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MANILA (Reuters) – Philippine central bank governor Benjamin Diokno, who takes on a new role as finance secretary next month, said on Friday he does not favour raising taxes even as the incoming government is set to inherit a huge pile of debt.. Diokno, who is President-elect Ferdinand Marcos’s choice to lead the finance ministry, …

Incoming Philippine Finance Minister does not favour tax hikes to tackle debt Read More »

By Satawasin Staporncharnchai BANGKOK (Reuters) – Thailand’s exports in April rose at a much slower pace than the previous month and less than expected, commerce ministry data showed on Friday, coming under the pressure of Russia’s invasion of Ukraine and China’s lockdown measures. Exports, a key driver of Thai growth, increased 9.9% in April from …

Thai April exports miss forecast over Ukraine war, China lockdown Read More »

By Vivek Mishra BENGALURU (Reuters) – New Zealand’s house prices are forecast to sink 9.0% this year as aggressive interest rate hikes take some heat out of the blazing housing market amid a worsening cost of living crisis, keeping potential buyers on the sidelines, a Reuters poll found. House prices have nearly doubled in the …

New Zealand house prices to sink 9.0% this year, another 2% in 2023: Reuters poll Read More »

By Steve Holland and Kanishka Singh WASHINGTON (Reuters) -The White House said on Thursday it expects minimal impact on the U.S. and global economy from a potential Russia debt default as Washington decided to not extend a waiver that enabled Russia to pay U.S. bondholders. “We expect the impact on the U.S. and the global …

White House expects minimal impact on U.S. and global economy from Russia default Read More »

NEW YORK (Reuters) – The Federal Reserve could pause its monetary policy tightening in September if there is an economic deterioration and inflation subsides, BofA strategists said on Thursday, a day after the U.S. central bank released the minutes from its May policy meeting. All of the Fed’s policymakers agreed to hike interest rates by …

Fed may pause policy tightening in September, BofA says Read More »

By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell more than expected last week as the labor market remains tight amid strong demand for workers despite rising interest rates and tightening financial conditions. But the outlook for the economy is uncertain, with other data on Thursday showing …

U.S. labor market hot, but declining profits cast shadow over economy Read More »

(Reuters) – The Russian rouble weakened on Thursday as the central bank cut interest rates to 11% at an off-schedule policy meeting and a month-end tax period passed, though capital controls kept it trading not far from multi-year highs to the euro and dollar. The central bank cut its key rate by 300 basis points …

Russian rouble weakens as central bank cuts rates to 11% Read More »

(Reuters) -Russia’s central bank lowered its key interest rate to 11% on Friday and said it saw room for more cuts this year, as inflation slows from more than 20-year highs and the economy is about to contract. It announced the move at an extraordinary meeting after cutting the key rate to 14% in April, …

Russian central bank slashes key rate, sees room to cut further Read More »

(Reuters) – Creating an official digital version of the U.S. dollar could help ensure financial system stability as crypo-assets and digital currencies developed by other countries become increasingly popular, Federal Reserve Vice Chair Lael Brainard said on Wednesday. “The rapid ongoing evolution of the digital financial system at the national and international levels should lead …

Fed’s Brainard sees case for central bank digital currency Read More »

By Dan Burns DAVOS, Switzerland (Reuters) – The World Bank’s investment arm has continued disbursing funds to some private firms in Ukraine despite the war there and is looking to finance efforts to re-orient the country toward “greening” its economy, the head of the unit said on Wednesday. “In spite of the war, we have …

World Bank’s IFC still disbursing funds in Ukraine despite war, chief says Read More »