Reuters US Economy

By Mike Dolan LONDON (Reuters) – With prices falling like a stone as central bank tightening goes into overdrive, buying bonds may appear confused – but perhaps that very confusion is good enough reason in itself. Financial markets are full of often contradictory old adages and pearls of ‘wisdom’ – like being greedy when others …

Column-Dazed and confused enough to buy bonds: Mike Dolan Read More »

PARIS (Reuters) – French Finance Minister Bruno Le Maire said he hoped the worst would be over by spring 2023 in terms of inflation, and reaffirmed that France would have positive economic growth in 2023. Le Maire also told France 2 TV that France would have a reform of its pensions system – a key …

French Finance Minister: hopes worst will be over in terms of inflation by spring 2023 Read More »

MOSCOW (Reuters) – Russia’s Moscow Exchange said on Tuesday that it would stop trading in British pounds in its foreign currency market on Oct. 3. “Suspension of these operations is due to potential risks and difficulties in settling in the British pound,” it added in a statement. (Reporting by Polina Devitt; Editing by Chris Reese)

By Simon Johnson STOCKHOLM (Reuters) -Sweden’s central bank raised interest rates by a full percentage point to 1.75% on Tuesday in a surprisingly large move and warned that more was to come as it sought to get to grips with surging inflation. Inflation hit 9% – a 30-year high – in August as the effects …

Swedish central bank surprises with full percentage point rate hike Read More »

By Rachel More and Rene Wagner BERLIN (Reuters) -German producer prices rose in August at their strongest rate since records began both in annual and monthly terms, driven mainly by soaring energy prices, raising the chances that headline inflation will surge even higher. Producer prices of industrial products increased by 45.8% on the same month …

German producer prices post surprise record jump in August Read More »

ZURICH (Reuters) -The Swiss government significantly cut its economic growth forecasts on Tuesday, citing growing risks from a “tense energy situation and sharp price increases”. It now expects the country’s economy to expand 2.0% this year, down from its June forecast for 2.6% growth. [L8N2Y229W] In 2023 the economy is expected to expand by 1.1%, …

Switzerland cuts growth forecasts given energy risks, inflation Read More »

(Reuters) – Russia is considering raising taxes on the oil and gas sector to the tune of 3 trillion roubles ($50 billion) in 2023-2025 in order to plug the budget gap, the Kommersant daily said on Tuesday, citing sources familiar with the discussions. The finance ministry declined to comment. The ministry expects a budget deficit …

Russia is considering $50 billion hike in taxes on oil, gas in 2023-2025 -Kommersant Read More »

BEIJING (Reuters) -China’s commercial hub of Shanghai on Tuesday launched eight infrastructure projects with total investment of 1.8 trillion yuan ($257 billion), state media said. The projects involve the development of new energy and securing people’s livelihoods, including urban transit, railways and housing improvement, the Shanghai Observer said. Specific projects include deep-sea offshore wind power …

Shanghai unveils $257 billion in infrastructure investments Read More »

By Ebru Tuncay and Jonathan Spicer ISTANBUL (Reuters) -Turkish lenders Isbank and Denizbank have suspended use of Russian payment system Mir, the banks said on Monday, following a U.S. crackdown on those accused of helping Moscow skirt sanctions over the war in Ukraine. The moves, announced separately, came after Washington expanded its sanctions last week …

Two Turkish banks suspend Russian Mir payments after U.S. sanctions Read More »