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News
US shakes up currency markets with unusual yen-buying via selling euros
6+ hour, 21+ min ago (575+ words) LONDON, Aug 3 (Reuters) – Traders grappling with an already rare co-ordinated U.S.-Japanese action to prop up the weak yen are also digesting a further unusual dynamic: the U.S. selling euros. Japan confirmed on Monday it had carried out yen-buying intervention…...
Indonesia’s growth likely slowed in Q2 as consumption, exports weakened
12+ hour, 22+ min ago (442+ words) BENGALURU, Aug 3 (Reuters) – Indonesia’s economy likely lost some momentum in the second quarter as consumer demand slowed after the festive season and net exports provided less support, according to a Reuters poll of economists. Southeast Asia’s largest economy is expected…...
World Bank maintains 2026 Philippine growth forecast at 3.7%
11+ hour, 47+ min ago (258+ words) MANILA, Aug 3 (Reuters) – The World Bank on Monday maintained its 2026 growth forecast for the Philippines at 3.7% and said the economy’s recovery next year was likely to be slower than previously expected. • “Growth is set to decelerate in 2026 on the back…...
Swiss annual inflation ticks down to 0.4% in July
10+ hour, 52+ min ago (190+ words) ZURICH, Aug 3 (Reuters) – Swiss annual inflation eased by a tenth of a percentage point in July, in line with analysts’ expectations, as the overall cost of petroleum products came down compared to the previous month, official data showed on Monday....
US construction spending unexpectedly falls in June
4+ hour, 17+ min ago (292+ words) WASHINGTON, Aug 3 (Reuters) – U.S. construction spending unexpectedly fell in June as higher mortgage rates continued to weigh on homebuilding. The Commerce Department’s Census Bureau said on Monday that construction spending dipped 0.1%. Construction spending in May was revised to show it…...
BOJ says global AI demand could have sticky inflationary effect
10+ hour, 22+ min ago (418+ words) TOKYO, Aug 3 (Reuters) – Global AI-related demand may exert lasting upward pressure on Japan’s inflation, the Bank of Japan said on Monday, signalling its alarm over mounting inflation risks that could boost the case for a near-term interest rate hike. Artificial…...
South Korea proposes higher taxes on wealthy homeowners to stabilise property market
9+ hour, 41+ min ago (405+ words) SEOUL, Aug 3 (Reuters) – South Korea proposed on Monday property tax adjustments aimed at imposing higher duties on wealthy homeowners, as policymakers strive to stabilise a red-hot housing market. The announcement followed a closed-door meeting held by President Lee Jae Myung,…...
Wars, cyberattacks could challenge euro zone banks’ fx liquidity, ECB says
3+ day, 9+ hour ago (448+ words) FRANKFURT, July 31 (Reuters) – Wars, supply chain disruptions and cyberattacks are among the top risks facing euro zone banks and some could fall short of foreign currency liquidity requirements in case of acute stress, the European Central Bank said based on…...
Fed chief Warsh faces hard choice on inflation after bond market’s ‘red flag’
3+ day, 8+ hour ago (656+ words) Complicating matters was Warsh’s hint that he may try to switch up the Fed’s yardstick for successfully containing inflation, for years defined as a 2% year-over-year rise in the Personal Consumption Expenditures Price Index. “That’s our number, we’re sticking with it,…...
BOJ Governor Ueda’s comments at news conference
3+ day, 11+ hour ago (282+ words) WKZO BOJ Governor Ueda’s comments at news conference July 31 (Reuters) – The Bank of Japan kept interest rates steady on Friday but signaled its resolve to continue pushing up borrowing costs, in the wake of the government’s yen-buying intervention overnight that…...