Reuters US Economy

By Darya Korsunskaya and Alexander Marrow (Reuters) -Russia’s finance ministry on Thursday proposed scrapping liquidity restrictions for spending on “anti-crisis” investments from its National Wealth Fund (NWF), citing the need to support key sectors amid challenging geopolitical conditions. Russia’s fiscally conservative authorities have tended to be cautious in their use of NWF funds. Thursday’s move …

Russia eyes end to liquidity caps on wealth fund ‘anti-crisis’ spending Read More »

ANKARA (Reuters) – There is no longer basis in Turkey for large price rises given increasing predictability in exchange rates and the support for financing, and data proves that inflation is slowing, the central bank’s head said on Thursday. Presenting the quarterly report, Governor Sahap Kavcioglu said the bank stood by its previous year-end annual …

No basis in Turkey for large price rises, cenbank chief says Read More »

(Reuters) -Spain’s unemployment rate rose to 12.87% in the fourth quarter of 2022 from 12.67% three months earlier, data from the National Statistics Institute showed on Thursday, pushing the number of unemployed people above the 3 million threshold. However, the unemployment rate during the quarter was the lowest in a fourth quarter since 2008, the …

Spain’s unemployment rate inches up to 12.87% in Q4 2022 Read More »

MEXICO CITY (Reuters) – Mexican same-store retail sales rose by 10.6% across 2022 compared to the previous year, as the highest inflation in over two decades sent prices soaring, Mexican retailers’ association ANTAD said Wednesday, with sales expected to moderate in 2023. In 2022, sales at the retail group’s member stores totaled 1.43 trillion Mexican …

Mexico same-store sales up 10.6% in 2022, retail group says Read More »

By David Randall NEW YORK (Reuters) – Some of Wall Street’s biggest names are throwing cold water on expectations that the U.S. economy will scrape through 2023 without a recession, even as hopes of easing inflation and resilient growth propel stocks higher. Banks and asset managers that have reiterated recession calls include BlackRock, Wells Fargo …

Analysis-Wall Street heavyweights warn of pain ahead despite market’s recent reprieve Read More »

By Steve Scherer and David Ljunggren OTTAWA (Reuters) – The Bank of Canada on Wednesday hiked its key interest rate to 4.5%, the highest level in 15 years, and became the first major central bank fighting global inflation to say it would likely hold off on further increases for now. The 25-basis-point rise matched analysts’ …

Bank of Canada hikes rates, becomes first major central bank to signal pause Read More »

By Trevor Hunnicutt and Lindsay Dunsmuir WASHINGTON (Reuters) -Federal Reserve Vice Chair Lael Brainard is a contender for the White House’s top economic policy position, joining a list that includes Deputy Treasury Secretary Wally Adeyemo and Commerce Secretary Gina Raimondo, two people familiar with the process said on Wednesday. Brainard is currently in the number …

Fed’s Brainard, Treasury’s Adeyemo in running to be Biden’s economic czar, sources say Read More »

By Davide Barbuscia and Matt Tracy (Reuters) – A New Year rally in U.S. corporate bonds has started to lose some momentum, as some investors become skeptical of recent optimism about a ‘Goldilocks’ economic scenario of slowing inflation against a backdrop of moderate growth. Credit spreads for both investment-grade and high-yield bonds have been tightening …

Analysis-U.S. corporate bond rally stumbles on ‘Goldilocks’ skepticism Read More »

By Steve Scherer OTTAWA (Reuters) -Canadian Finance Minister Chrystia Freeland said on Tuesday her approach to this year’s budget, due out sometime this spring, would be carefully calibrated due to a high level of uncertainty in the global economy. “There is still a lot of uncertainty in the world economy, and that means that we …

Canada needs to be ‘fiscally prudent’ in budget, finance minister says Read More »

LIMA (Reuters) -Peru’s economy is on track to meet growth forecasts despite ongoing social unrest, the economy minister said on Tuesday, boosted by the help of a $1.55 billion recovery plan. While weeks of deadly protests have affected some sectors, particularly tourism, minister Alex Contreras said, the economy could grow “close to” 4% this year, …

Peru’s economy growing at healthy clip despite social unrest, minister says Read More »