(Reuters) – S&P Global Ratings on Friday maintained its positive outlook on South Africa, as the agency expects that a net external creditor position and the implementation of some structural reforms could lead to an easing of economic pressures. S&P in May upgraded its outlook to positive from stable, citing an improved fiscal trajectory. “Higher-than-expected …
MEXICO CITY (Reuters) -Fitch Ratings on Friday downgraded Mexican leasing firm Unifin Financiera’s long and short-term local and foreign currency issuer default ratings (IDRs) to ‘D’ from ‘RD’ due to the firm’s announced restructuring process. “The downgrades reflect that a bankruptcy proceeding is ongoing, as signaled by the announcement made by the company,” Fitch said, …
Fitch downgrades Mexico’s Unifin to ‘D’ on bankruptcy proceedings Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. existing home sales tumbled for a record ninth straight month in October as the 30-year fixed mortgage rate hit a 20-year high and prices remained elevated, pushing homeownership out of the reach of many Americans. Despite the broad decline in sales reported by the National Association of Realtors …
U.S. existing home sales plunge; tight inventory keeps prices rising Read More »
BUDAPEST (Reuters) -Hungary is aiming to prevent its economy sliding into recession, Prime Minister Viktor Orban said on Friday after data this week showed the economy contracting in quarterly terms for the first time in more than two years. Soaring inflation sapped central Europe’s economies in the third quarter, with Hungary nearing a technical recession …
Hungary aiming to prevent economy sliding into recession, Orban says Read More »
OSLO (Reuters) – The Norwegian economy grew at a faster pace than economists had expeced in the third quarter, Statistics Norway (SSB) data showed on Friday. The July-September quarter saw a rise in mainland GDP of 0.8% compared with the April-June period, while economists polled by Reuters had expected an increase of 0.4%. “The rise …
DAKAR (Reuters) -The International Monetary Fund’s board has approved Senegal’s request for a credit extension to Jan. 10, 2023, to allow time to complete credit and policy reviews, the Fund said in a statement on Thursday. The request, approved on Nov. 15, concerns an 18-month Stand-By Arrangement and Arrangement Under the Standby Credit Facility (SBA/SCF). …
IMF grants Senegal credit extension until January 2023 for reviews Read More »
By Devayani Sathyan BENGALURU (Reuters) – New Zealand’s central bank will hike rates by 75 basis points for the first time ever on Wednesday to cool multi-decade high inflation, ramping up the speed of an already-aggressive monetary tightening campaign, a Reuters poll found. Inflation at 7.20% is well above the Reserve Bank of New Zealand’s …
New Zealand’s RBNZ seen raising rates by historic 75 bps: Reuters Poll Read More »
(Reuters) -It’s hard to know how high the U.S. central bank will need to raise interest rates, Minneapolis Federal Reserve Bank President Neel Kashkari said on Thursday, but it should not stop until it’s clear that inflation has peaked. “I need to be convinced that inflation has at least stopped climbing, that we’re not falling …
Fed’s Kashkari: not stopping rate hikes until inflation peaks Read More »
MEXICO CITY (Reuters) -The International Monetary Fund (IMF) concluded that Mexico still meets the eligibility criteria for a flexible credit line, the country’s central bank said on Thursday. Mexico’s Foreign Exchange Commission decided to maintain access equivalent to around $47 billion, approved in 2021, the central bank’s statement said. The credit line has been shrinking …
Mexico keeps IMF credit line, to maintain access to around $47 billion Read More »
BRASILIA (Reuters) – Brazil’s Economy Ministry on Thursday cut its 2023 GDP growth forecast to 2.1%, from the 2.5% anticipated in September, due to a deterioration in the global economic outlook. Private economists in a Brazilian central bank weekly survey projected gross domestic product would grow 0.7% in Latin America’s largest economy next year. In …
Brazil’s government cuts 2023 GDP growth forecast as global economy weakens Read More »
