(Reuters) – Brazil’s Finance Minister Fernando Haddad said on Thursday that the central bank has an opportunity to lower interest rates to help boost economic growth as fiscal and monetary policies are converging. “I want to believe that the central bank has a window of opportunity that I hope will be taken advantage of so…
By Balazs Koranyi WASHINGTON (Reuters) – The European Central Bank needs to keep raising rates given stubbornly high underlying inflation and its next move could be either a 25 or a 50 basis point increase, Governing Council member Bostjan Vasle said on Thursday. The ECB has raised rates by a record 350 basis points since…
By Chris Taylor NEW YORK (Reuters) – Face it, we could all use a little help with our money. So who better to ask for personal finance advice than a couple of the most powerful chatbots on the planet? Both OpenAI’s ChatGPT and Google’s Bard are dominating headlines recently, for their generative capabilities and vast…
WASHINGTON (Reuters) – U.S. producer prices unexpectedly fell in March as the cost of gasoline declined, and there were signs that underlying producer inflation was subsiding. The producer price index for final demand dropped 0.5% last month, the Labor Department said on Thursday. Data for February was revised to show the PPI unchanged instead of…
By Andrea Shalal WASHINGTON (Reuters) – Global creditors, debtor nations and international financial institutions on Wednesday agreed ways to jumpstart and streamline long-stalled debt restructuring efforts, including through improved data sharing and clearer timetables. The World Bank, International Monetary Fund and India, current president of the Group of 20 (G20) major economies, issued a joint…
By Lawrence Delevingne (Reuters) – As First Republic Bank’s share price fell by double-digits in the aftermath of the collapse of Silicon Valley Bank last month, some people close to the San Francisco-based lender were worried short sellers were exacerbating its travails, according to a source familiar with the situation. Investors who wager shares in…
By Michael S. Derby NEW YORK (Reuters) – Americans said last month that access to credit was at its toughest level in nearly a decade, as they also braced for higher levels of inflation over the next few years, a report from the New York Fed said Monday. In the March Survey of Consumer Expectations,…
By Davide Barbuscia NEW YORK (Reuters) -The Federal Reserve’s preferred bond market signal of an upcoming recession has plunged to fresh lows, bolstering the case for those who believe the central bank will soon need to cut rates in order to revive economic activity. Research from the Fed has argued that the “near-term forward spread”…
By Patturaja Murugaboopathy and Chuck Mikolajczak (Reuters) – U.S. dividend funds have faced steep outflows this year after strong inflows last year as investors rush to safer money market funds and bank deposits, providing high returns without much risk. Interest rates on short-tenor bonds have risen this year on expectations that the U.S. Federal Reserve…
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Complaints from consumers about banks and other financial firms in Germany rose by a fifth last year, official data shows, as regulators flex their muscles to shore up trust in the sector. BaFin, Germany’s financial watchdog, has been increasing its focus on consumer protection in the…
