ECON

Fed to stick to 75 bps hike in July; 40% chance of recession

The Federal Reserve building in Washington September 1, 2015. REUTERS/Kevin Lamarque/File Photo Register now for FREE unlimited access to Reuters.com register BENGALURU, July 21 (Reuters) – The US Federal Reserve will opt for another 75 basis point rate hike rather than a larger move at its meeting next week to quell stubbornly-high inflation as the …

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US existing home sales slide again; prices hit fresh record high

NEW YORK, July 20 (Reuters) – US existing home sales fell for a fifth straight month in June to the lowest level in two years, as fast-rising interest rates and record-high selling prices make buying a home too expensive for a growing share of American households. Mortgage interest rates have soared as a result of …

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ECB weighs bigger rate hike with safety net for indebted countries

ECB to up rates by 25 or 50 bps in 1st hike since 2011 New bond-buying tool subject to Commission’s rules FRANKFURT, July 19 (Reuters) – European Central Bank policymakers are considering raising interest rates by a bigger-than-expected 50 basis points at their meeting on Thursday to tame record-high inflation, two sources with direct knowledge …

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Oil prices fall after US data shows lackluster gasoline demand

Crude oil storage tanks are seen at the Kinder Morgan terminal in Sherwood Park, near Edmonton, Alberta, Canada November 14, 2016. REUTERS/Chris Helgren Register now for FREE unlimited access to Reuters.com register US crude stocks dip, gasoline inventories up – EIA EIA data shows lackluster gasoline demand – analysts Central bank efforts to limit inflation …

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Big US banks see loan growth slowing as outlook for demand, economy darkens

NEW YORK, July 18 (Reuters) – US bank executives said they’re optimistic on loan growth as demand for borrowing from retail and business customers bounced back in the second quarter from the lows of the pandemic, but warned demand could weaken later this year if the worsening economic outlook starts to hurt consumer confidence. Analysts …

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US home builder sentiment plunges, services activity in New York region stalls

July 18 (Reuters) – US home builder sentiment plummeted in July to its lowest level since the early months of the coronavirus pandemic, as high inflation and the steepest borrowing costs in more than a decade brought customer traffic to a near standstill. At the same time, a gauge of activity in the services sector …

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China steps up loan-support efforts to developers amid mortgage boycott

A woman walks near a construction site of apartment buildings in Beijing, China, July 15, 2022. REUTERS/Thomas Peter Register now for FREE unlimited access to Reuters.com register SHANGHAI/BEIJING, July 18 (Reuters) – Chinese regulators stepped up efforts to encourage lenders to extend loans to qualified real estate projects as the beleaguered property sector faced fresh …

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Bank of Canada chief: inflation likely to tip 8% as soon as next week

Bank of Canada Governor Tiff Macklem takes part in a news conference in Ottawa, Ontario, Canada April 13, 2022. REUTERS/Blair Gable Register now for FREE unlimited access to Reuters.com register OTTAWA, July 16 (Reuters) – The Bank of Canada expects inflation to go “a little over” 8%, as soon as next week when June’s data …

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Europe car sales lowest since 1996 after 12-month decline

Vauxhall cars are transported on a lorry in Luton, Britain March 6, 2017. REUTERS/Neil Hall Register now for FREE unlimited access to Reuters.com register BERLIN, July 15 (Reuters) – Europe registered the lowest number of new passenger cars in the month of June this year since 1996 at just over 1.06 million vehicles, with some …

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The big default? The dozen countries in the danger zone

LONDON, July 15 (Reuters) – Traditional debt crisis signs of crashing currencies, 1,000 basis point bond spreads and burned FX reserves point to a record number of developing nations now in trouble. Lebanon, Sri Lanka, Russia, Suriname and Zambia are already in default, Belarus is on the brink and at least another dozen are in …

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