Tiff Macklem takes to Twitter to explain why Canada needs interest rate hikes
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Tiff Macklem takes to Twitter to explain why Canada needs interest rate hikes: Bank of Canada governor Tiff Macklem explains to Canadians why interest rates are ...
financialpost.com/news/economy/bank-of-canada-interest-rates-inflation-twitter
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Tiff Macklem takes to Twitter to explain why Canada needs interest rate hikes: Bank of Canada governor Tiff Macklem explains to Canadians why interest rates are ...
financialpost.com/news/economy/bank-of-canada-interest-rates-inflation-twitter
JPMorgan warns of need for ‘reality check’ on phasing out fossil fuels: US bank says higher interest rates, inflation and global conflict have dented outlook for ...
ft.com/content/352b38a7-f298-4b54-adc2-f4cc1b17444b
Quick Glance: JPMorgan warns of Need for 'Reality Check' on Phasing out Fossil Fuels
- JPMorgan warns of setbacks in transitioning to renewable energy due to higher interest rates, inflation, and global conflicts.
- Investment in renewable energy currently offers subpar returns, potentially leading to social unrest.
- JPMorgan forecasts increasing demand for oil and gas until 2030, highlighting challenges in transitioning to renewable energy.
- Wood Mackenzie warns of the impact of higher interest rates on transitioning to a global net-zero economy, especially for renewables and nuclear power.
US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...
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Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
Cash: Germans' assets at record value - Daily money is also popular: The Germans have more money in their pockets again. The reason for this is higher interest ...
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Quick Glance: Record: Germans Hold 7716 Billion Euros in Wealth
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- Stocks and investment funds saw significant gains in the last quarter.
- Cash and bank deposits remain the largest component of wealth.
- Household net wealth increases by 244 billion euros to 5560 billion euros.
US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
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Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
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UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.
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Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
Brazil seeks to weaken fiscal targets it set only a year ago: Leftist administration of Luiz Inácio Lula da Silva wants greater flexibility on budget surplus ...
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Quick Glance: Brazil Moves to Relax Fiscal Targets Set a Year Ago
- The leftist administration of Luiz Inácio Lula da Silva wants more flexibility on budget surplus goals
- Brazilian President Luiz Inácio Lula da Silva’s government is seeking to loosen its own budget targets as investor concerns rise about the risk of fiscal slippage in Latin America’s largest economy
- Ministers intend to balance the budget next year, replacing the previous goal for income to exceed outgoings by 0.5 per cent of gross domestic product
- Analysts warn that the current deficit targets are unrealistic and likely to be tweaked, prompting investors to express concerns about Brazil’s economic approach under Lula
Few in new poll say Biden law has helped fight climate change: Very few Americans believe the Inflation Reduction Act (IRA), signed into law by President Biden ...
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If the Reserve Bank were a football coach, it would have been sacked eons ago: The bank’s job is to hold inflation between 2 and 3 per cent. Since mid-2014 ...
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U.S. Mortgage Rates Jump Above 7% for the First Time This Year: Rates on 30-year mortgages — the most common kind among U.S. homeowners — surpassed the 7 percent ...
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Petrol and diesel back to nearly €2 a litre as drivers hit by biggest price rise this year
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Stock market today: Stocks slide for the 5th straight session: The S&P 500 hit its worst losing streak since last October as investors recalibrate amid forecasts ...
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Should you wait for interest rate cuts to buy a house?: Once interest rates fall, property prices would likely go up, but buyers could borrow more money ...
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Joe Biden’s approval rating on the economy is rising among US voters: FT-Michigan Ross poll finds president’s gains could be derailed by persistent fears over ...
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The truth comes out: US is paying dearly for outperformance : The United States is floating on a giant pumped-up air mattress of excess federal spending and no ...
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Is it the right time to buy gold or wait as prices continue to soar: Is it the right time to buy gold as prices spiral?
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Business defaults soar as Australian house prices outpace the globe: Australian house prices are out-performing most of the world, even after inflation ...
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Biden's new take on inflation: Trump would be worse: Biden's team knows there's not a lot it can do to lower it before the Nov. 5 election.
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Quick Glance: Biden's New Perspective on Inflation: Trump Would Be Worse
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- March's inflation increase surpassed expectations, undermining Biden's claim of lowering prices.
- Rising oil prices due to geopolitical tensions could lead to higher gas prices, a concern for the White House.
- Biden emphasizes fighting inflation as top priority while experts debate the impact of his economic stimulus packages.
Trump Media tells shareholders how to block their DJT stock being loaned to short sellers
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Xi Jinping says China’s exports are helping ease global inflation: Chinese president warns German Chancellor Olaf Scholz against ‘rise of protectionism’
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Billionaire In-N-Out heiress Lynsi Snyder claims she went 'toe-to-toe' to keep prices down as Calif. fast food industry, prices slammed by minimum wage hike
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US and India stoke hopes of global growth in 2024 : FT-Brookings Tiger index shows ‘positive omens’ for modest pick-up compared with last year
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International Monetary Fund: Germany in last place among industrialized nations (again)
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How much money do you need to retire? Most Americans calculate $1.8 million, survey says.
