Currencies

Fed's Miran says he expects rate cut in December

Federal Reserve Governor Stephen Miran says he expects the U.S. central bank to cut interest rates in December, despite the number of non-voting policymakers who may not want to. I...

Fed's Hammack is nervous about Fed policy given high inflation

NEW YORK -Federal Reserve Bank of Cleveland President Beth Hammack said Thursday she's concerned monetary policy may not be in the right place to deal with current inflation. I think...

Fed's independence has global importance, Williams says

The independence of the Federal Reserve is incredibly important not just for the U.S. economy but also for the global economy because it is what allows the U.S. central bank to control inflation...

Bank of Canada says it will be reducing its workforce by 230 jobs

OTTAWA -Bank of Canada's Senior Deputy Governor said on Thursday that the central bank will be reducing its workforce by around 230 people as part of a drive to reduce expenses.  We...

Fed's Hammack leans against more rate cuts because of high inflation

NEW YORK -Cleveland Federal Reserve President Beth Hammack said on Thursday ongoing high levels of inflation argue against the U.S. central bank cutting interest rates again. I remain...

Fed's Miran continues to press for rate cuts in Yahoo Finance interview

Federal Reserve Governor Stephen Miran reiterated on Wednesday that he believes the current level of short-term rates is too restrictive and is creating risks for the U.S. economy. I...

US service sector activity accelerates in October; employment still subdued

WASHINGTON -U.S. services sector activity picked up in October amid a solid increase in new orders, but subdued employment pointed to lackluster labor market conditions against the backdrop of...

European Markets Under Pressure as BMW Boosts Auto Stocks

The sell-off in technology shares on Wall Street is making investors on European stock markets nervous. Profit-taking pushed the DAX and EuroStoxx50 down by around one percent midweek, to as low as...

Toronto home sales fall to four-month low in October

TORONTO -Greater Toronto Area home sales fell to a four-month low in October as an uncertain economic outlook discouraged buyers, Toronto Regional Real Estate Board data showed on Wednesday. ...

Loan demand from US mid- and large firms improves, Fed survey shows

Business loan demand from large and mid-sized U.S. firms strengthened by the most in about three years in the third quarter while demand from small firms was essentially unchanged from the prior...

US economy at risk of wobble as lower-income consumers get squeezed

WASHINGTON -The U.S. consumer's durability as a prop for the economy may be tested in coming weeks as family budgets, particularly among the less affluent, are stressed by rising healthcare costs,...

Bessent says high US interest rates may have caused housing recession

Parts of the U.S. economy, particularly housing, may already be in recession because of high interest rates, U.S. Treasury Secretary Scott Bessent said Sunday, repeating his call for the Federal...

Banks tap Fed Standing Repo Facility in record numbers amid month-end pressures

Federal Reserve liquidity facilities caught fire on Friday as month-end pressures pushed a key lending tool to a record level of usage. The Fed's Standing Repo Facility lent a total of...

Canada's GDP contracts in August, might avoid a recession in third quarter

OTTAWA -Canada's GDP contracted in August  against a consensus estimate of flat growth, data showed on Friday, and an advance estimate suggested the economy might escape a recession in the third...

US weekly jobless claims fall, economists estimate

WASHINGTON -The number of Americans filing new applications for unemployment benefits fell last week, economists estimated on Thursday, though new job opportunities for those who are laid off...

Yen weakens after BOJ holds rates steady, Fed boosts dollar

NEW YORK -The Japanese yen tumbled against the U.S. dollar on Thursday after the Bank of Japan adopted a less hawkish tone than traders expected, while the greenback was boosted after Federal Reserve...

BOJ chief signals chance of rate hike soon, says wage momentum key

TOKYO -The Bank of Japan kept interest rates steady on Thursday, with its governor sending the strongest signal yet that a rate hike was possible as soon as December depending on the outlook for...

Fed lowers rates, but Powell suggests move may be the last of 2025

WASHINGTON -A policy divide within the U.S. central bank and a lack of federal government data may put another interest rate cut out of reach this year, Federal Reserve Chair Jerome Powell said on...

US pending home sales flat in September; job market worries likely dissuading buyers

WASHINGTON -Contracts to purchase previously owned U.S. homes were unexpectedly unchanged in September, likely as worries about the labor market and economic uncertainty kept prospective buyers on...