ECONOMY & MARKETS

Wholesale gasoline prices are expected to keep falling in coming months as U.S.

Australia's top central banker opened the door on Thursday to slowing the bank's policy tightening after five rate increases in as many months, sparking a rally in bonds as markets scaled back bets on further aggressive moves.

Bearish bets on several Asian currencies hit a record high, driven by a slump in the Chinese yuan and a towering dollar as investors brace for more Federal Reserve rate hikes, a Reuters Poll found.

The dollar resumed its rise in Asia on Thursday after falling back from a two-decade high overnight, as investors pondered the path of global monetary policy ahead of a European Central Bank rate decision and comments from Federal Reserve Chair Jerome Powell later in the day.

Japan's economy grew more than initially reported in the second quarter, as the lifting of local COVID-19 restrictions boosted consumer and business spending.

With rising inflation rates, many choose to move to cheaper U.S. cities. Here are some places to consider for their lowest cost of living.

The European Central Bank will raise interest rates again on Thursday to fight runaway inflation and, with a big move and a record one under consideration, the only question is by how much.

The U.S. Federal Reserve will maintain tight monetary policy "for as long as it takes to get inflation down" Fed Vice Chair Lael Brainard said Wednesday in the central bank's latest affirmation that fighting price pressures is its chief priority.

In a country where the Big Six banks control 80% mortgage market share, Canada's smaller lenders are making some rare headway after the Bank of Canada's sudden and sharp interest rate increases this year raised the bar to qualify for home loans.

Poland's central bank raised its main interest by 25 basis points in September, the lowest rise in the current rate hike cycle so far, as it expects lower growth and continued inflationary pressure, it said on Wednesday.

A deal to cap dividends at Nornickel, the world's top palladium and refined nickel producer, will lapse at the end of this year as its co-owners avoid renewing a row which could anger the Kremlin, three sources familiar with the matter told Reuters.

European countries have increased gas inventories by a record volume this year, but they will still need to reduce consumption sharply this winter to protect themselves from a possible disruption in supplies from Russia.

The trial in Ambac Financial Group Inc's $2.7 billion case against Bank of America is expected to begin in New York state court on Wednesday, 12 years after the bond insurer sued over troubled mortgage-backed securities issued before the 2008 financial crisis.Starting in 2004, Ambac insured securities backed by 375,000 home loans from the bank's Countrywide unit.

The U.S. Federal Reserve's new regulatory chief Michael Barr will on Wednesday outline his plan for overseeing Wall Street banks and reviewing regulations, in his first public remarks since joining the central bank in July.

The Biden administration's recently enacted spending plans for green energy, technology and infrastructure will shift investment more broadly across the United States, not just to prosperous coastal cities, Treasury Secretary Janet Yellen plans to argue on Thursday.

European shares fell on Wednesday, with miners leading losses, as investors fretted over global demand outlook for metals following lacklustre trade data from China, while Ubisoft slid as a deal with Tencent dampened its buyout prospects.

President Vladimir Putin said on Wednesday that Russia had not lost anything in a global confrontation with the United States over the conflict in Ukraine but had actually gained by setting a new sovereign course that would restore its global clout.

Even though fears of another "sterling crisis" have been wide of the mark for decades, they are harder to bat away this time around as a fourth British prime minister in six years takes the helm.

Japan need not intervene in the exchange-rate market to stem yen falls, as such a move would be ineffective in countering broad dollar gains, former top currency diplomat Hiroshi Watanabe told Reuters on Wednesday.

Thailand's central bank will raise interest rates gradually to curb inflation and ensure a smooth recovery as the economy is expected to return to pre-pandemic levels late this year or early next year, its governor said on Wednesday.

The Bank of Canada is widely expected to announce another supersized interest rate increase on Wednesday as it battles to curb inflation at a near-four-decade high, with all eyes on the statement for any change to its aggressive stance.

The Bank of Japan (BOJ) will likely maintain its massive stimulus even as inflation is seen reaching 3% in coming months, to ensure domestic demand strengthens enough to offset a hit from slowing global growth, former BOJ board member Goushi Kataoka told Reuters.

India's battered rupee will trade not far from its lifetime low against the U.S.

Asian stocks fell on Wednesday as investors failed to find any cheer in strong U.S.

For different reasons, China, the world's second-largest economy, and the eurozone, the world's second-largest economy, aren't doing well these days.

The dollar hit a 24-year peak against the yen and reached new highs versus the Australian and New Zealand dollars on Wednesday after U.S.

Oil prices fell on Wednesday as COVID-19 curbs in top crude importer China and expectations of further interest rate hikes fanned concerns of a global economic recession and lower fuel demand growth.

U.S. consumers and businesses are still in good financial shape despite high inflation and concerns about a looming recession, some of the nation's top bankers told a conference in New York on Tuesday.

The U.S. Treasury is seeking to design a simple compliance regime for enforcing a price cap on Russian oil exports and hopes that China and India join the coalition or at least take advantage of it, Deputy Treasury Secretary Wally Adeyemo said on Tuesday.