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How California fast food restaurants raised menu prices in response to $20 minimum wage
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America’s interest rates are unlikely to fall this year: That will squeeze financial markets and the world economy
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Political interference in Canada’s pension funds is wrong: Ninety-two business leaders have argued that the government should amend the rules governing pension ...
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Instant view: Oil, Japan's yen up on reports Israeli missiles hit Iran: Oil and gold prices rose and Japan's yen rallied on Friday on reports Israeli missiles ...
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Ringgit opens higher despite greenback strength: KUALA LUMPUR: The ringgit opened higher against the US dollar today although the greenback’s appeal as a ...
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California restaurant will up wages to compete with $20 fast-food pay: "Why wash dishes for $15 or $17 if I can go get $20 flipping burgers at McDonald's ...
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Quick Glance: California eateries adjust wages to meet competition with $20 fast-food pay
- A restaurant owner in California plans to raise wages to compete with the $20 per hour pay for fast-food workers.
- Legislation is expected to drive up wages in various sectors as they strive to attract and retain employees.
- The increased minimum wages worsen the existing challenges faced by independent restaurants in California.
- Implementing price changes, cost-cutting strategies, and reduced operating hours could be potential measures to streamline operations.
What the key interest rates mean for savers: Inflation is falling - the ECB is heading for a possible first interest rate cut. Consumers could already be feeling ...
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The Forever Stamp is forever rising in price. How does the U.S. cost compare globally?
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Why child care costs are soaring: Wages in the industry have risen fast in the last few years — but they're still pretty low.
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Wall St Week Ahead Surging US energy shares reflect robust growth, inflation worries
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Gold is back — and it has a message for us: The precious metal’s surge may herald a whole new world
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Concern for Bank of England as real earnings growth at highest rate since 2021: While the wage figures are good news for households on the face of it ...
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Quick Glance: Rising Real Earnings Growth Raises Concerns at Bank of England
- An unexpectedly weaker decline in the pace of wage increases has led to real earnings growth reaching its highest level in nearly two and a half years when considering inflation, according to the latest official data.
- Recent official figures indicate that average regular pay without bonuses was at 6% in the three months to February compared to the previous year.
- The broader ONS statistics revealed an increase in the UK's unemployment rate from 3.9% to 4.2%, with caution due to ongoing efforts to enhance the reliability of employment data.
- The forthcoming inflation data expected on Wednesday is likely to demonstrate further progress towards the Bank's objectives and the potential for a decrease from the current 5.25% interest rate.
Why is the economy so strong? New hires are spending more and upgrading their lifestyles
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Heineken Ireland is latest to hike price of pint from June: Heineken Ireland has announced that the price of its draught products will increase from June 4.
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Here are the tax brackets to file your 2023 taxes: The tax brackets for Americans will shift upward for tax year 2023, following a series of rule adjustments to ...
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The shadow of war darkens on the global economy: Short-term performance has been surprisingly good but policymakers are walking on eggshells
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Multinational giants urged to front supermarket inquiry for ‘playing hardball’: Australian retailers have turned their sights on global suppliers such as Nestle ...
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Why the US dollar is setting off alarm bells around the world: Suddenly, tension and uncertainty have gripped financial markets, making them highly volatile.
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Coping with higher prices on smaller portions and chicken nuggets: The past few years have been tough financially for many of us, and it’s potentially changing ...
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The New Magic Number for Retirement Is $1.46 Million. Here’s What It Tells Us.: There is no single formula for how much you need to save in your 401(k).
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You might get more money in your Social Security check than expected next year: Here's why
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More Malaysians seeking jobs in Singapore amid weakening ringgit, inflation: Recruiters
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2 Indian-Origin Men Among 6 Arrested In Canada's Biggest Gold, Cash Heist: On April 17, 2023, an air cargo container carrying more than 22 million Canadian ...
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Quick Glance: Six Arrested in $22M Airport Gold Heist, Inside Job Unveiled
- Six individuals were arrested for the multimillion-dollar gold heist at Toronto's Pearson International Airport.
- Police identified it as an 'inside job' and charged nine suspects in connection with the crime.
- Investigations revealed that former Air Canada employees were allegedly involved in the theft.
- The criminals intended to use the stolen gold and cash to finance illegal firearms trafficking into Canada.
Social Security's COLA estimate rises. But seniors could struggle as inflation heats up.
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Morning Bid: De-risking, seeking safety as Middle East tensions rise: A look at the day ahead in Asian markets.
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UK facing food shortages and price rises after extreme weather: Heavy rain likely to cause low yields in Britain and other parts of Europe ...
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What China’s central bank and Costco shoppers have in common: Hint: it is not a fondness for cryptocurrencies
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