The Bank of Canada on Thursday said the country's financial system faced an increased risk from highly indebted households, notably the rising number of people who have stretched to buy homes at elevated prices and are now vulnerable to rate hikes.
Hot inflation is the Bank of Canada's primary focus as it raises interest rates, a senior central bank official told Reuters on Thursday, making it clear that the bank was willing to accept a housing market correction in order to curb consumer price gains.
By David LjunggrenOTTAWA - Some Canadians who took out mortgages in 2020-21 could see their monthly payments jump by as much as 45% in 2025-26, given rising rates, according to a Bank of Canada scenario released on Thursday.
The number of Americans filing new claims for unemployment benefits increased to the highest level in nearly five months last week, but that likely does not mark a material shift in labor market conditions, which remain extremely tight.
The EMEA Credit Derivatives Determinations Committee said on Thursday it was deferring a decision over how to hold a potential auction on Russian credit default swaps (CDS) following an update on U.S.
Wall Street's main indexes slipped in choppy trading on Thursday as technology and growth stocks struggled for direction amid rising bond yields and weaker risk appetite on concerns around surging inflation and aggressive interest rate hikes.
U.S. stock indexes were set to open lower on Thursday as rising bond yields pressured technology and growth stocks, while concerns around surging inflation and the path for interest rate hikes sapped risk appetite.
Wall Street's main indexes fell in choppy trading on Thursday, as growth and bank stocks slipped amid weaker risk appetite ahead of a closely watched inflation report this week.
U.S. stocks ended sharply lower on Thursday in a broad decline led by Nasdaq as investors grew cautious ahead of data on Friday that is expected to show consumer prices remained high in May.
Argentina's benchmark interest rate is likely to be hiked another 200 basis points next week, analysts polled by Reuters estimated, as the central bank seeks to counter soaring and painful inflation that could top 70% this year.
The Spanish government will firmly defend its national interests in the wake of Algeria's decision to suspend a 20-year-old treaty of friendship and cooperation and ban all non-gas trade with Spain, a move that also alarmed Brussels.
Shares of Australia's "Big Four" banks fell further on Thursday to hit multi-month lows, as the central bank's largest interest rate hike in 22 years earlier this week sparked fears of a sell-off in the housing market.
Asian stocks fell, U.S. bond yields edged up and a surging dollar pushed to a two-decade high against the yen on Thursday as investors worried about the impact of rate rises ahead of a European Central Bank meeting later in the day.
U.S. and European shares slid and euro zone borrowing costs hit an eight-year high on Thursday after the European Central Bank signaled it will hike interest rates next month for the first time since 2011, a move some said was too slow.
The yen's recent "significant" depreciation reflects fundamentals, such as market expectations of differing monetary policy paths between Japan and the United States, a senior International Monetary Fund (IMF) official said on Thursday.
The European Central Bank will pull the plug on years of stimulus on Thursday and signal a string of rate hikes to fight surging inflation, leaving markets only to guess the size and speed of policy tightening.
The European Central Bank will pull the plug on years of stimulus on Thursday and signal a string of rate hikes to fight surging inflation, leaving markets only to guess the size and speed of policy tightening.
The European Central Bank ended a long-running stimulus scheme on Thursday and signalled a series of rate hikes that may be scaled up from September if the inflation outlook fails to improve.
The European Central Bank ended a long-running stimulus scheme on Thursday and signalled it will deliver its first interest rate hike since 2011 next month followed by a potentially larger move in September if inflation does not cool down.
The European Central Bank ended a long-running stimulus scheme on Thursday and said it would deliver next month its first interest rate hike since 2011, followed by a potentially larger move in September.
Italian producer Eni has been picked, along with another four oil majors, by Qatar as partners in the near $30 billion expansion of the world's largest liquefied natural gas (LNG) project, people with knowledge of the matter said on Wednesday.
U.S. inflation could remain above the Federal Reserve's targets for a long time based on current projections, and there is a risk of inflation expectations "de-anchoring," International Monetary Fund First Deputy Managing Director Gita Gopinath said on Wednesday.
EU industry chief Thierry Breton on Wednesday told Hungary to suspend discriminatory fuel pricing against vehicles with foreign licence plates or risk being taken to court, according to a European Commission letter seen by Reuters.
Canada on Wednesday launched a credit system for greenhouse gas reductions, a major part of its plan to cut carbon emissions, starting with a set of rules stipulating how projects can generate tradeable credits by capturing gas from landfills.
Canada on Wednesday launched a credit system for greenhouse gas offsets, a major part of its plan to cut carbon emissions, starting with a set of rules stipulating how projects can generate tradeable credits by capturing gas from landfills.
Euro zone interest rates rising to at least 0% by September seems like a done deal as inflation soars, but how high rates should go thereafter is dividing policymakers and economists in a bloc of 19 vastly different economies.
The Dow and the S&P 500 index slipped in choppy trading on Wednesday, pulled lower by shares of Intel after a bearish brokerage report, while the Nasdaq was propped up by gains in Tesla and Apple.
U.S. stock indexes fell on Wednesday as Amazon.com declined and chipmakers came under pressure after a bearish brokerage report on Intel, while higher oil prices deepened worries about global inflation.
U.S. stocks fell on Wednesday as Treasury yields rose above the psychologically important 3% level and oil prices jumped, fanning worries about inflation and the outlook for interest rates.
U.S. stocks ended lower on Wednesday as Treasury yields rose above the psychologically important level of 3% and oil prices jumped, fanning worries about inflation and the outlook for interest rates.
