Currencies

China leaves policy rate unchanged after Fed rate reduction

China's central bank left a key interest rate unchanged on Thursday, as authorities appear in no rush to ease monetary settings despite the U.S. Federal Reserve's decision to reduce rates just hours...

Fed's Powell explains how central bank moderate rates mandate works

Federal Reserve Chair Jerome Powell on Wednesday explained why the three missions Congress imposed on the central bank add up to two in real-world conditions. Powell, speaking at a...

No big push for a larger rate cut, Fed's Powell says

There was no widespread support for a larger, half-percentage-point interest rate cut at the Federal Reserve meeting this week, Fed Chair Jerome Powell said on Wednesday after the central bank cut...

Fed lowers interest rates, signals more cuts ahead; Miran dissents

The Federal Reserve, goaded by the risk of rising unemployment, reduced interest rates on Wednesday for the first time since December and indicated more cuts would follow to halt any slide in a labor...

Russian government explores way to make ends meet as budget deadline looms

The Russian government is considering raising the rate of value-added tax to keep the budget deficit in check and maintain reserves, four sources told Reuters, despite public assurances from President...

US single-family housing starts near 2-1/2-year lows as inventory bloat weighs

U.S. single-family homebuilding plunged to a near 2-1/2-year low in August amid a glut of unsold new houses, suggesting the housing market could remain an economic headwind this quarter.   ...

Bank of Canada cuts benchmark interest rate by 25 basis points

TORONTO -The Bank of Canada on Wednesday lowered its benchmark interest rate by 25 basis points to 2.5%, its first cut in six months. MARKET REACTION: [CAD/] LINK:  ...

Bank of Canada cuts rates to 2.5%, says ready to cut again if risks rise

The Bank of Canada reduced its key policy rate to a three-year low of 2.5% on Wednesday, the first cut in six months, and said it would be ready to cut again if risks to the economy increased in...

FULL TEXT- Bank of Canada cuts rates to 2.50%

The Bank of Canada released the following statement on Wednesday: The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at...

FULL TEXT-Bank of Canada head says rate cut designed to help balance risks to economy

The Bank of Canada released the following statement by Governor Tiff Macklem on Wednesday: Good morning. I'm pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss...

US single-family housing starts, building permits drop in August

WASHINGTON -U.S. single-family homebuilding and permits for future construction dropped in August amid a glut of unsold new houses and a softening labor market, shrugging off falling mortgage rates....

EU Commission proposes suspending free-trade arrangements on Israeli goods

The European Commission on Wednesday proposed suspending a trade arrangement affecting about 5.8 billion euros of Israeli exports due to the Gaza war, although the measure does not currently have...

US 30-year mortgage rate drops, refinances jump, MBA data shows

The interest rate on the most popular U.S. home loan dropped last week to its lowest in a year, sending homeowners racing to lock in cheaper borrowing costs as slowing jobs growth and expectations...

Bank of Canada cuts rates to three-year low, cites risks to economy

The Bank of Canada reduced its key policy rate to a three-year low of 2.5% on Wednesday, the first cut in six months, citing a weak jobs market and less concern about underlying pressures on...

Russia's space chief promises an analogue for Musk's Starlink soon

MOSCOW -Russia will soon have an analogue to Elon Musk's satellite internet service Starlink, Dmitry Bakanov, the head of Russia's Roscosmos space agency was quoted by state news agencies as saying...

Food prices drive British inflation to 3.8% in August, above US, euro zone

British inflation in August held at 3.8%, official data showed on Wednesday, the highest among major advanced economies and reinforcing expectations that the Bank of England will not cut interest...

EU's von der Leyen, Trump discuss new steps to increase economic pressure on Russia

European Commission President Ursula Von der Leyen said on Tuesday that she had a call with U.S. President Donald Trump on strengthening joint efforts to increase economic pressure on Russia through...

PIMCO recommends Fed halt mortgage unwind to boost housing market

U.S. bond firm PIMCO said on Tuesday the Federal Reserve should consider a halt to the shrinking of its mortgage holdings in order to boost the U.S. housing market. Since 2022 when it...

Russia's Medvedev says 2026 'wartime' budget should safeguard social spending

MOSCOW -Former Russian President Dmitry Medvedev called the draft 2026 budget, now in preparation, a wartime budget and said social spending including support for veterans of the conflict in Ukraine...