New Jersey lawmakers say state push to delay energy hikes an election season gimmick
TRENTON, N.J. — Republican Senators Anthony Bucco and Michael Testa slammed the New Jersey Board of Public Utilities (BPU) on Wednesday over its latest move allowing utility companies to propose deferred rate…
Pakistan hikes fuel prices to unlock IMF funding
By Gibran Naiyyar Peshimam and Asif Shahzad KARACHI, Pakistan -Pakistan on Thursday announced it will hike fuel prices so that it can resume receiving aid from a $6 billion package signed with…
Most May FOMC participants backed 50 bp hikes in June and July
NEW YORK – All participants at the Federal Reserve’s May 3-4 policy meeting backed a half-percentage-point rate increase to combat inflation they agreed had become a key threat to the economy’s performance…
Sri Lanka hikes fuel prices, encourages people to work from home
COLOMBO – Sri Lanka hiked petrol prices by 20%-24% on Tuesday and also increased diesel prices by 35%-38%, Power and Energy Minister Kanchana Wijesekera said. In a message on Twitter, Wijesekera said…
Brazil should speed up Eletrobras privatization before Fed hikes rates, official says
By Marcela Ayres and Bernardo Caram BRASILIA – Monetary tightening in the United States makes it all the more pressing to speed up the privatization of Brazil’s largest utility, state-run power company…
Fed’s Daly backs half-percentage-point rate hikes at next meetings
(Reuters) – San Francisco Federal Reserve President Mary Daly on Thursday said she backs the plan to hike interest rates laid out by Fed Chair Jerome Powell and would like to see…
Denmark hikes economic growth forecast despite war, inflation
COPENHAGEN – Denmark’s economy could grow as much as 3.4% this year despite the negative effects of the war in Ukraine and record high inflation, the finance ministry said on Thursday, a…
India’s economic growth to slow if central bank hikes rates – official
NEW DELHI – India’s economic growth rate is likely to slow if the central bank hikes interest rates, Finance Secretary TV Somanathan told CNBC TV18 on Thursday. India’s central bank is likely…
Fed’s Mester: Will need “compelling” drop of inflation to slow rate hikes
By Howard Schneider AMELIA ISLAND, Fla. – Inflation will need to show a “compelling” slowdown before the Federal Reserve can consider pausing its interest rate increases, Cleveland Federal Reserve President Loretta Mester…
Fraport to compensate rising inflation with price hikes
FRANKFURT – Germany’s largest airport operator Fraport said on Tuesday it expects to be able to compensate for rising inflation by passing costs to customers even as it sees higher consumer prices…
Fed’s Williams: 50 bps interest rate hikes at next two meetings “makes sense”
ELTVILLE AM RHEIN, Germany – The Federal Reserve’s signal that it will likely raise interest rates by 50 bps at each of its next two meetings in June and July is sensible,…
Fed’s Bostic says can do “maybe two, maybe three” half point hikes, then assess
WASHINGTON -The U.S. Federal Reserve can stick to half point interest rate hikes for the next two to three meetings then assess how the economy and inflation are responding before deciding whether…
Australia’s central bank drastically raises inflation forecasts, flags more rate hikes
SYDNEY – Australia’s central bank on Friday drastically revised up forecasts for inflation, foreshadowing how far interest rates might have to rise to bring the country’s cost of living crisis under control.…
Economists expect higher rate hikes after RBI’s hike to tame inflation
By Manoj Kumar and Aftab Ahmed NEW DELHI – India’s central bank is expected to frontload more aggressive interest rate hikes in its effort to tame high inflation, at least until its…
Investor pessimism mounts as more Fed rate hikes loom
By Lewis Krauskopf and Saqib Iqbal Ahmed NEW YORK – Stock market investors are heading into the U.S. Federal Reserve’s rate-setting announcement particularly pessimistic, with fresh milestones for bond yields and worries…
Australian banks’ margin woes linger but rate hikes may lift view
By Shashwat Awasthi (Reuters) – Australia’s “Big Four” banks are set to report a further squeeze on interest margins in their upcoming results dented by growing competition, though the prospect of a…
Continental plans price hikes due to $3.7 billion extra costs in 2022
FRANKFURT – German car parts supplier Continental said on Friday it expects energy, logistics and materials cost to rise by 3.5 billion euros ($3.7 billion) this year due to COVID-19 and the…
ECB has room for 2-3 rate hikes this year, says Kazaks
FRANKFURT – The European Central Bank should raise interest rates soon and has room for up to three hikes this year, ECB policymaker Martins Kazaks told Reuters, joining a chorus of policymakers…
Fed’s Mester wants ‘methodical’ rate hikes, not giant ones
(Reuters) – Cleveland Federal Reserve Bank President Loretta Mester on Friday pushed back against market expectations that the Fed will use outsized hikes to help bring down inflation, saying she prefers a…
Analysis-Dollar’s rally may be nearing ‘tipping point’ as Fed readies big hikes
By Saqib Iqbal Ahmed and Gertrude Chavez-Dreyfuss (Reuters) – A months-long rally in the dollar may be reaching its peak as the Federal Reserve gears up to deploy more interest rate hikes,…
Union Pacific quarterly profit jumps on price hikes, higher shipments
(Reuters) -U.S. railroad operator Union Pacific Corp posted a 21.5% jump in first-quarter profit on Thursday, benefiting from higher shipments due to a rise in U.S. factory production and price hikes. Price…
Canada’s TD Bank to offer salary hikes, one-time cash rewards to employees
(Reuters) – TD Bank Group will offer eligible employees a 3% increase to their base pay or a one-time cash reward effective July 1, Chief Executive Officer Bharat Masrani said in an…
Peru hikes interest rate to 13-year high as inflation sparks protests
LIMA – Peru’s central bank raised the country’s benchmark interest rate 50 basis points to 4.5% on Thursday, the highest since 2009, as authorities battle stubborn inflation that has sparked angry protests…
Pakistan central bank hikes policy rate by 250bps to 12.25% in emergency meeting
By Gibran Naiyyar Peshimam and Asif Shahzad ISLAMABAD -Pakistan’s central bank raised its policy rate by 250 basis points to 12.25% in an emergency meeting on Thursday, the bank said in a…
BOC Aviation says lessors seeing ‘horrendous’ hikes in insurance costs
By Padraic Halpin DUBLIN – The likely huge insurance claims related to the cancellation of aircraft leases in Russia is already leading to “horrendous” hikes in the cost of renewing policies, the…
Canadian dollar seen higher if BoC front-loads rate hikes- Reuters poll
By Fergal Smith TORONTO – REUTERS POLL-CANADIAN DOLLAR TO STRENGTHEN SLIGHTLY TO 1.25/USD IN THREE MONTHS, MATCHING MARCH’S FORECAST REUTERS POLL-CANADIAN DOLLAR SEEN UP 2% AT 1.23/USD IN ONE YEAR Canada’s dollar…
Breaking News
