Currencies

Fed's Williams sees slower growth, higher inflation this year on tariffs, uncertainty

ALBANY -Federal Reserve Bank of New York President John Williams expects slower growth and higher inflation this year due in large part to trade tariffs, in comments that suggested he is in no rush...

Fed's Hammack sees no imminent need to cut interest rates

Federal Reserve Bank of Cleveland President Beth Hammack said Tuesday she sees no pressing need to cut interest rates when there’s still a lot of uncertainty what trade tariffs will do to inflation,...

Instant View: Canada's annual inflation rate at 1.7% in May, unchanged from April

TORONTO -Canada's annual inflation rate in May was unchanged from the previous month at 1.7% as a drop in gasoline costs continued to keep the overall index stable while prices of shelter, food and...

Powell repeats rate cuts can wait as Fed studies tariff impacts

WASHINGTON -Higher tariffs could begin raising inflation this summer, a period that will be key to Federal Reserve consideration of possible rate cuts, Fed Chair Jerome Powell told members of...

Oil, rates and the dollar tumble

What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Financial Industry and Financial Markets After a tentative ceasefire was announced in the...

Russia says NATO needs to demonise it to justify 5% defence spending target

MOSCOW -The Kremlin said on Tuesday that NATO was on a path of rampant militarisation and bent on portraying Russia as a fiend of hell in order to justify committing to a big increase in member...

Exclusive-Fed should wait on rate cuts with price hikes expected, Bostic says

ATLANTA -The Federal Reserve need not cut interest rates with companies planning to raise prices later this year in response to higher import taxes and with the job market still stable, Atlanta Fed...

DAX Surges on Relief Over Ceasefire

The ceasefire between Israel and Iran, announced by US President Donald Trump, has renewed risk appetite among DAX investors. The German benchmark index jumped 1.8 percent at the open, reaching 23,688...

Rupee jumps most in a month as Iran-Israel ceasefire sparks relief rally

The Indian rupee had its best day in a month on Tuesday as oil prices slumped, the dollar weakened and Asian currencies rallied after a ceasefire between Israel and Iran went into effect, reviving...

Fed's Bowman open to cutting rates at July policy meeting

NEW YORK -Federal Reserve Vice Chair for Supervision Michelle Bowman, recently tapped by President Trump as the U.S. central bank's top bank overseer, said Monday the time to cut interest rates is...

US existing home sales rise in May; mortgage rates still a constraint

WASHINGTON -U.S. existing home sales unexpectedly increased in May, but the trend remained weak amid high mortgage rates. Home sales climbed 0.8% last month to a seasonally adjusted...

Italy has frozen Russian oligarchs' assets worth over $2.6 billion

MILAN -Italy has frozen Russian oligarchs' assets valued at around 2.3 billion euros since the invasion of Ukraine in 2022, data provided by Italian authorities show, with the most recent seizures...

Kenyan shilling steady versus dollar, LSEG data shows

NAIROBI -Kenya's shilling was stable against the dollar on Monday, data from the London Stock Exchange Group showed. At 0700 GMT, commercial banks quoted the shilling at 129.00/50 per...

Taiwan central bank says US debt rising too fast may impact trust in Treasuries

TAIPEI -Taiwan's central bank governor warned on Saturday that rapidly rising U.S. debt could be unfavourable to the outlook for U.S. Treasuries and that U.S. President Donald Trump's trade policies...

Trump says he may change his mind about firing Fed Chair Powell

WASHINGTON -U.S. President Donald Trump on Friday again floated the idea of firing Jerome Powell, the Federal Reserve chair he has long attacked over interest rates he wants lowered. I...

Putin says war in Ukraine is not killing Russia's economy

ST PETERSBURG, Russia -Russian President Vladimir Putin on Friday dismissed claims the war in Ukraine is devastating the Russian economy, citing continued growth, low debt and economic...

Still early to assess tariff impact on economy, Fed report says

The Federal Reserve's latest Monetary Policy Report to Congress, released on Friday, said U.S. inflation is somewhat elevated and the labor market is in solid shape, but suggested that President...

Putin says war in Ukraine is not killing Russia's economy

* Putin says Russia must not let economy slip into recession * Tells officials to ensure balanced growth for cooling economy * Pressure...

Fed split on whether to hedge on inflation, or proceed with cuts

WASHINGTON -The close split at the U.S. Federal Reserve over whether to keep hedging against inflation risks or move forward faster with rate cuts came through on Friday in the first public comments...