Reuters US Economy

By Camillus Eboh ABUJA (Reuters) -Nigeria’s Senate passed a motion on Wednesday to summon Central Bank Governor Godwin Emefiele over the “free fall of the naira” and called on the central bank to urgently intervene. The naira has fallen to successive record lows on the parallel market due to dollar scarcity since July last year …

Nigeria’s Senate summons central bank chief over ‘free fall of the naira’ Read More »

NEW YORK (Reuters) – The Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point on Wednesday in an effort to cool the most intense breakout of inflation since the 1980s, with “ongoing increases” in borrowing costs still ahead despite evidence of a slowing economy. The rate-setting Federal Open Market Committee …

Instant View: Fed hikes rates another 75 basis points Read More »

FRANKFURT (Reuters) – Lending to euro zone companies accelerated in June, confounding fears that banks are tightening access to credit as uncertainty about inflation and the fallout of the war in Ukraine are pointing to recession risks, European Central Bank data showed. Lending to companies in the 19-country euro area expanded by 6.8% in June …

Euro zone business lending unexpectedly surges in June Read More »

ROME, July 27 (Reuters) – Morale amongst Italian businesses and consumers fell in July, a month that marked the return of political instability to Italy with the collapse of Prime Minister Mario Draghi’s national unity government, data showed on Wednesday. National statistics institute ISTAT’s manufacturing confidence index dropped to 106.7 in July from a downwardly revised 109.5 …

Italy business and consumer confidence morale fall in July as political instability returns Read More »

A look at the day ahead in markets from Dhara Ranasinghe. A second straight 75 basis-point interest rate hike from the U.S. Federal Reserve later on Wednesday looks like a done deal. After all, when markets started to bet on a 100 bps move after latest inflation data, Fed policymakers reacted with a concerted push …

Marketmind: Fed day Read More »

By Yoruk Bahceli and Sujata Rao AMSTERDAM/LONDON (Reuters) – Not convinced by central banks’ pledge to stamp on inflation, many investors are on the hunt for assets that will protect their portfolios from years of decline in the value of money. These funds are buying up inflation-linked bonds and real estate, while also taking long-term …

Analysis-Here to stay: fund managers play the long game on inflation Read More »

By Kirsty Needham SYDNEY (Reuters) – Australia sees the world’s climate emergency as an opportunity to create jobs, the new Labor government said on Wednesday, introducing legislation to enshrine an emissions reduction target. Minister for Climate and Energy Chris Bowen said a decade of political in-fighting had seen Australia go backwards on climate change, and …

Australia sets sights on clean energy jobs created by ‘climate emergency’ Read More »