Federal Reserve Governor Christopher Waller said on Thursday he continues to believe the U.S. central bank should cut interest rates at the end of this month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures. "It makes sense to cut the FOMC's policy rate by 25 basis points two weeks from now," Waller told a gathering of the Money Marketeers of New York University. "I see the hard and soft data on economic activity and the labor market as consistent: The economy is still growing, but its momentum...
European markets opened slightly higher on Wednesday as traders assessed the region's economic outlook. The pan-European Stoxx 600 index opened 0.1% higher with most sectors in positive territory, with financial services stocks up nearly 1%. The worst-performing sector was autos. Traders will be watching data on European consumer confidence and economic sentiment. On the earnings front, Shell will release its fourth-quarter update. European markets closed higher on Tuesday as investors in the region digested the latest inflation data showing euro zone consumer prices rose to 2.4% in...
Japanese stocks fell after the close on Wednesday, as losses in the Electric Power, Transportation Equipment and Warehousing sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 0.27%. The best performer on the Nikkei 225 was Rakuten Inc (TYO:4755), which rose 5.73% or 49.90 points to trade at 920.10 at the close. Meanwhile, Mitsui Mining and Smelting Co. (TYO:5706) rose 4.29% or 199.00 points to close at 4,835.00 and Furukawa Electric Co., Ltd. (TYO:5801) gained 3.90% or 274.00 points to 7,302.00 in late trade. The worst performer on the session was Tokio Marine...
Japan's 10-year government bond yield surged above 1.17% on Wednesday, reaching its highest level since May 2011, mirroring the rise in US Treasury yields as strong US economic data reduced expectations for further Federal Reserve interest rate cuts. Domestically, investors are preparing for the Bank of Japan's branch managers' meeting this week and Deputy Governor Himino's speech next week, both of which are expected to provide further guidance on the rates outlook. BOJ Governor Kazuo Ueda recently reiterated that any policy adjustments will depend on economic, price, and financial...
The Nikkei 225 Index dropped 0.8% to fall below 39,800, while the broader Topix Index lost 0.7%, settling at 2,767 on Wednesday, reversing gains from the previous session as US Treasury yields surged. Japanese shares also mirrored a tech-driven selloff on Wall Street overnight, fueled by concerns over persistent inflation and reduced expectations of further interest rate cuts by the Federal Reserve. Investors in Japan are also looking ahead to local wage data this week, which could offer further insights into the Bank of Japan's monetary policy outlook. Notable losses were seen in index...
U.S. stocks closed down on Tuesday after a batch of upbeat economic data raised concerns that an inflation rebound could slow down the Federal Reserve's pace of monetary policy easing. Stocks gave up early gains after a Labor Department report showed job openings unexpectedly increased in November, while a separate report said services sector activity accelerated in December with a measure tracking input prices surging to a near two-year high. Benchmark 10-year Treasury yields hit an eight-month high at 4.677% after the data pointed to a strong economy. Signs of continued resilience in...
According to a statement by the Federal Reserve (Fed), Fed Chair Jerome Powell met with United States (US) President Donald Trump on Thursday, where the head of the Fed reiterated that the Fed's...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...