Currencies

Fed's Powell explains how central bank moderate rates mandate works

Federal Reserve Chair Jerome Powell on Wednesday explained why the three missions Congress imposed on the central bank add up to two in real-world conditions. Powell, speaking at a...

Fed lowers interest rates, signals more cuts ahead; Miran dissents

The Federal Reserve, goaded by the risk of rising unemployment, reduced interest rates on Wednesday for the first time since December and indicated more cuts would follow to halt any slide in a labor...

US single-family housing starts near 2-1/2-year lows as inventory bloat weighs

U.S. single-family homebuilding plunged to a near 2-1/2-year low in August amid a glut of unsold new houses, suggesting the housing market could remain an economic headwind this quarter.   ...

Bank of Canada cuts benchmark interest rate by 25 basis points

TORONTO -The Bank of Canada on Wednesday lowered its benchmark interest rate by 25 basis points to 2.5%, its first cut in six months. MARKET REACTION: [CAD/] LINK:  ...

Bank of Canada cuts rates to 2.5%, says ready to cut again if risks rise

The Bank of Canada reduced its key policy rate to a three-year low of 2.5% on Wednesday, the first cut in six months, and said it would be ready to cut again if risks to the economy increased in...

FULL TEXT- Bank of Canada cuts rates to 2.50%

The Bank of Canada released the following statement on Wednesday: The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at...

FULL TEXT-Bank of Canada head says rate cut designed to help balance risks to economy

The Bank of Canada released the following statement by Governor Tiff Macklem on Wednesday: Good morning. I'm pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss...

US single-family housing starts, building permits drop in August

WASHINGTON -U.S. single-family homebuilding and permits for future construction dropped in August amid a glut of unsold new houses and a softening labor market, shrugging off falling mortgage rates....

EU Commission proposes suspending free-trade arrangements on Israeli goods

The European Commission on Wednesday proposed suspending a trade arrangement affecting about 5.8 billion euros of Israeli exports due to the Gaza war, although the measure does not currently have...

US 30-year mortgage rate drops, refinances jump, MBA data shows

The interest rate on the most popular U.S. home loan dropped last week to its lowest in a year, sending homeowners racing to lock in cheaper borrowing costs as slowing jobs growth and expectations...

Bank of Canada cuts rates to three-year low, cites risks to economy

The Bank of Canada reduced its key policy rate to a three-year low of 2.5% on Wednesday, the first cut in six months, citing a weak jobs market and less concern about underlying pressures on...

PIMCO recommends Fed halt mortgage unwind to boost housing market

U.S. bond firm PIMCO said on Tuesday the Federal Reserve should consider a halt to the shrinking of its mortgage holdings in order to boost the U.S. housing market. Since 2022 when it...

US import prices increase in August on capital, consumer goods

WASHINGTON -U.S. import prices unexpectedly rose in August, boosted by strong increases in the costs of capital and consumer goods, suggesting domestic inflation was poised to accelerate in the...

US housing market to remain stuck in a rut as high rates choke demand

BENGALURU -The United States' sluggish housing market will remain weak through next year as high mortgage rates stifle demand with only a modest rebound expected in 2027, a Reuters survey of...

US retail sales increase strongly; softening labor market a headwind

U.S. retail sales increased more than expected in August as consumers bought a range of goods and dined out, but a weakening labor market and rising prices because of tariffs pose a downside risk to...

Canada's annual inflation rises less than expected in August

Canada's annual inflation rate rose 1.9% in August as gasoline prices on a yearly basis fell at a slower pace than in the previous month and food prices were up slightly, data showed on Tuesday. ...

Trading Day: Tech momentum accelerates as Fed looms

ORLANDO, Florida -TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist  U.S. and world stocks roared to new...

US banks borrow $1.5 billion from Fed's repo facility in sign of mild funding pressure

U.S. banks borrowed $1.5 billion from the Federal Reserve's Standing Repo Facility on Monday, the deadline for quarterly corporate tax payments and Treasury debt settlements, Fed data showed,...

Natura to sell Avon CARD, exploring options for Avon International

SAO PAULO -Brazil's cosmetic marker Natura has entered into a binding agreement to sell Avon CARD, the company said in a securities filing on Monday, adding it continues to explore strategic...