read More »
By Christoph Steitz and Ludwig Burger FRANKFURT (Reuters) – Activist investors are renewing their years-long efforts to break up some of Germany’s most venerable companies, seeing streamlining as a promising route to reviving share prices as Europe’s top economy emerges from the energy crisis. This week Brenntag, founded in 1874 as an egg trader in …
Analysis-Germany’s oldest companies face fresh break-up calls Read More »
A look at the day ahead in European and global markets from Wayne Cole. Forget soft landing, equities seem to be betting on no landing for the U.S. economy: a sublime state where steady growth and low unemployment can co-exist with slowing inflation and higher interest rates. That at least would explain the resilience of …
(Reuters) – The White House is considering nominating Chicago Federal Reserve President Austan Goolsbee to serve as vice chair of the Fed’s Board of Governors to succeed Lael Brainard, who is stepping down to become a top White House economics adviser, the Wall Street Journal reported on Wednesday. Goolsbee, 53, has been head of the …
Austan Goolsbee under consideration to become Fed’s vice chair – WSJ Read More »
