An index measuring prices Japanese firms charge each other for services rose in April at the fastest annual pace in more than two years, data showed on Thursday, a sign that inflationary pressure is building broadly across the economy.
South Korea's central bank raised its policy rate on Thursday in a second consecutive meeting, as largely expected, to wrestle consumer inflation down from 13-year highs. The Bank of Korea's Monetary Policy Board voted to raise the benchmark interest rate by a quarter of a percentage point to 1.75%, an outcome all but one of the 28 analysts polled by Reuters foresaw.
Rampant rises in Australian house prices will grind almost to a halt this year, and an 8% decline is expected in 2023 as a cost-of-living crisis worsens and mortgage rates rise, a Reuters poll of property market analysts found.
Benchmark U.S. Treasury yields
were little changed on Wednesday after minutes from the Federal
Reserve showed policymakers agreed to hike interest rates by a
half-percentage point to combat inflation ...
All participants at the Federal Reserve's May 3-4 policy meeting backed a half-percentage-point rate increase to combat inflation they agreed had become a key threat to the economy's performance and was at risk of racing higher without central bank action, newly released minutes of the session showed.
New orders for U.S.-made capital goods increased less than expected in April, suggesting businesses could be slowing their pace of spending on equipment as they confront growing headwinds from rising interest rates and tightening financial conditions.
The U.S. budget deficit will shrink dramatically to $1.036 trillion for fiscal 2022 from $2.775 trillion last year as a strong recovery prompts a surge in revenues and lower outlays, but slowing growth will start to reverse the trend, the Congressional Budget Office said on Wednesday.
* Major U.S. stock indexes whipsaw following Fed minutes release. * Nordstrom (JWN) climbs after raising profit outlook. * Indexes up: Dow 0.18%, S&P 0.61%, Nasdaq 1.11% By Stephen Culp.
The U.S. budget deficit will shrink dramatically to $1.036 trillion for fiscal 2022 from $2.775 trillion last year as a strong recovery prompts a surge in revenues and lower outlays, but slowing growth will start to reverse the trend, the Congressional Budget Office said on Wednesday.
The U.S. budget deficit for fiscal 2022 will shrink to $1.036 trillion from $2.775 trillion in fiscal 2021 as a strong economic recovery from the COVID-19 pandemic produces a surge of tax receipts, the Congressional Budget Office said on Wednesday.
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