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FRANKFURT (Reuters) – The European Central Bank should avoid raising interest rates too fast because that could excessively hurt economic growth, home prices and the financial markets, ECB board member Fabio Panetta said on Thursday. “If these bigger-than-expected increases are interpreted as signalling a higher terminal rate, rather than simply frontloading the normalisation, we could …

ECB’s Panetta warns against bigger-than-expected rate hikes Read More »

By Georgina Lee HONG KONG (Reuters) – A weak Hong Kong dollar and capital outflows have pushed the city’s interbank rates to 14-year highs and drained cash levels to their lowest in two years, sparking investor worries about Hong Kong’s cherished currency peg and its economic health. Below are some details on the complex policy …

Explainer-What’s behind Hong Kong’s tightening cash conditions? Read More »

DUBAI (Reuters) – Most Gulf states said on Wednesday they would increase their key interest rates after the Federal Reserve raised its key policy rate by three-quarters of a percentage point for the fourth straight time. While the U.S. central bank’s policy decision was motivated by its desire to lower stubbornly high inflation in the …

Most Gulf central banks raise interest rates after Fed’s move Read More »

(Reuters) – President Joe Biden’s administration will make $13.5 billion available to help low-income U.S. households lower their heating costs this winter, the White House said on Wednesday. As part of the initiative, the U.S. Department of Health and Human Services is providing $4.5 billion in low-Income Home Energy Assistance Program (LIHEAP) funding, it said …

White House announces $13.5 billion funding to help households with energy bills Read More »

(Reuters) – There remains a chance that the U.S. economy can escape a recession as the Federal Reserve raises interest rates to lower inflation, but that window of opportunity for a “soft landing” has narrowed this year as price pressures have been slow to ease, Fed Chair Jerome Powell said on Wednesday. “Has it narrowed? …

Fed’s Powell: ‘Soft landing’ chances have narrowed Read More »

NEW YORK (Reuters) – The Federal Reserve on Wednesday raised interest rates by three-quarters of a percentage point as it continued to battle the worst outbreak of inflation in 40 years, but signaled future increases in borrowing costs could be made in smaller steps to account for the “cumulative tightening of monetary policy” it has …

Fed delivers fourth 75 bp hike, signals scale-back coming Read More »

By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s jobless rate held at 3.3% in the third quarter, and wage inflation hit its highest level on record, adding to expectations the central bank will increase interest rates by a historic 75 basis points at its next meeting. Data released by Statistics New Zealand on Wednesday highlighted …

New Zealand jobless rate remains low, wage inflation hits record Read More »

MOSCOW (Reuters) – The Russian rouble weakened against the dollar ahead of three treasury bond auctions by the finance ministry on Wednesday, hurt by reduced FX supply after the passing of a favourable month-end tax period, but supported by higher oil prices. At 0738 GMT, the rouble was 0.4% weaker against the dollar at 61.50 …

Rouble drifts lower, Russian stocks retreat from over 5-week high Read More »

By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – The pace and scale of rate hikes delivered by central banks around the globe in October slowed down dramatically following September’s historic peak. Central banks overseeing four of the 10 most heavily traded currencies delivered 200 basis points of rate hikes between them last month, while …

Central banks ease off on rate hike push in October Read More »