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BankingECB Policymakers Caution Against Tightening Policy Too Fast
TradingSterling Falters as Market Awaits Fiscal Plan in Data-Heavy Week
Top StoriesEuro Zone Sept Industrial Output Much Stronger Than Expected
Top StoriesGermany’s 2023 New Debt Estimate Soars as Energy Crisis Weighs
UK Economy Shrinks at Start of Feared Long Recession
Date: November 11, 2022
By William Schomberg and David Milliken LONDON (Reuters) -Britain’s economy shrank in the three months to September at the start of what is likely to be a lengthy recession, underscoring the challenge for finance minister Jeremy Hunt as he prepares to raise taxes and cut spending next week. Economic output shrank by 0.2% in the...
Germany to Take on 45.6 Billion Euros in New Debt in 2023
Date: November 11, 2022
BERLIN (Reuters) – Germany will comply with its constitutional debt brake next year for the first time since 2019, even as it takes on significantly more new debt than laid out in its summer draft, several Bundestag budget committee sources told Reuters on Friday. The budget foresees 45.61 billion euros ($46.62 billion) in new debt...
China Covid Cases Rise, With City of Guangzhou on Edge
Date: November 10, 2022
BEIJING (Reuters) -China’s COVID outbreak continued to widen on Thursday, with new case numbers at their highest since April and authorities in the hard-hit southern metropolis of Guangzhou urging residents to work from home but stopping short of a city-wide lockdown. Rebounding COVID infections and China’s aggressive response to them are causing disruption for residents...
Sterling Softens Versus Dollar Against a Quiet UK Backdrop
Date: November 9, 2022
LONDON – Sterling softened against the dollar on Wednesday after three days of gains, ahead of major U.S. inflation data on Thursday and the UK government’s next fiscal statement due next week. At 1124 GMT, the pound was down 0.71% against the dollar at $1.14650, having rallied 3.5% in the last three trading sessions. A...
Swedish Central Bank Calls on Banks to Restrict Dividends as Risks Rise
Date: November 9, 2022
STOCKHOLM (Reuters) – High inflation and the war in Ukraine have increased risks in Sweden’s financial system and banks should strengthen their resilience by clamping down on dividends, the central bank said in a regular report on financial stability on Wednesday. The central bank said the biggest risk to banks was their exposure to highly...
Polish Central Bank Seen Hiking Rates by 25 Bps Despite Slowdown Fears – Reuters Poll
Date: November 7, 2022
By Alan Charlish WARSAW (Reuters) – Poland’s central bank is expected to raise its main interest rate by 25 basis points to 7.00% on Wednesday, a Reuters poll showed, as analysts bet that forecasts of rising inflation will outweigh fears over slowing growth. The National bank of Poland (NBP) surprised markets in October by leaving...