By Nevzat Devranoglu and Orhan Coskun ANKARA (Reuters) – Turkey will stick to policies that allow only net exporters to access cheap lira loans and may toughen rules further despite a backlash from companies as it works to support its ailing currency, according to three people familiar with the plan. The BDDK financial regulator, the …
Turkey to forge on with selective loan policy despite backlash -sources Read More »
By John Revill ZURICH (Reuters) -The Swiss National Bank reported a first-half loss of 95.2 billion Swiss francs ($100.08 billion) on Friday, the biggest six-month loss since the central bank was founded in 1907. Stock market declines, falling bond prices and the franc’s appreciation severely dented the value of its massive foreign currency holdings. The …
Swiss National Bank posts record H1 loss, says no policy impact Read More »
By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Thursday a second-quarter contraction of U.S. economic output was a sign of an inevitable and significant slowdown, but there was still broad strength in the economy, especially in jobs. During a news conference, Yellen did not rule out a possible recession as …
Yellen says U.S. economy slowing, but jobs still a strong point Read More »
By Howard Schneider WASHINGTON (Reuters) – Since May, U.S. Federal Reserve Chair Jerome Powell has devoted some of his running commentary on monetary policy, a dense topic that can seem removed from daily life, on the impact inflation has on households and why that makes it so important to bring it under control. New data …
Powell’s focus on ‘pain’ of inflation in one data point: More Americans are hungry Read More »
BEIJING (Reuters) – China will keep economic operations within a reasonable range and do its utmost to achieve the best possible results for the economy, state media said on Thursday, following a meeting of a high-level decision-making body of the Communist Party. China will also stick to its “dynamic” zero-COVID policy while seeking to stabilise …
China says it will do ‘utmost’ to achieve best possible economic results Read More »
By Yousef Saba DUBAI (Reuters) – Most Gulf central banks lifted their main interest rates by three quarters of a percentage point on Wednesday, moving with the U.S. Federal Reserve as their currencies are pegged to the dollar. The Central Bank of Kuwait, the only one of the six Gulf Cooperation Council (GCC) countries that …
Gulf central banks lift rates as Fed makes second 75-bps hike Read More »
(Reuters) – Spain’s jobless number remained below three million for the second month running, falling to 12.48% in the April to June period of 2022 compared to 13.65% three months earlier, data from the National Statistics Institute showed on Thursday. The quarterly unemployment rate fell to its lowest level since the third quarter of 2008, …
Amid clouds on economic horizon, Spain’s jobless rate stays below 3 million mark Read More »
A look at the day ahead in markets from Sujata Rao Fed boss Jerome Powell was reticent on the future policy-tightening path, so markets, ever optimistic, took it as a sign the U.S. central bank will pivot to a slower rate-hike pace. Note, some argue the opposite, pointing to Powell’s allusion to an “unusually large” …
By Richa Naidu LONDON (Reuters) – As a cost-of-living crisis with no end in sight sends shockwaves through Europe, deals in the region’s retail and consumer-products industries have slowed dramatically – even more so than in other sectors, data shows. Record inflation around the world has changed the way people shop, with many families trading …
Analysis-As inflation soars, European consumer goods M&A slows Read More »
By Davide Barbuscia and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Investors are gauging whether the U.S. Federal Reserve has reached the peak of its aggressiveness in hiking rates, with some saying they’re ready to up risky positions again. The Fed delivered its second straight 75 basis point rate increase on Wednesday, but Chairman Jerome Powell …
Analysis-After another jumbo Fed hike, some investors see glimmers of hope Read More »
