Stubbornly high rents and food prices boost US inflation in August

The consumer price index increases by 0.1% in August Rents, food and health care explain the rise in the CPI Core CPI jumped 0.6%; increased 6.3% year-over-year WASHINGTON, Sept 13 (Reuters) – U.S. consumer prices rose unexpectedly in August and core inflation accelerated amid rising rent and health care costs, giving the Federal Reserve ammunition … Read more

ECB raises rates by an unprecedented 75 basis points to fight inflation

Join now for FREE unlimited access to Reuters.com Register Increases deposit rate to 0.75% from zero Eurozone inflation uncomfortably high and rising New ECB forecasts show higher inflation and weaker growth Other rate hikes reported Lagarde will speak at 12:45 GMT FRANKFURT, Sept 8 (Reuters) – The European Central Bank raised key rates by a … Read more

Biden Forgives Millions in Student Loans; critics fear inflation

WASHINGTON, Aug 24 (Reuters) – President Joe Biden said on Wednesday the U.S. government would forgive $10,000 in student loans to millions of indebted former students, fulfilling a promise he made during the 2020 campaign to the White House. The move could bolster support for his fellow Democrats in November’s congressional elections, but some economists … Read more

China lowers lending standards to revive faltering economy

FILE PHOTO: Employees work on the vehicle component production line during a government-organized media tour at a factory of German engineering group Voith, following the outbreak of the coronavirus disease (COVID -19), in Shanghai, China July 21, 2022. REUTERS/Aly Song Join now for FREE unlimited access to Reuters.com Register SHANGHAI, Aug 22 (Reuters) – China … Read more

Fed minutes show more rate hikes in pipeline, but pace may slow

The Federal Reserve Building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid/File Photo Join now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 17 (Reuters) – Federal Reserve officials saw “little evidence” late last month that inflationary pressures in the United States were easing and strengthening to force the … Read more

China unexpectedly cuts 2 key rates and withdraws money from the banking system

The headquarters of the People’s Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee Join now for FREE unlimited access to Reuters.com Register SHANGHAI, Aug 15 (Reuters) – China’s central bank unexpectedly cut a key interest rate for the second time this year and withdrew liquidity from … Read more

Chinese factory activity unexpectedly contracts in July as COVID flares up

Employees work on the vehicle component production line during a government-organized media tour at a factory of German engineering group Voith, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China July 21, 2022. REUTERS/Aly Song Join now for FREE unlimited access to Reuters.com Register China July official manufacturing PMI lower than expected July official services … Read more

Fed to unveil another big rate hike as signs of economic slowdown mount

U.S. Federal Reserve Chairman Jerome Powell answers questions during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., June 15, 2022 .REUTERS/Elizabeth Frantz/File Photo Join now for FREE unlimited access to Reuters.com Register WASHINGTON, July 27 (Reuters) – As the Federal Reserve is expected to raise its … Read more

Australian inflation hits 21-year high, peak yet to come

Q2 CPI rose 1.8% q/q, 6.1% y/y just below forecast Core inflation up record 4.9% YoY vs RBA target of 2-3% RBA seen 50bps rise next week, 75bps less chance SYDNEY, July 27 (Reuters) – Australian inflation hit a 21-year high in the last quarter and is expected to pick up further as food and … Read more