Reuters US Economy

By Lucy Craymer WELLINGTON (Reuters) -The Reserve Bank of New Zealand said on Wednesday the country’s financial system is as a whole resilient but global financial stress will test this. “The rising global interest rates necessary to curb inflation will test New Zealand’s financial resilience,” Governor Adrian Orr said in the bank’s financial stability review, …

RBNZ says global financial stress will test New Zealand’s financial resilience Read More »

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks closed lower for a second straight session on Tuesday after data indicating that the labor market remained on solid ground dimmed hopes the Federal Reserve might have enough reason to begin reducing the size of its interest rate hikes. A survey showed U.S. job openings unexpectedly …

Wall St slips as jobs data dents hopes for Fed rate deceleration Read More »

FRANKFURT (Reuters) -The European Central Bank should start shrinking its oversized pile of government debt at the start of next year, Bundesbank President Joachim Nagel told a German newspaper, outlining an ambitious timetable for reducing an 8.8-trillion-euro balance sheet. With inflation running well into double digits, the ECB has been raising rates at the fastest …

ECB could start shrinking debt pile from start of 2023, Nagel says Read More »

BRASILIA (Reuters) – Brazil’s trade surplus in October was lower than forecast, even though exports grew faster than imports for the first time since February, official figures showed on Tuesday. The trade surplus reached $3.9 billion in October, according to the Economy Ministry, below the median forecast of a $4.2 billion surplus in a Reuters …

Brazil’s trade surplus comes lower than expected in October Read More »

By Bhargav Acharya and Alexander Winning JOHANNESBURG (Reuters) – South Africa still has space to raise interest rates, its central bank governor said on Tuesday ahead of a rate decision later this month, citing the need to get inflation expectations more anchored around the midpoint of its target range. The South African Reserve Bank (SARB) …

South Africa still has space to raise rates – central bank Read More »

By Wayne Cole SYDNEY (Reuters) – The head of Australia’s central bank on Tuesday said further increases in interest rates would likely be needed to tame inflation, and it was ready to go faster on hikes or to pause for a time if necessary. In a speech in Tasmania, Reserve Bank of Australia (RBA) Governor …

Australia’s central bank says ready to go faster or pause on rate hikes as needed Read More »

MOSCOW (Reuters) – The rouble edged lower against the dollar, euro and yuan on Tuesday, as the Russian currency began trading without the support of a favourable month-end tax period and investors awaited the U.S. Federal Reserve’s policy meeting. The Fed is all but certain to raise interest rates by 75 basis points on Wednesday, …

Russian rouble edges lower as month-end tax support passes Read More »

FRANKFURT (Reuters) – The European Central Bank must keep raising interest rates to fight off inflation, even if the probability of a euro zone recession has increased, ECB President Christine Lagarde said in an interview published on Tuesday. “Our mandate is price stability and we have to deliver on that using all the tools we …

ECB must keep raising rates even if recession risks rise, Lagarde says Read More »