ANKARA (Reuters) – The Turkish central bank’s net international reserves dropped some $4.45 billion to a 21-year low of $2.33 billion in the week to May 12, as forex demand surged ahead of elections, official data showed on Thursday. The bank’s total gross reserves plunged $9 billion in the same week to $105.13 billion, the…
A look at the day ahead in U.S. and global markets from Yoruk Bahceli. Markets are heading into the weekend basking in optimism that a debt ceiling deal to avert a catastrophic U.S. Treasury default will be struck soon. All eyes are on Sunday, when President Joe Biden holds a press conference. His team have…
By Leika Kihara TOKYO (Reuters) -Bank of Japan (BOJ) Governor Kazuo Ueda said the central bank is unwavering in its stance of patiently maintaining ultra-loose monetary policy, reassuring markets Japan will be a dovish outlier as its global peers combat stubbornly high inflation. The recent rise in Japanese inflation above the BOJ’s 2% target is…
BERLIN (Reuters) – German producer prices posted their slowest annual increase in two years in April, according to data released on Friday, in a tentative sign that inflation may ease further in Europe’s largest economy. Producer prices of industrial products were up 4.1% in April on the same month last year following a 6.7% rise…
By Byron Kaye and Lewis Jackson SYDNEY (Reuters) -Australia’s Westpac Banking Corp said it will refinance loans for some borrowers who don’t meet an industry standard that assesses their ability to repay, putting pressure on the bank regulator to relax guidelines after a year of interest rate hikes. The country’s No. 2 mortgage provider has…
By Matthias Williams, Olena Harmash and John O’Donnell LONDON/KYIV (Reuters) – Ukraine wants its allies to be bolder in imposing sanctions on Russia, including by targeting banks that provide financial services to serving soldiers, a senior adviser told Reuters. Vladyslav Vlasiuk, who advises President Volodymyr Zelenskiy’s chief of staff, also urged allies not to fear…
By Leika Kihara TOKYO (Reuters) – As inflation has run past the Bank of Japan’s 2% target, governor Kazuo Ueda has had no shortage of advice from fellow academics on how best to communicate the future path of monetary policy including a possible exit from its massive stimulus. The proposals include call for the BOJ…
By Andreas Rinke HIROSHIMA, Japan (Reuters) – The Group of Seven (G7) rich nations should work together to access technology and secure sources of critical minerals for a green transition, creating additional manufacturing capacity rather than competition, a top European diplomat said on Friday. The G7 is accelerating its push towards greener technologies after Russia’s…
By James Pomfret and Engen Tham HONG KONG/SHANGHAI (Reuters) – Some Hong Kong-based staff with U.S. consultancy Mintz Group have left the city after the firm’s Beijing office was raided by Chinese police in March, according to two sources with direct knowledge of the matter. Investigations by Chinese authorities into Mintz, as well as U.S….
By Olena Harmash KYIV (Reuters) – Almost as soon as Russia invaded Ukraine last year, Ukrainian businessman Rostyslav Vovk realised he needed to look beyond the country’s borders to keep his pet food company growing. The ongoing conflict has prompted several Ukrainian firms to focus abroad to reduce their reliance on a shrinking home market…
