Economics News Results

  • China's growth could slip below 6%, analysts warn, as trade war takes toll

    China's economic growth risks slipping below the lower-end of Beijing 2019 target of 6% in the third quarter or over the next year, analysts warn, but government economists are slightly more optimistic as they expect stimulus to help stave off a sharper slowdown.

  • SNB cuts banks a break on sight deposits by lifting threshold

    The Swiss National Bank eased the burden on banks on Thursday by raising the exemption threshold for negative interest rates on sight deposits to 25 times minimum reserves from Nov.1, versus the previous threshold of 20 times. Banks must pay negative interest on the portion of their sight deposits that exceeds the exemption threshold.

  • Swiss National Bank helps banks brace for long-term negative rates

    * SNB leaves rates unchanged as expected in poll. * Central bank gives banks relief on negative rates. * SNB cuts GDP growth, inflation forecasts. By John Revill. The Swiss National Bank expects to stick to its ultra-loose monetary stance for the long haul after it kept its policy on hold on Thursday and handed banks hit by its negative interest rates extra breathing space.

  • Sterling steady before retail sales and BoE meeting

    * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh. * Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv. The British pound steadied on Thursday as traders waited for retail sales numbers and the Bank of England monetary policy meeting due later.

  • Swiss National Bank statement

    The Swiss National Bank made the following statement after its policy review on Thursday: The Swiss National Bank is keeping the SNB policy rate and interest on sight deposits at the SNB at −0.75%. It remains willing to intervene in the foreign exchange market as necessary, while taking the overall currency situation into consideration.

  • FOREX-Fed's cautious cut supports dollar, Aussie whipped by jobs data

    * Fed Chairman Powell sounds positive on U.S. economy. * Dollar holds overnight gains. * Safety buying, BoJ steadiness lifts yen. * Aussie sold after soft data spurs easing expectations. By Tom Westbrook.

  • Brazil central bank cuts key rate to record low 5.50% as expected

    The Brazilian central bank cut its benchmark interest rate by 50 basis points to a new record low of 5.50% as expected on Wednesday, its latest attempt to inject life into a sluggish economy and steer inflation back up towards target.

  • Fed cuts interest rates, signals holding pattern for now

    * Divisions highlighted in 7-3 vote on policy decision. * Trump blasts Fed chief as 'terrible communicator' By Howard Schneider and Ann Saphir. The U.S. Federal Reserve cut interest rates again on Wednesday to help sustain a record-long economic expansion but signaled a higher bar to further reductions in borrowing costs, eliciting a fast and sharp rebuke from President Donald Trump.

  • UAE central bank cuts rates by 25 basis points

    The United Arab Emirates central bank said on Wednesday that it was cutting interest rates applied on the issuance of certificates of deposits by 25 basis points, effective Sept. 19. The central bank also said the repo rate for borrowing short-term liquidity had been cut by 25 bps. Earlier, the U.S. Federal Reserve cut rates by a quarter of a percentage point.

  • Kuwait oil sector heightens security after Saudi Aramco attacks

    Kuwait's oil sector is on high alert and has raised its security to the highest level as a precautionary measure in the wake of the weekend attack on Saudi Arabia's oil facilities, a Kuwaiti oil official said on Wednesday. The oil-rich Gulf state has said it stands behind Saudi Arabia, condemning attacks last Saturday that struck the world's biggest crude oil processing facility.

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