News
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Fed's Powell says upside risks to inflation have faded a bit
Sept 17 (Reuters) - Federal Reserve Chair Jerome Powell said on Wednesday that some of the more dire inflationary scenarios facing the economy have faded."Really, since April, to me, the risks of higher and more persistent inflation have probably become a little less, and that's partly becau...Reuters
Wed, Sep 17
TREASURIES-US yields ease after Fed rate cut
Fed cuts rates by 25 basis points, signals further cutsExpectations for October cut increaseHousing starts, building permits data softer than expectedBy Chuck Mikolajczak NEW YORK, Sept 17 (Reuters) - U.S. Treasury yields pared gains on Wednesday after the Federal Reserve cut rates by 25 basis po...Reuters
Wed, Sep 17
WRAPUP 3-US single-family housing starts near 2-1/2-year lows as inventory bloat weighs
Single-family housing starts drop 7.0% in AugustPermits for future single-family home building fall 2.2%Fed's rate cuts may not revive housing market amid job concernsBy Lucia Mutikani WASHINGTON, Sept 17 (Reuters) - U.S. single-family homebuilding plunged to a near 2-1/2-year low in August a...Reuters
Wed, Sep 17
Saudi Arabia's central bank cuts rates by 25 bps, central bank says
CAIRO, Sept 17 (Reuters) - Saudi Arabia's central bank cut its repurchase agreement (repo) rate by 25 basis points to 4.75% on Wednesday, according to a statement, and its reverse repo rate also by 25 bps to 4.25%.The move followed the Federal Reserve's decision to cut U.S. interest rates by...Reuters
Wed, Sep 17
U.S. central bankers split wide over rate-path view
By Ann SaphirWASHINGTON, Sept 17 (Reuters) - U.S. central bankers expect to cut short-term interest rates by another half of a percentage point this year after delivering a quarter-point cut on Wednesday, based on the median of fresh projections. But the Fed’s latest quarterly summary of economic pr...Reuters
Wed, Sep 17
CORRECTED-Canadian housing starts fall 16% in August -CMHC
TORONTO, Sept 16 (Reuters) - Canadian housing starts fell 16% in August compared with the previous month, a steeper decline than expected, data from the national housing agency showed on Tuesday.The seasonally adjusted annualized rate of housing starts was 245,791 units, down from a revised 293,537 ...Reuters
Wed, Sep 17
Trump attacks on Fed threaten US stability and prosperity, Bundesbank warns
Undermining Federal Reserve independence would have 'serious consequences'President Trump has been pushing Fed to cut interest ratesOther countries may be also tempted to meddle in their central banks FRANKFURT, Sept 17 (Reuters) - Curtailing the U.S. Federal Reserve's independence co...Reuters
Wed, Sep 17
US naval shipbuilders seek Supreme Court review in engineers' pay case
By Mike Scarcella WASHINGTON, Sept 17 (Reuters) - General Dynamics GD.N, Huntington Ingalls HII.N and other major U.S. shipbuilders have asked the U.S. Supreme Court to review a decision that they must face a lawsuit accusing them of conspiring to suppress pay for architects and engineers.In a pe...Reuters
Wed, Sep 17
Russian government explores way to make ends meet as budget deadline looms
Russia wants to balance the budget while maintaining reservesVAT hike is under discussion, no decision yetPutin pledged no major tax changes before 2030Earlier VAT hike spurred inflationBy Darya Korsunskaya MOSCOW, Sept 17 (Reuters) - The Russian government is considering raising the rate of valu...Reuters
Wed, Sep 17
Bank of Canada cuts rates to 2.5%, says ready to cut again if risks rise
Bank of Canada cuts its benchmark rate by 25 bps to 2.5%Rate cut was a unanimous decision of the Governing CouncilGovernor says another cut is possible if risks riseBy Promit Mukherjee and David Ljunggren OTTAWA, Sept 17 (Reuters) - The Bank of Canada reduced its key policy rate to a three-year l...Reuters
Wed, Sep 17
US crude inventories fall sharply as net imports hit record low, EIA says
By Liz Hampton, Georgina McCartney and Arathy SomasekharHOUSTON, Sept 17 (Reuters) - U.S. crude oil stockpiles fell sharply last week as net imports dropped to a record low amid a jump in exports to a near two-year high, the Energy Information Administration said on Wednesday.Gasoline inventories al...Reuters
Wed, Sep 17
Saudi Arabia expects inclusion in JPMorgan bond index to boost debt market inflows
DUBAI, Sept 17 (Reuters) - Saudi Arabia has been added to a JPMorgan bond index, the country's stock exchange said on Wednesday, in a move that is expected to attract around $5 billion in initial foreign inflows into the kingdom's sukuk and debt capital market.JPMorgan's JPM.N Government...Reuters
Wed, Sep 17
Ukraine, US launch fund for critical minerals projects with $150 million investment
Ukraine, US commit to joint investment fund for mineralsFund to focus on energy, infrastructure, minerals projectsDeal gives US preferential access to Ukrainian mineral projectsBy Yuliia DysaKYIV, Sept 17 (Reuters) - Ukraine and the U.S. International Development Finance Corporation will each commit...Reuters
Wed, Sep 17
Crude oil and gasoline inventories fell last week, distillate stocks rose, EIA says
HOUSTON, Sept 17 (Reuters) - Crude inventories fell by 9.3 million barrels to 415.4 million barrels last week, the EIA said, compared with analysts' expectations in a Reuters poll for a 857,000-barrel draw.Crude stocks at the Cushing, Oklahoma, delivery hub USOICC=ECI fell by 296,000 barrels in ...Reuters
Wed, Sep 17
TREASURIES-US yields little changed as Fed statement awaited
Fed under pressure from Trump administration to lower rates rapidlyMarket fully pricing in at least 25 bps rate cut, 6% chance of 50 bps cutHousing starts, building permits data softer than expectedBy Chuck Mikolajczak NEW YORK, Sept 17 (Reuters) - U.S. Treasury yields were little changed on Wedn...Reuters
Wed, Sep 17
US naval shipbuilders seek Supreme Court review in engineers' pay case
By Mike Scarcella WASHINGTON, Sept 17 (Reuters) - General Dynamics GD.N, Huntington Ingalls HII.N and other major U.S. shipbuilders have asked the U.S. Supreme Court to review a decision that they must face a lawsuit accusing them of conspiring to suppress pay for architects and engineers.In a pe...Reuters
Wed, Sep 17
General Mills keeps annual outlook as North America demand softens
By Anuja Bharat Mistry Sept 17 - General Mills GIS.N maintained its annual sales and profit forecasts on Wednesday, as the Cheerios maker grapples with rising economic uncertainty and softer demand in key markets, including North America.Rising consumer prices and a cooling U.S. labor market have...Reuters
Wed, Sep 17
Bank of America CEO tells Bloomberg TV he is not leaving in short term
NEW YORK, Sept 17 (Reuters) - Bank of America BAC.N CEO Brian Moynihan said on Wednesday he is not leaving the bank in the short term, but added the company has to line up candidates with experience to run the company in the future, according to an interview on Bloomberg TV."I'm not goin...Reuters
Wed, Sep 17
US single-family housing starts, building permits drop in August
WASHINGTON, Sept 17 (Reuters) - 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. Single-family housing starts, which account for the bulk of homebuilding, fell 7....Reuters
Wed, Sep 17
