Tag: PLCY
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Turkey’s Erdogan signals economic U-turn in picking orthodox Simsek
Erdogan begins new five-year term after runoff win Unorthodox rate cuts had exacerbated cost-of-living crisis Economy under deep strain, Simsek seen reversing course ANKARA, June 3 (Reuters) – President Tayyip Erdogan signalled on Saturday his newly-elected government would return to more orthodox economic policies when he named Mehmet Simsek to his cabinet to tackle Turkey’s ... -
Argentina doubles China currency swap access to $10 bln
BUENOS AIRES, June 2 (Reuters) – Argentina has signed a deal to renew its currency swap line with China and double the amount it can access to near $10 billion, the South American country’s central bank said in a statement on Friday, a boost to its dwindling foreign currency reserves. The bank said that the ... -
Brazil’s central bank chief opposes creation of common currency
BRASILIA, June 2 (Reuters) – Brazil’s central bank chief Roberto Campos Neto expressed his opposition on Friday to the creation of a common currency, stating that in the era of digitalization it is unnecessary to have a shared currency for its purported benefits. “That is a very old idea that solves a problem that doesn’t ... -
RBA to hold rates at 3.85% in June, but may raise again soon
BENGALURU, June 2 (Reuters) – Australia’s central bank will keep its key interest rate unchanged at 3.85% on Tuesday despite inflation well above the target range, according to a Reuters poll of economists who were divided on when and where rates would peak this year. The Reserve Bank of Australia (RBA) raised rates last month ... -
Oil prices rise as Congress approves US debt ceiling bill
[1/2] A tug boat pushes an oil barge through New York Harbor past the Statue of Liberty in New York City, U.S., May 24, 2022. REUTERS/Brendan McDermid BEIJING, June 2 (Reuters) – Oil prices rose on Friday amid bullish sentiment following the passage of a U.S. debt ceiling bill in Washington, while markets weighed the ... -
Morning Bid: Hot, cold and skipping a beat
A look at the day ahead in U.S. and global markets from Mike Dolan If the Federal Reserve does skip raising interest rates this month it’s probably because it is as confused as everyone else about the health of the U.S. economy as June kicks off. Like a patient with a virus, incoming data appears ... -
UK house prices fall by most since 2009, higher rates to bite-Nationwide
[1/3] Painted houses are seen in London, Britain, March 31, 2023. REUTERS/Toby Melville/File Photo LONDON, June 1 (Reuters) – British house prices fell by the most since 2009 in the 12 months to May and the country’s housing market faces further headwinds after a recent jump in borrowing costs, mortgage lender Nationwide said on Thursday. ... -
Sri Lanka cuts rates by 250 bps, signals rebound from crisis
COLOMBO, June 1 (Reuters) – Sri Lanka’s central bank cut its key interest rates by 250 basis points on Thursday as inflation eased, signalling that the South Asian nation was emerging from a devastating financial crisis and ready for a rebound in growth. The Central Bank of Sri Lanka (CBSL) cut its standing deposit facility ... -
Dollar retreats as Fed pause eyed; U.S. debt deal clears House
SINGAPORE, June 1 (Reuters) – The dollar retreated from a two-week top against its major peers on Thursday as investors trimmed bets that the Federal Reserve will raise interest rates this month, though the looming debt ceiling deadline gave safe haven support to the greenback. A divided U.S. House of Representatives passed a bill to ... -
US home prices to fall less than expected despite high borrowing costs, Reuters poll shows
BENGALURU, May 31 (Reuters) – U.S. home prices will decline less than previously expected this year before stagnating in 2024, despite widespread expectations interest rates will remain higher for longer, according to property analysts polled by Reuters. Even though the U.S. Federal Reserve has embarked on its most aggressive tightening cycle in four decades, average ...
