The European Central Bank cut interest rates on Thursday and policymakers guided for a further reduction in March as concerns over lacklustre economic growth supersede worries about persistent inflation. It was the fifth ECB rate cut since June and markets expect two or three more this year, driven by arguments that the biggest inflation surge in generations is nearly defeated and the flagging economy needs relief. "We know the direction of travel," ECB President Christine Lagarde told a press conference after the decision. "At which pace, with what sequence, what magnitude, will be...
Tokyo's inflation accelerated in December 2024, with the headline consumer price index posting at 3.4% after a lower increase of 3.1% in the prior month, data released by Statistics of Japan on Friday showed. The reading, which includes all items, is the highest since April 2023. The core CPI, which doesn't count fresh food items, was up 2.5% over the same month in the previous year after a 2.4% gain in November 2024. Food prices, excluding perishables, climbed 4.7% in December, faster compared with the 4% rise a month before. Rent prices, on the other hand, have been growing steadily by...
US President Donald Trump has confirmed that he will impose 25% tariffs on imports from Canada and Mexico, effective February 1. It remains to be seen whether crude oil, a significant import from these countries, will be included in the tariffs. The tariffs are intended to address issues such as migration, fentanyl trafficking and trade imbalances. However, Nigel Green, CEO of deVere Group, a global financial advisory and asset management firm, warned that the move carries significant risks for investors worldwide. The US imports around 40% of its crude oil, mainly from Canada. If oil is...