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Bailey speech: Trade tariff impact on inflation is more ambiguous than impact on economic growth
While testifying before the Lords Economic Affairs Committee on Tuesday, Bank of England (BoE) Governor Andrew Bailey said the impact of trade tariffs on inflation is more ambiguous than the impact on economic growth, per Reuters.Fxstreet
Tue, Jun 24
Trump to US lawmakers: get budget deal done this week
WASHINGTON, June 24 (Reuters) - U.S. President Donald Trump piled more pressure on his fellow Republicans in the U.S. Senate on Tuesday, asking them to get sweeping spending and tax legislation done this week. "To my friends in the Senate, lock yourself in a room if you must, don't go h...Reuters
Tue, Jun 24
German cabinet passes 2025 draft budget with leap in defence spending
Germany plans record investments to stimulate economic growthDefence spending to rise to 3.5% of GDP by 2029Total borrowing of 847 bln euros over five years By Maria Martinez BERLIN, June 24 (Reuters) - Germany's cabinet approved on Tuesday a draft budget for 2025 and a budget framework for 2...Reuters
Tue, Jun 24
Canada's annual inflation unchanged at 1.7% in May, core measures slightly ease
Lower gasoline prices on annual basis aided CPI dataMortgage costs, rents also cooled from previous monthCore measures CPI-median, CPI-trim eased to 3%Inflation in May on a monthly basis was at 0.6%By Promit Mukherjee OTTAWA, June 24 (Reuters) - Canada's annual inflation rate in May was uncha...Reuters
Tue, Jun 24
US current account surges to record high in first quarter
WASHINGTON, June 24 (Reuters) - The U.S. current account deficit widened to a record high in the first quarter as businesses front-loaded imports to avoid President Donald Trump's hefty tariffs on imported goods.The Commerce Department's Bureau of Economic Analysis said on Tuesday the curren...Reuters
Tue, Jun 24
INSTANT VIEW-Canada's annual inflation rate at 1.7% in May, unchanged from April
TORONTO, June 24 (Reuters) - Canada's annual inflation rate in May was unchanged from the previous month at 1.7% as a drop in gasoline costs continued to keep the overall index stable while prices of shelter, food and transportation also cooled, data showed on Tuesday. Market reaction: CA...Reuters
Tue, Jun 24
Powell repeats rate cuts can wait as Fed studies tariff impacts
Powell says tariffs will raise inflationFed in good position to wait before cutting ratesEconomy remains solidBy Howard Schneider WASHINGTON, June 24 (Reuters) - U.S. Federal Reserve Chair Jerome Powell said on Tuesday the central bank needs more time to see if rising tariffs drive inflation high...Reuters
Tue, Jun 24
