The European Central Bank should cut interest rates in June to avoid falling behind the inflation curve, according to ECB policymaker François Villeroy de Galhau. “The question is the next Governing Council which will be early June … and here barring a major surprise we should cut rates because we are now confident enough and … Read more
Higher interest rates last year contributed to the largest gap in income inequality since 2015, according to a new Statistics Canada report. The findings come one day after the federal government tabled its 2024 budget, which one economist says won’t make many short-term differences in Canadians’ bank accounts. The StatCan report released Wednesday said Canada’s … Read more
Federal Reserve Chair Jerome Powell speaks during a House Financial Services Committee hearing on the “Federal Reserve’s Semi-Annual Monetary Policy Report” on Capitol Hill in Washington, U.S., March 6, 2024. Bonnie Cash | Reuters If there was any doubt before, Federal Reserve Chair Jerome Powell has pretty much cemented the likelihood that there won’t be … Read more
Joachim Nagel, president of Deutsche Bundesbank, during A Bloomberg Television interview following the central bank’s “Annual Report 2023” news conference in Frankfurt, Germany, on Friday, Feb. 23, 2024. “ Alex Kraus | Bloomberg | Getty Images European Central Bank policymaker Joachim Nagel said Wednesday that a rate cut for the organization looks increasingly likely for … Read more
Robert Holzmann, governor of Austria’s central bank, speaks during an event in Vienna, Austria, on Tuesday, Sept. 26, 2023. Bloomberg | Bloomberg | Getty Images Tensions in the Middle East pose the biggest threat to a prospective interest rate cut from the European Central Bank, according to ECB policymaker Robert Holzmann. “At this stage, I … Read more
Financial Counsellor and Director of the Monetary and Capital Markets Department Tobias Adrian hold the press briefing of the Global Financial Stability Report at the International Monetary Fund during the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington DC, United States on April 16, 2024. Anadolu | … Read more
Regional bank earnings may expose critical weaknesses, according to Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corp. Their quarterly numbers begin hitting Wall Street this week. “I’m worried about a handful of them,” Bair told CNBC’s “Fast Money” on Tuesday. “I think some of them are still overly reliant on industry deposits, … Read more
Federal Reserve Chair Jerome Powell said the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal. Speaking to a policy forum focused on U.S.-Canada economic relations, Powell said that while inflation continues to make its way lower, the current state of policy should remain intact. “More recent data … Read more
Christine Lagarde, president of the European Central Bank (ECB), at a rates decision news conference in Frankfurt, Germany, on Thursday, April 11, 2024. Bloomberg | Bloomberg | Getty Images European Central Bank President Christine Lagarde on Tuesday said the central bank remains on course to cut interest rates in the near term, subject to any … Read more
SINGAPORE – Asian stocks fell and the dollar climbed to more than five-month highs on Tuesday as stronger-than-expected U.S. retail sales for March further reinforced expectations that the Federal Reserve is unlikely to be in a rush to cut interest rates this year. Rising geopolitical tensions kept risk sentiment in check, lifting prices of gold … Read more
