By Saqib Iqbal Ahmed NEW YORK (Reuters) – Cooling U.S. inflation is accelerating a decline in the dollar, and risk assets around the world stand to benefit. The dollar is down nearly 13% against a basket of currencies from last year’s two-decade high and stands at its lowest level in 15 months. Its decline quickened…
A look at the day ahead in European and global markets from Sonali Desai Thursday’s Goldilocks blend of cooling U.S. inflation and a still toasty jobs market continues to cast a glow across markets, with stocks in Asia extending a rally while lower global yields spur a further unwinding of yen carry trades. MSCI’s broadest…
By Emma Farge and Marc Jones GENEVA/LONDON (Reuters) – A United Nations agency urged global finance ministers to give poor countries debt repayment breaks, estimating the COVID-19 pandemic and subsequent surge in inflation and borrowing costs had pushed an extra 165 million people into poverty. The U.N. Development Programme said the jump meant more than…
SYDNEY (Reuters) – Australia’s government announced on Friday that Michele Bullock, Deputy Governor at the Reserve Bank of Australia, will take over from Governor Philip Lowe in September, following a review that has recommended sweeping changes to the decades-old institution. In one of his final actions before the decision, Lowe on Wednesday outlined the changes…
By Chen Lin SINGAPORE (Reuters) -Singapore’s economy narrowly escaped a recession in the second quarter as global demand weakened and China’s slowdown dragged on trade flows, leading some economists to cut their growth forecasts for the year. The Southeast Asian economy grew a seasonally adjusted 0.3% quarter-on-quarter, following a 0.4% contraction in the first three…
By Xie Yu and Makiko Yamazaki HONG KONG/TOKYO (Reuters) – Global hedge funds and asset managers are scouring Tokyo for talent to expand in Japan and ride a surge of investor interest that has lifted the stock market to its highest in more than three decades. Lured by signs of improving governance and better shareholder…
BRUSSELS (Reuters) – Euro zone finance ministers agreed on Thursday that the single currency area needed a “determined, gradual and realistic” reduction of government spending to boost economic growth and prepare for future challenges. In a statement agreed at the Eurogroup meeting in Brussels, the ministers said economic growth in 2024 was expected to improve…
TOKYO (Reuters) -Nissan Motor is likely to invest around 100 billion yen ($725 million) in Renault’s new electric vehicle unit, the Yomiuri Shimbun said on Friday, potentially clearing a hurdle in drawn-out talks to reshape their automaking alliance. The Japanese automaker on Thursday settled on the terms for a contract to overhaul its partnership with…
SINGAPORE (Reuters) – Australia on Friday appointed Michele Bullock as the next central bank governor, replacing Philip Lowe to become the first female head of the key institution. Reserve Bank of Australia (RBA) Governor Lowe’s current seven-year term is due to finish on Sept. 17, which will now mark the end of his 43-year career…
By Wayne Cole SYDNEY (Reuters) – The head of Australia’s central bank suffered an early end to his 43-year career on Friday as past missteps in pandemic policy so tested public trust in the institution that the government felt compelled to drop him. If there’s a moral to the tale of Reserve Bank of Australia…
