ECONOMY & MARKETS

Pakistan's central bank raised its policy rate by 250 basis points to 12.25% in an emergency meeting on Thursday, the bank said in a statement, the biggest hike in years.

The Fed is behind in its fight against inflation and needs to raise the federal funds rate another 3 percentage points by year's end, St.

The premium for aluminium shipments to Japanese buyers for April to June was set at $172 a tonne, down 2.8% from the previous quarter, as weak demand in Japan and China outweighed concerns of supply disruptions from Russia, five sources said.

The number of Americans filing new claims for unemployment benefits fell last week, indicating a further tightening of labor market conditions heading into the second quarter, which could contribute to keeping inflation elevated.

The S&P 500 ended higher on Thursday, with Pfizer and Tesla fueling a late-session rally while investors eyed the war in Ukraine and a potentially more aggressive Federal Reserve.

Brazil's real will keep trading close to its pre-pandemic levels in coming weeks, still riding a wave of positive sentiment that is strikingly at odds with worsening economic conditions in the South American country, a Reuters poll showed.

A top U.S. labor official commended Mexico for progress in implementing a labor reform that is key to a new trade deal, but flagged a "tremendous" amount of work ahead and the need for financing and staffing to implement the law.

Greece's economy is seen expanding by 3.8% this year under a baseline scenario, a slower pace than a previous projection of 5.0%, the head of the central bank told its annual meeting of shareholders on Thursday.

Recession risks in the euro area are rising, with euro zone inflation seen running hot for the remainder of 2022 and the European Central Bank likely to increase its deposit rate by year-end, a Reuters poll showed.

Gold prices inched up on Thursday, as inflation worries intensified by the Ukraine war and mounting sanctions on Russia eclipsed pressure from the U.S.

Gold prices rose on Thursday, as inflation worries intensified by the Ukraine war and mounting sanctions on Russia eclipsed pressure from the U.S.

Gold prices gained on Thursday as inflation worries coupled with the Ukraine crisis bolstered the bullion's appeal as an inflation hedge, but the U.S.

Gold prices rose on Thursday as concerns over rising costs and the Ukraine crisis bolstered its appeal as an inflation hedge and a safe haven, but the U.S.

Gold inched lower in range-bound trade on Thursday, as the dollar and yields gained after the U.S.

Investors are gauging whether comparatively quick balance sheet reduction by the Federal Reserve could perk up the flattening Treasury yield curve, which has been flashing warnings of a potential recession.

The proportion of Japanese households expecting prices to rise a year from now has hit a 14-year high, a central bank survey showed on Thursday, as inflationary pressures from rising raw material costs grew.

More than half of the European population support legalization of adult use of cannabis and around 30% of them are interested in purchasing it, according to polling data by industry consultants on Thursday.

Asian shares retreated on Thursday in line with a global selloff, as markets were spooked by more aggressive noises from U.S.

Stock indexes declined and benchmark U.S. Treasury yields rose on Thursday as investors digested hawkish signals from the Federal Reserve, and the U.S. dollar index was flat.

Some Asian central banks are shaking off their long-held reluctance to follow their global peers in lifting benchmark interest rates off historic lows, as the Ukraine war blows consumer prices well out of policymakers' comfort zones.

Bank of Japan board member Asahi Noguchi said on Thursday the central bank must maintain ultra-easy monetary policy, even as rising commodity costs are expected to accelerate inflation toward its elusive 2% target.

The benefits of a weak yen outweigh the demerits for Japan's export-oriented economy, central bank policymaker Asahi Noguchi said on Thursday, brushing aside the view the currency's recent decline would hurt the economy by boosting import costs.

Oil prices rose on Thursday from a three-week low touched in the previous session after consuming nations announced a huge release of oil from emergency reserves, with worries over tight supply still clouding the market outlook.

Oil prices rose on Thursday from a three-week low touched in the previous session after consuming nations announced a huge release of oil from emergency reserves, with worries over tight supplies still clouding the market outlook.

Oil prices fell $2 after rising earlier in the session on Thursday amid uncertainty that the eurozone will be able to effectively sanction Russian energy exports, and after consuming nations announced a huge release of oil from emergency reserves.

Oil prices slid after rising earlier in the session on Thursday amid uncertainty that the euro zone will be able to effectively sanction Russian energy exports, and after consuming nations announced a huge release of oil from emergency reserves.

Oil settled lower on Thursday, adding to weekly losses on uncertainty that the euro zone will be able to effectively sanction Russian energy exports and after consuming nations announced a huge release of oil from emergency reserves.

The dollar hovered near a two-year high against a basket of majors on Thursday and pushed commodity currencies further down from recent peaks, after meeting minutes showed the Federal Reserve preparing to move aggressively to head off inflation.

The dollar slipped from a near two-year high on Thursday, as investors digested hawkish signals from the Federal Reserve and wondered whether expected tightening moves in the future have already been priced in.