WASHINGTON (Reuters) – The White House said on Friday it will not negotiate over the debt ceiling and there are no discussions underway about eliminating it. White House spokesperson Karine Jean-Pierre told reporters Congress must act to increase the debt ceiling after U.S. Treasury Secretary Janet Yellen said the country will likely hit the $31.4 …
White House says it will not negotiate over the debt ceiling Read More »
By Lindsay Dunsmuir and Michael S. Derby (Reuters) – Two months before he became Federal Reserve chair, Jerome Powell urged a gradual approach to raising interest rates so that the U.S. central bank could more adequately assess the true strength of the labor market against tepid inflation, foreshadowing a cautiousness on policy that would persist …
By Michael S. Derby NEW YORK (Reuters) -The Federal Reserve said Friday that it handed back substantially less money to the Treasury last year than it did the year before, amid rising interest expenses tied to its work to lower inflation. The Fed said in a statement its net income last year stood at a …
Fed says surging interest costs cut what it handed back to Treasury in 2022 Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumers are becoming more confident that price pressures will ease considerably over the next 12 months, with a survey on Friday showing their one-year inflation expectations falling in January to the lowest level since the spring of 2021. But the road to low inflation will be bumpy as …
U.S. near-term consumer inflation expectations lowest in nearly two years Read More »
LONDON (Reuters) – British finance minister Jeremy Hunt said sticking to a plan to halve inflation would help the economy grow again after official data showed gross domestic product rose 0.1% in November, a better result than had been expected by economists. “The most important help we can give is to stick to the plan …
Britain’s inflation plan will help grow economy -finance minister Read More »
By Francesco Canepa FRANKFURT (Reuters) – European Central Bank policymaker Martins Kazaks is pushing back on investor bets that the ECB will cut interest rates by the end of this year, saying it would take a deep recession for borrowing costs to be lowered. Money markets expect the ECB to raise the rate it pays …
ECB’s Kazaks pushes back on rate cut bets as core prices rise Read More »
ACCRA (Reuters) – Ghana’s government and trade unions on Thursday agreed to increase all public servants’ salaries by 30% for 2023, they said in a joint statement, as the country struggles to reduce debt and tackle rampant inflation. The West African gold, oil and cocoa producer is battling its worst economic crisis in a generation. …
Crisis-hit Ghana increases public servant salaries by 30% Read More »
BERLIN (Reuters) – More than half Germany’s companies are struggling to fill vacancies due to a lack of skilled workers, the German Chambers of Commerce and Industry (DIHK) said on Thursday, in the latest sign of growth headwinds belabouring Europe’s largest economy. The proportion of companies facing difficulties hiring was at its highest ever level, …
More than half of German companies report labour shortages Read More »
By Neil Jerome Morales MANILA (Reuters) – The Philippines’ central bank governor said on Thursday he hoped benchmark interest rates could be cut in 2024, once inflation was under control, and flagged the prospect of lowering reserve requirements for banks in the first half of the this year. While pent-up domestic demand will carry the …
Philippines central bank hopes to cut rates in 2024, flags RRR reduction Read More »
By Leika Kihara TOKYO (Reuters) -The Bank of Japan on Thursday offered a more optimistic view on the country’s economic health and pointed to growing number of firms planning wage increases, underscoring its conviction that Japan is on track to achieve its 2% inflation target. A rebound in overseas visitors, driven by Japan’s re-opening of …
BOJ more upbeat on regional Japan, wage prospects Read More »
