A look at the day ahead in European and global markets from Tom Westbrook Markets are holding their breath for a week where central banks may start to take divergent paths. Chinese markets have returned from the Lunar New Year break with a bit of a whimper rather than a bang [.SS] and the wind …
By Howard Schneider, Balazs Koranyi and William Schomberg WASHINGTON/FRANKFURT/LONDON (Reuters) – Top central bankers, who credit the use of a 2% inflation target with anchoring decades of stable prices, are facing the first full-on test of how well that approach to monetary policy works once prices have erupted, and how strictly they’ll enforce it if …
The 2% target: Central banks’ inflation touchstone faces post-pandemic reckoning Read More »
By Steven Scheer and Maayan Lubell JERUSALEM (Reuters) – Tel Aviv shares fell on Sunday with analysts citing investor jitters over planned judiciary changes by Israel’s hard-right government and after a Palestinian gunman killed seven people outside a synagogue on Jerusalem’s outskirts. The blue-chip Tel Aviv 35 index was 1.% lower in afternoon trade, while …
Tel Aviv shares drop amid Netanyahu judiciary plans, rising violence Read More »
DUBLIN (Reuters) – Ireland’s finance department said inflation is expected to be lower this year than the 7.1% rate it forecast last September, with a significant easing anticipated from the second quarter due to a sharp fall in wholesale gas prices. Annual Irish inflation slowed to 8.2% in December after hitting a 38-year high of …
Ireland sees lower than forecast inflation in 2023 Read More »
LAGOS (Reuters) – Nigerian opposition presidential candidate Atiku Abubakar urged the central bank on Saturday to extend a Jan. 31 deadline to phase out old high-value banknotes, a measure many Nigerians fear will disrupt business in the cash-reliant economy. Nigerians have to turn in 1,000 ($2.17), 500 and 200 naira notes by Tuesday when they …
Nigeria’s Atiku joins calls to extend deadline on old banknotes Read More »
By Lewis Krauskopf NEW YORK (Reuters) -A potential U.S. recession and tough comparisons to a stellar 2022 are weighing on the prospects of energy stocks delivering an encore to last year’s stunning run, despite valuations that are seen as still comparatively cheap. The S&P 500 energy sector is up 4.2% year-to-date, slightly lagging the rise …
Recession fears pose challenge to energy shares after stellar year Read More »
COLOMBO (Reuters) – Sri Lanka’s economy could contract by -3.5 or -4.0% in 2023 after shrinking -11% last year, President Ranil Wickremesinghe said on Saturday. “From 2024, we will take this economy to positive growth. We are creating a strong country that does not bow down to anyone and is debt-free,” he said. Speaking at …
Sri Lanka economy could shrink by -3.5% to -4%, president says Read More »
By Matt Spetalnick WASHINGTON (Reuters) – U.S. Secretary of State Antony Blinken joined with counterparts from across the Americas on Friday seeking to advance efforts to forge a regional economic partnership, building on a framework President Joe Biden announced at a Los Angeles summit in June. Hosting a virtual meeting with 11 other countries, Blinken …
U.S. seeks to advance Americas economic plan with partners Read More »
By Nelson Bocanegra BOGOTA (Reuters) -Colombia’s central bank board raised the benchmark interest rate by 75 basis points to 12.75% on Friday, a softer increase than expected by a majority of analysts as the board continues to grapple with high inflation. The interest rate is at its highest since November 1999. “Both total inflation (13.1%) …
Colombia raises interest rate to 12.75%, may not be final hike Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending fell for a second straight month in December, putting the economy on a lower growth path heading into 2023, while inflation continued to subside, which could give the Federal Reserve room to further slow the pace of its interest rate hikes next week. The report from …
U.S. consumer spending ends 2022 on weaker footing; inflation slowing Read More »
