Inflation
Fed’s Mester backs 75 basis point hike in July if conditions remain the same
Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the U.S. economy in New York November 18, 2015. Lucas Jackson | Reuters Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday that if economic conditions remain the same when the U.S. central bank meets to decide […]
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Australia’s retail sales beat forecasts again in May
Shoppers around Pitt Street Mall on June 7, 2022, in Sydney, Australia. Australian retail sales again beat expectations in May as consumers spent more on eating out and in department stores, suggesting demand is proving resilient in the face of surging inflation and rising interest rates. Brendon Thorne | Getty Images News | Getty Images […]
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New York Fed President John Williams says a U.S. recession is not his base case
New York Federal Reserve President John Williams said Tuesday he expects the U.S. economy to avoid recession even as he sees the need for significantly higher interest rates to control inflation. “A recession is not my base case right now,” Williams told CNBC’s Steve Liesman during a live “Squawk Box” interview. “I think the economy […]
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Turkish lira whipsaws following new loan ban that’s set to affect thousands of companies
A money changer holds Turkish lira and U.S. dollar banknotes at a currency exchange office in Ankara, Turkey December 16, 2021. Cagla Gurdogan | Reuters Turkey’s currency, the lira, enjoyed a much-welcomed boost on Monday and the preceding Friday after the country’s banking regulator announced a ban on lira loans to companies holding what it […]
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‘Apathetic’ investors will embrace banks: RBC top analyst predicts comeback in year’s second half
Investors who are “apathetic” or negative toward banks will change their stance in the year’s second half, according to RBC Capital Markets’ top banking analyst. Gerard Cassidy predicts bullishness will make a comeback due to strong revenue growth and optimism surrounding credit. “You can really see people coming back to [bank] the stocks. They’re under-owned,” […]
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Banking body BIS urges decisive wave of global rate hikes to stem inflation
The world’s central bank umbrella body, the Bank for International Settlements (BIS), has called for interest rates to be raised “quickly and decisively” to prevent the surge in inflation turning into something even more problematic. The Swiss-based BIS has held its annual meeting in recent days, where top central bankers met to discuss their current […]
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With or without a federal gas tax holiday, here are 4 ways to save money at the pump
The recent run-up in gasoline prices is now being felt nearly across the board. The national average for a gallon of gas is currently $4.94 after topping $5 per gallon for the first time ever earlier this month, according to AAA. Last year at this time, the price was $3.07 per gallon. The increase has put a severe […]
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Suze Orman has a warning for those who want to quit in the Great Resignation
44% of workers are worried about a layoff, job loss Despite the collective optimism around the current job market, 44% of workers are worried about a layoff or job loss, CNBC’s All-America Workforce Survey found. Some 84% are concerned about a recession. Economists are starting to raise their recession probability outlooks. On Monday, Goldman Sachs […]
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Norway announces 50 basis point hike to interest rates, largest for 20 years
Norway’s central bank, also known as Norges Bank, in Oslo, Norway. Kristian Helgesen/Bloomberg | Bloomberg | Getty Images Norway’s central bank announced a 50-basis-point hike to its benchmark interest rate on Thursday, the country’s largest single increase since 2002. The move takes the policy rate from 0.75% to 1.25%, and Norges Bank Governor Ida Wolden […]
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Bangladesh is trying to secure wheat from Russia as India stops exports: Reuters, citing sources
A woman makes bundle of wheat in Bangladesh. Bangladesh is trying to secure wheat supplies from Russia in a government-to-government deal after it’s biggest supplier India banned exports of the grain last month to contain local prices, government and trade officials told Reuters on Wednesday. Majority World | Universal Images Group | Getty Images Bangladesh […]
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