By James Pomfret and Jessie Pang (Reuters) -For Anna Kwok, a Washington-based Hong Kong activist, the imposition of a Hong Kong police bounty for her arrest has underscored the urgency of her bid for political asylum at a time of growing tensions between the United States and China. The Hong Kong native, who left the…
By Lawrence Delevingne (Reuters) -Wall Street stocks advanced on Wednesday and the dollar and Treasury yields fell after new U.S. inflation data showed a slowdown in the seemingly relentless rise of consumer prices. The Consumer Price Index (CPI) gained just 0.2% last month, the Labor Department said on Wednesday, lifted by rises in gasoline prices…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar crashed to its lowest in more than a year on Wednesday after data showed the rise in U.S. consumer prices moderated in June, suggesting the Federal Reserve may have to raise interest rates only one more time this year. The dollar index dropped to as low…
By Stella Qiu SYDNEY (Reuters) -Australia’s top central banker said on Wednesday he is confident higher interest rates are working to cool inflation but it is possible they will have to rise further, suggesting a decision on whether to resume hiking in August may be a close one. Reserve Bank of Australia Governor Philip Lowe…
By Byron Kaye SYDNEY (Reuters) -Two top Australian banks said the number of home loan customers missing repayments remained below pre-COVID levels as a spike in living costs slows their discretionary spending, a sign that concerns of widespread financial distress may not materialise. After 400 basis points of interest rate hikes in 14 months, the…
SYDNEY (Reuters) – The Reserve Bank of Australia (RBA) has announced changes to how it formulates and announces interest rate decisions, following an independent review into the bank’s operation. Here are the major steps proposed, while some recommendations from the review are still to be decided on. EIGHT MEETINGS Starting from February 2024, the RBA’s…
By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s central bank held the cash rate steady at 5.5% on Wednesday, hitting pause as expected and flagging rates would be on hold for some time, with most economists still expecting rate cuts to come in 2024. With the country in a technical recession, the RBNZ said the…
By Renju Jose SYDNEY (Reuters) – Australia Treasurer Jim Chalmers said on Wednesday the cabinet would meet soon to decide the next governor of the country’s central bank, after local media reported that a government decision could be reached as early as this week. Markets are still in the dark whether Chalmers will extend Reserve…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar declined to a two-month low against a major currency index on Tuesday after Federal Reserve officials signaled that the U.S. central bank is near the end of its tightening cycle, while sterling hit a 15-month high after pay growth exceeded expectations. Against the yen, the dollar…
By Lawrence Delevingne and Amanda Cooper (Reuters) -Global shares rose and the dollar pulled back on Tuesday, a day ahead of U.S. inflation data that could warrant a quicker end to Federal Reserve rate hikes, while the prospect of China propping up growth helped to lift oil and other commodities. Wall Street posted gains across…