Bank of Canada expected to push interest rates into restrictive territory
The Bank of Canada is widely expected to deliver yet another oversized interest rate hike next week, lifting its policy rate into restrictive territory for the first time in two decades, but bets are split on whether or not a pause will follow.
Ukraine economy could grow by 15.5% in 2023 after deep fall – minister
Ukraine’s economy should stabilise over the coming year and expand by as much as 15.5% in 2023, depending on military developments in the war against Russia that began on Feb. 24, the country’s economy minister told Reuters in an interview.
Ghana delivers biggest rate hike ever at emergency meeting
Ghana’s central bank on Wednesday delivered its biggest rate hike ever, a 300 basis point increase to 22%, at an emergency meeting to address the economy’s rapid deterioration amid crippling inflation.
Dollar gains as markets reassess Fed rate hike bets
The dollar edged higher in early London trading on Friday, after hawkish comments from U.S. Federal Reserve officials pushed against the idea this week’s U.S. inflation data could prompt the central bank to slow down policy tightening.
Swiss National Bank posts record H1 loss, says no policy impact
The Swiss National Bank (SNBN.S) reported a first-half loss of 95.2 billion Swiss francs ($100.08 billion) on Friday, the biggest six-month loss since the central bank was founded in 1907.
Russian rouble weakens as market takes stock of rate cut
The Russian rouble weakened in jittery Moscow trade on Monday, adjusting to the central bank’s decision to slash interest rates on Friday, and as a rouble-supportive tax-payment period reaches its peak.
China plans real estate fund worth up to $44 billion for distressed sector, source says
China will launch a real estate fund to help property developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44 billion) in a bid to restore confidence in the industry, according to a state bank official with direct knowledge of the matter.
Exclusive: Citi, Raiffeisen, other foreign banks seek staff in Russia as they struggle to exit
Russian divisions of foreign banks, such as Citi and Raiffeisen Bank International (RBIV.VI), have started looking for staff this month after Russian authorities moved to block them exiting the country, industry sources and a recruiting company said.
Global equity funds post third weekly outflow on slowdown fears
Global equity funds faced a third straight week of outflows in the week to July 12 on concerns over the prospect of further central bank interest rate hikes and the health of economies worldwide.
Recession fears creep into ECB thinking at summer conference
European Central Bank policymakers put on a brave face at their annual gathering in the hills above the Portuguese capital and forecast further economic expansion despite looming gas shortages, but in private conversations recession fears were increasingly dominant.
