Reuters US Economy

By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of San Francisco President Mary Daly said Monday that the U.S. central bank could lift its overnight target rate above 5% if inflation does not cool off, even thought that’s not her expected outcome for monetary policy. “I tend to be on the more …

Fed’s Daly: Lots of options on table for December FOMC rate hike Read More »

LA PAZ (Reuters) – Bolivia’s economy is forecast to grow 4.8% in 2023, less than the 5.1% growth previously forecast, the government announced on Monday during the presentation of next year’s budget. The downgrade comes during an ongoing general strike in Santa Cruz, the country’s largest city and economic motor, which has become a site …

Bolivia lowers 2023 growth projection as general strike goes on Read More »

NEW YORK (Reuters) – Federal Reserve Bank of San Francisco leader Mary Daly said on Monday she is still expecting the U.S. central bank to hike rates more and will likely lift its interest rate target to around 5%. While the end state of the central bank’s rate rise campaign is “not set in stone” …

Fed’s Daly: Currently expect fed funds rate to top out around 5% Read More »

BEIRUT (Reuters) -Lebanon’s central bank will adopt an exchange rate of 15,000 Lebanese pounds per U.S. dollar as of Feb. 1 as part of a process to unify the country’s multiple exchange-rate system, Lebanese central bank governor Riad Salameh said on Monday. The central bank’s official rate has been set at 1,507 pounds per U.S. …

Lebanon central bank to use forex rate of 15,000 pounds per dollar as of Feb 1 Read More »

MOSCOW (Reuters) – Russian companies reduced their foreign currency loans by $7.4 billion last month and have also cut forex holdings on the accounts by $11.1 billion, the central bank said on Monday. Since the start of this year, forex holdings by Russian companies are down by $28 billion, the central bank added. (Reporting by …

Russian firms cut forex loans, exposure in Oct -central bank Read More »

By Jonathan Cable LONDON (Reuters) – German house prices will fall 3.5% next year as the cost of living crisis and rising borrowing costs hits consumers, but the chances of an outright crash are low, according to a Reuters poll of property market experts. Harmonised consumer price inflation in Europe’s largest economy was 11.6% last …

German home prices to fall 3.5% next year as buyers feel the pinch- Reuters poll Read More »

By Catarina Demony LISBON (Reuters) – Brazilian President-elect Luiz Inacio Lula da Silva said on Saturday that fiscal responsibility was crucial but that spending to improve the country’s economy and welfare was equally important. “We know we have to be fiscally responsible,” Lula told a room full of supporters in Portugal’s capital Lisbon. “We cannot …

Brazil’s Lula: Fiscal responsibility crucial but must also spend to improve country Read More »

(Reuters) – Saint Lucia’s economy will face intensifying risks of natural disasters linked to climate change, the International Monetary Fund (IMF) said on Friday, advising the Caribbean state to build buffers despite financial constraints. “Downside risks dominate,” it said in a statement, pointing to the pandemic, higher food and energy prices, costlier imports, tighter financial …

IMF warns Saint Lucia to build buffers for mounting climate risks Read More »

By Michael S. Derby BOSTON (Reuters) – Federal Reserve Bank of Boston President Susan Collins on Friday declined to say how far the central bank will need to raise rates given uncertainty over the economic outlook. Fed rate rises this year have been swift and put monetary policy in a “different phase,” Collins told reporters …

Fed’s Collins declines to say how far Fed will hike rates Read More »