Bank of Canada says high rates are starting to work, housing and debt are a concern

OTTAWA, Nov. 22 (Reuters) – Higher interest rates are starting to slow Canada’s economy, the Bank of Canada said on Tuesday, putting pressure on highly indebted households and those who recently bought homes on variable-rate mortgages. “It will take time to get back to solid growth with low inflation, but we will get there,” Deputy … Read more

NY Fed: Bank liquidity may be tighter than thought, with policy implications

Nov 18 (Reuters) – The way the banking system manages its cash suggests the financial system may not be as good as many now understand, and that could have implications for how the Federal Reserve manages the size of its balance sheet, a paper says of the The Federal Reserve Bank of New York said … Read more

UK’s Hunt says he needs to raise taxes to restore the economy

The British Chancellor of the Exchequer says tax increases are coming ‘You must do what is right for the country’ – Hunt New forecasts show a recession is coming Priority is reducing inflation – Hunt LONDON, Nov 12 (Reuters) – Britain’s Chancellor of the Exchequer Jeremy Hunt said next week’s budget plan will need to … Read more

Inflation in Turkey hits 24-year high of 85.5% after interest rate cuts

ISTANBUL, Nov 3 (Reuters) – Turkish annual inflation climbed to a new 24-year high of 85.51% in October, official data showed on Thursday, slightly lower than expected after the central bank cut its key rate despite rising prices. Inflation has soared since last year, when the lira collapsed after the central bank began cutting its … Read more

Swiss National Bank loses nearly $143 billion in first nine months

Central bank hit by downturn in bonds, stock prices Stronger Swiss franc also causes losses SNB will not go bankrupt, analyst says Bank can operate with negative equity, says SNB ZURRICH, Oct. 31 (Reuters) – The Swiss National Bank (SNBN.S) lost 142.2 billion Swiss francs ($142.60 billion) in the first nine months of 2022, it … Read more

No hassle with red-hot inflation: five questions for the ECB

LONDON, Oct. 24 (Reuters) – The European Central Bank, meeting on Thursday, appears in no mood to slow the pace of aggressive rate hikes amid red-hot inflation – even as the economic outlook darkens. It has raised rates by a total of 125 basis points (bps) since July, the fastest pace of policy tightening ever. … Read more

The Fed may need to slow or stop balance sheet trimming by 2023, says Barclays

NEW YORK, Oct. 20 (Reuters) – According to a report from Barclays, the Federal Reserve may need to slow or shut down its nearly $9 trillion balance sheet sooner than many now expect. The investment bank’s analysts wrote this week that the current rate of decline is likely to change in the first half of … Read more

UK Chancellor of the Exchequer Hunt sets up a council of experts to advise him

LONDON, Oct. 17 (Reuters) – Britain’s new Chancellor of the Exchequer, Jeremy Hunt, said on Monday he was setting up an Economic Advisory Board to give him “independent expert advice” as he tries to steer the economy out of a crisis of investor confidence . Hunt said the board would consist of Rupert Harrison, a … Read more

As Britain’s Truss fights for her job, new Chancellor of the Exchequer warns of tough decisions

Prime Minister Truss fired Finance Minister on Friday New Chancellor Hunt warns of difficult decisions Ruling Conservatives have slumped in polls Some Conservative Lawmakers Say Truss Will Be Impeached LONDON, Oct. 15 (Reuters) – Britain’s new Chancellor of the Exchequer, Jeremy Hunt, said on Saturday some taxes would rise and tough spending decisions were needed, … Read more

US Treasury asks major banks if it should buy back bonds

Oct 14 (Reuters) – The US Treasury Department is asking primary dealers of US Treasuries whether the government should buy back some of its bonds to improve liquidity in the $24 trillion market. Liquidity in the world’s largest bond market has deteriorated this year, partly as a result of increasing volatility as the Federal Reserve … Read more