Economy
Column-Japan’s helping hand with BoE June rate cut window: Mike Dolan
If worries about sterling were a factor preventing the Bank of England cutting interest rates too far ahead of the U.S. Federal Reserve, then Japan’s dollar-selling intervention may, weirdly, help keep its options open.
US futures slip, Rubrik, UBS buyback – what’s moving markets
Wall Street looks set to trade lower Tuesday as traders factor in the reduced likelihood of rate cuts in the first half of the year after strong economic data. Rubrik plans a IPO, while UBS announces a new share buyback program.
Canadian firms start to anticipate recovery, central bank survey finds
OTTAWA (Reuters) -Canadian firms have begun to expect improved conditions after almost two years of deterioration, the Bank of Canada (BoC) said on Monday, prompting traders to trim their bets on a rate cut in June.
Japan’s Nikkei posts biggest point gain for fiscal year
Japan’s Nikkei share average ended higher on Friday, driven by chip-related heavyweights, and posted a record fiscal-year gain in terms of points amid heavy foreign buying.
Hungary central bank says credible fiscal planning needed to cut risks
Hungary’s central bank warned on Thursday the 2024 budget gap could exceed the government’s recently raised target of 4.5% of gross domestic product, calling for credible fiscal planning to cut market risks for central Europe’s most indebted economy.
UK firm supports Ukrainian armed forces in drone tech race
In an anonymous warehouse in southern England, engineers at Evolve Dynamics are working on technology that could help keep Ukraine’s reconnaissance drones in the sky even after Russia tries to jam them electronically.
Bank of Canada likely to lead the U.S. Fed in rate cuts
The Bank of Canada (BoC) is likely to move ahead of the U.S. Federal Reserve on its first rate cut, as tepid economic growth and cooling inflation are priming up conditions to ease borrowing rates sooner, economists and analysts said.
Western banks warn of risks in EU plan to grab Russian assets, sources say
Some western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets, senior industry sources said, fearing it could lead to costly litigation.
Russia to hold rates at 16% with first cut expected in June – Reuters poll
Russia will hold interest rates at 16% on Friday, a Reuters poll showed on Monday, with many economists expecting the bank to start easing monetary policy in June as inflation is stubbornly high.
Toronto stocks fall on fading imminent rate-cut optimism
Canada’s main stock index fell on Friday hurt by losses in the technology sector that mirrored its U.S. counterparts, while the domestic housing data spurred worries that the Bank of Canada may not cut interest rates soon.