monetary-policy
BankingBank of England’s Tenreyro Sees Rates on Hold, Then Falling in 2024
Top StoriesRepublican ‘red Wave’ Fizzles, but Midterm Race for U.S. Congress Tight
TradingSterling Softens Versus Dollar Against a Quiet UK Backdrop
InvestingEuro Zone Bond Yields Fall Ahead of US Inflation, Midterm Results
BoE’s Pill Sees No Victory Over Inflation yet but Recession Coming
Date: November 8, 2022
LONDON (Reuters) -The Bank of England (BoE) cannot consider the threats posed by inflation to be under control and interest rates will need to rise further but the economy is going into a recession, complicating the outlook, its chief economist said. “I think we cannot declare victory against second-round effects, but we are entering a...
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...
Weaker Franc Helps Swiss National Bank’s Forex Reserves Rise
Date: November 7, 2022
ZURICH(Reuters) – The Swiss National Bank’s foreign exchange reserves rose in October, central bank data showed on Monday, as the Swiss franc’s depreciation helped reverse a sharp drop in September. The SNB held 817.16 billion Swiss francs ($821.27 billion) in foreign currencies at the end of October, compared with 806.11 billion francs in September, revised...
Analysis-Runaway Prices Have Central Europe on the Ropes
Date: November 7, 2022
By Gergely Szakacs and Anna Wlodarczak-Semczuk BUDAPEST/WARSAW (Reuters) – While inflation in western Europe is largely expected to be tamed within a year, there is a growing sense that in central Europe runaway prices will be around for much longer. Central and eastern Europe have for months been at the forefront of the inflation battle,...
Analysis-Bank of England’s Recession Warning Turns Spotlight to UK Budget Plan
Date: November 4, 2022
By William Schomberg LONDON (Reuters) – The risk of a two-year recession in Britain, flagged this week by the Bank of England, underscores the high stakes for Prime Minister Rishi Sunak and his finance minister Jeremy Hunt as they prepare to announce major tax increases and spending cuts. The BoE said on Thursday that Britain’s...
Euro Zone Downturn Deepens, Points to Winter Recession
Date: November 4, 2022
By Jonathan Cable LONDON (Reuters) – The downturn in the euro zone economy has deepened as high inflation and fears of an intensifying energy crisis hit demand, adding to evidence the bloc is heading for a winter recession. A closely-watched survey showed euro zone October business activity contracted at the fastest pace since late 2020....