Post-Brexit ‘Big Bang’ reform of UK financial sector a ‘damp squib’, say lawmakers
People walk through the City of London financial district in London, Britain, September 13, 2021. REUTERS/Hannah McKay/File Photo Acquire Licensing...
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GLOBAL ECONOMY Global factory activity stays weak, uncertainty on China clouds outlook
An employee works on a production line manufacturing steel structures at a factory in Huzhou, Zhejiang province, China May 17,...
Yellen says US economy does not need drastic tightening, ‘soft landing’ on track
U.S. Treasury Secretary Janet Yellen attends a press conference in San Francisco, California, U.S., November 10, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsBESSEMER CITY, North Carolina, Nov 30 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Thursday she believes the U.S. economy does not need further drastic monetary policy tightening to stamp out inflationary expectations and was on track to achieve a "soft landing" with strong employment.Yellen told reporters after a speech at a lithium processing plant in North Carolina that in the past, the Federal Reserve sometimes had...
US consumer spending cools; labor market gradually slowing
Consumer spending increases 0.2% in OctoberPersonal income gains 0.2%; saving rate climbs to 3.8%Core PCE price index rises 0.2%; up...
Market pushback on central banks’ rates view just got louder
Markets now price hefty ECB, Fed rate cuts in 2024Nov euro zone inflation eases more than expectedGap with central bank messaging widens furtherLONDON, Nov 30 (Reuters) - A big disconnect between financial markets and central banks has just got deeper, with traders ramping up their bets on interest rate cuts in the United States and Europe as evidence grows that inflationary pressures are fast abating.Money markets are now pricing in over 100 basis points apiece of rate cuts from the U.S. Federal Reserve and European Central Bank next year, and...
US third-quarter growth revised higher; corporate profits rise strongly
Third-quarter GDP growth raised to 5.2% rate from 4.9%Consumer spending revised lowerCorporate profits increase 4.3%WASHINGTON, Nov 29 (Reuters) - The...
Political noise distracts central Europe’s rate-setting
People walk in front of the Polish Central Bank (NBP) building in Warsaw, Poland, September 8, 2022. REUTERS/Kacper Pempel/File Photo Acquire Licensing RightsCentral bank governors under fire from politiciansHungarian government pushes for sharp rate cutsIncoming Polish government seeks to oust governorPoland, Hungary facing years of high inflationWARSAW/BUDAPEST, Nov 27 (Reuters) - The central bank governors of Poland and Hungary are caught up in noisy disputes with opponents over their rate-setting policy, raising new hazards for investors willing to brave central Europe's bitterly polarised politics.In Poland, governor Adam Glapinski stands accused...
Germany’s economy shrinks slightly in third quarter
A double decker bus passes the skyline with its dominating banking district in Frankfurt, Germany, November 8, 2023. REUTERS/Kai Pfaffenbach/File...
UK consumer confidence jumps despite lingering inflation pain
A woman with shopping bags waits for a bus, Hanley, Britain, November 20, 2023. REUTERS/Carl Recine/File Photo Acquire Licensing RightsLONDON,...
Fed shifts into cautious policy mode as risks become more two-sided
WASHINGTON, Nov 21 (Reuters) - U.S. Federal Reserve officials agreed at their last policy meeting that they would proceed "carefully" and only raise interest rates if progress in controlling inflation faltered, the minutes of the Oct. 31-Nov. 1 gathering showed on Tuesday."All participants agreed that the Committee was in a position to proceed carefully," according to the minutes, which appeared to show support for more rate hikes dissipating within the U.S. central bank's Federal Open Market Committee, and the baseline shifting to one in which its benchmark overnight interest rate...