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June 11, 2021

Interest Rates / Policy

Egypt projects 7.1% increase in debt financing needs in 2021/22

Reuters
FILE PHOTO: A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh/File Photo CAIRO (Reuters) – Egypt expects its debt financing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the......

Bank of Israel keeps benchmark interest rate at 0.1%

Reuters
JERUSALEM, April 19 (Reuters) – The Bank of Israel held its benchmark interest rate at 0.1% for an eighth straight meeting on Monday amid optimism over an economic recovery due to a rapid COVID-19 vaccine rollout and inflation turning positive. All 16 economists polled by Reuters had said they expected......

Economy far from central bank’s goals but outlook brightening, Fed’s Mester says

Reuters
FILE PHOTO: Cleveland Federal Reserve Bank President Loretta Mester speaks in London, Britain, July 2, 2019. REUTERS/Marc Jones/File Photo (Reuters) -The U.S. economy still has a long way to go to fully recover from the crisis caused by the coronavirus pandemic, which hit minorities and people with lower levels of......

Turkish cenbank holds rates at 19%, drops tightening pledge

Reuters
By Ali Kucukgocmen, Jonathan Spicer ISTANBUL (Reuters) -Turkey’s central bank held rates steady at 19% as expected on Thursday and dropped a pledge to tighten policy further if needed, in its first decision since President Tayyip Erdogan fired the hawkish former governor and set off a market selloff. FILE PHOTO:......

IMF says Japan’s economy can weather change of plan in Olympics

Reuters
TOKYO (Reuters) -Cancelling or postponing the Tokyo Olympics Games probably will not hurt Japan’s economy much, but may require the government to offer targeted support for hard-hit small firms, a senior International Monetary Fund official said. FILE PHOTO: The giant Olympic rings are silhouetted in the sunset, amid the coronavirus......

Fed’s Harker says central bank will ‘hold steady’ for now

Reuters
FILE PHOTO: The Federal Reserve building is pictured in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie/File Photo (Reuters) – The U.S. economy could grow by around 5% to 6% this year, buoyed by increased vaccinations and strong fiscal aid, but the Federal Reserve is not going to pull back......

UK economy to return to pre-COVID-19 level around mid-2022: Reuters poll

Reuters
LONDON (Reuters) – Britain’s economy will be back to its pre-COVID-19 level around the middle of next year, according to economists in a Reuters poll who said unemployment would peak at 6.2% as 2021 draws to a close and the pandemic job support scheme ends. FILE PHOTO: The City of......

Instant View: India’s retail inflation rises to 5.52% in March

Reuters
(Reuters) – India’s retail inflation rose to 5.52% in March from a year earlier, government data released on Monday showed. A vendor waits for customers at his shop inside a vegetable market in Kolkata, India, February 12, 2020. REUTERS/Rupak De Chowdhuri/Files Analysts in a Reuters poll had predicted annual inflation......

Ecuador shuns socialism with Lasso’s surprise election

Reuters
By Brian Ellsworth, Alexandra Valencia (Reuters) – Ecuadorean banker Guillermo Lasso unexpectedly won the nation’s presidency on promises to revive an economy battered by coronavirus as his rival’s vows of a return to socialist largesse failed to win over a skeptical electorate. Lasso took 52% of the vote in the......

Canada’s housing price surge increasing vulnerabilities: BoC

Reuters
OTTAWA (Reuters) – Canada’s red-hot housing market has bolstered the economic recovery from the COVID-19 pandemic, but the market imbalances are escalating and driving up already-high household debt, the Bank of Canada said on Friday. FILE PHOTO: A sign is pictured outside the Bank of Canada building in Ottawa, Ontario,......

NY Fed may make technical adjustment due to asset purchases, official says

Reuters
FILE PHOTO: The cornerstone for the Federal Reserve Bank of New York is pictured in the Manhattan borough of New York City, New York, U.S., October 4, 2019. REUTERS/Carlo Allegri (Reuters) – The Federal Reserve’s ongoing asset purchases are lifting bank reserves to new highs and contributing to a new......

Fed presses ahead on policy debate as economy takes off

Reuters
WASHINGTON (Reuters) – Last month’s U.S. Federal Reserve meeting showed policymakers were universally optimistic in their overall economic outlook, but divisions among them over how much longer to keep massive central bank support in place were on display Wednesday. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured......

Futures struggle for direction ahead of Fed minutes

Reuters
FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York City, U.S., March 29, 2021. REUTERS/Brendan McDermid/File Photo (Reuters) – U.S. stock index futures were little changed on Wednesday as investors stayed on the sidelines ahead of minutes from the Federal Reserve’s last......

‘Millionaires tax’ threat has some NY bankers, managers eyeing exits

Reuters
BOSTON (Reuters) – For decades New York’s bankers and fund managers have accepted the city’s high tax rates as a part of working in the world’s premier financial capital. FILE PHOTO: A woman walks past JPMorgan Chase & Co’s international headquarters on Park Avenue in New York July 13, 2012.......

‘Millionaires tax’ threat has some NY bankers, managers eyeing exits

Reuters
BOSTON (Reuters) – For decades New York’s bankers and fund managers have accepted the city’s high tax rates as a part of working in the world’s premier financial capital. FILE PHOTO: A woman walks past JPMorgan Chase & Co’s international headquarters on Park Avenue in New York July 13, 2012.......

‘Millionaires tax’ threat has some NY bankers, managers eyeing exits

Reuters
BOSTON (Reuters) – For decades New York’s bankers and fund managers have accepted the city’s high tax rates as a part of working in the world’s premier financial capital. FILE PHOTO: A woman walks past JPMorgan Chase & Co’s international headquarters on Park Avenue in New York July 13, 2012.......

Global money market funds obtain highest inflows in 14 weeks – Lipper

Reuters
(Reuters) – Investments into money market funds surged to the highest this year in the week ended March 31, as investors favoured safety amid a fall in bond prices and fresh lockdowns in Europe, with the region grappling to contain a rising number of coronavirus infections. FILE PHOTO: Rolled Euro......

Take Five: Spring in the step

Reuters
1/ SPRING MEETINGS FILE PHOTO: International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas/File Photo Financial policymakers from around the globe are preparing to convene — virtually of course — for the springtime......

Euro zone inflation bounce masks weak trend: Lane

Reuters
FRANKFURT (Reuters) – The surge in euro zone inflation is driven by transient factors but underlying trends remain weak, so the European Central Bank needs to maintain copious support for the economy, ECB chief economist Philip Lane said on Thursday. FILE PHOTO: European Central Bank Chief Economist Philip Lane speaks......

Sensex, Nifty fall weighed by financials

Reuters
FILE PHOTO: People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020. REUTERS/Francis Mascarenhas/File photo BENGALURU (Reuters) – Indian shares fell on Wednesday, after gaining more than 2% in the previous session, pressured by financial stocks, as rising U.S. Treasury yields renewed concerns of foreign......

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