Reuters US Economy

By John Revill and Silke Koltrowitz ZURICH (Reuters) -The Swiss National Bank raised its policy interest rate by 0.75 percentage point on Thursday – only the second rise in 15 years – and said it could not rule out more hikes as it joined other central banks in tightening monetary policy to curb inflation. The …

Swiss National Bank exits negative rates era with 0.75% hike Read More »

By Shreyashi Sanyal and Johann M Cherian (Reuters) – European shares fell on Thursday, with tech stocks sliding after the U.S. Federal Reserve delivered another jumbo-sized interest rate hike and signalled more increases in its fight against stubbornly high inflation. The pan-European STOXX 600 index shed 0.8% by 0817 GMT, while rate-sensitive European tech stocks …

European shares fall as hawkish Fed stokes slowdown fears Read More »

By Marianna Parraga HOUSTON (Reuters) – Argentine President Alberto Fernandez on Wednesday said his government plans in coming days to submit legislation to the national congress that “would give certainty” to energy producers and help advance Argentina’s liquefied natural gas (LNG) agenda. The Vaca Muerta shale basin, the world’s second largest unconventional gas reserve and …

Argentina prepares bill to advance energy sector, including LNG exports Read More »

By Fergal Smith TORONTO (Reuters) – Canada’s main stock index fell on Wednesday to its lowest level in more than two weeks, including declines for energy and financial shares, as the U.S. Federal Reserve delivered another supersized interest rate hike to tackle inflation. The Toronto Stock Exchange’s S&P/TSX composite index ended down 184.15 points, or …

TSX hits a 2-week low as Fed projections rattle investors Read More »

NEW YORK (Reuters) – The Federal Reserve raised its target interest rate by three-quarters of a percentage point to a range of 3.00%-3.25% on Wednesday and signaled more large increases to come in new projections showing its policy rate rising to 4.40% by the end of this year before topping out at 4.60% in 2023 …

Aggressive Fed hikes rates another 75 bp, surprising no one Read More »

MOSCOW (Reuters) – Russia’s economy is expected to expand by 2.6% in 2024-2025 thanks to domestic consumer and investment demand, Economy Minister Maxim Reshetnikov said on Wednesday, after falling this year and next due to Western sanctions. Russian gross domestic product (GDP) is seen falling by 2.9% this year and by 0.8% in 2023, Reshetnikov …

Russia sees GDP growing by 2.6% in 2024-25, economy minister says Read More »

COLOGNE, Germany (Reuters) -The euro zone may suffer a recession over the winter as risks to the growth outlook are intensifying, but even that is not enough to reduce inflation without further rate hikes, European Central Bank Vice President Luis de Guindos said on Wednesday. Growth has been suffering due to high energy costs and …

Recession alone won’t subdue euro zone inflation – ECB’s de Guindos Read More »

SHANGHAI (Reuters) – China’s yuan is facing renewed downward pressure, dragged lower by a surging U.S. dollar, a hawkish Federal Reserve and widening monetary policy divergence between the world’s two largest economies. The yuan has lost about 4% to the dollar since mid-August to weaken past the psychologically important 7 per dollar level. The local …

Explainer-What’s inside China’s toolbox to rein in excess yuan weakness? Read More »

By Kevin Buckland and Vidya Ranganathan SINGAPORE (Reuters) – A quadrillion yen is lying idle with Japanese households, ready to be shipped overseas when yields abroad turn more attractive, and that moment could arrive as soon as this week. Later on Wednesday, the Federal Reserve will be raising rates again and by as much as …

Analysis-A quadrillion reasons the Bank of Japan should fret about Fed Read More »