JCP&L Suspends Summer Shut-Offs as New Jersey Electricity Rates Increase 20%
HOLMDEL, N.J. — A failed state energy plan has resulted in electricity rate increases as high as 20% in New Jersey, thanks to Governor Phil Murphy’s failed clean energy agenda, but one…
Global elite heads to Milken event to talk banks, rates and recession
By Svea Herbst-Bayliss and Carolina Mandl NEW YORK (Reuters) – When Wall Street investors, dealmakers and chief executives meet in Beverly Hills next week to strategize on how to make money given…
Czech rates seen on hold before cut in third quarter
By Jason Hovet PRAGUE (Reuters) – The Czech National Bank (CNB) is likely to maintain policy stability and keep its key interest rate at a more than two-decade high of 7.00% on…
Japan’s ex-top FX diplomat sees BOJ keeping ultra-low rates this year
By Leika Kihara and Yoshifumi Takemoto TOKYO (Reuters) – The Bank of Japan (BOJ) is set to keep monetary policy steady on Friday and may struggle to raise interest rates off their…
Philippine central bank chief: ‘Dangerous’ to cut rates faster than Fed
MANILA (Reuters) – The Philippines’ central bank considers it “dangerous” to cut interest rates faster than a policy easing by the U.S. Federal Reserve, its governor said on Wednesday. While Philippine…
ECB will have to raise rates again on May 4, Lane tells Le Monde
PARIS (Reuters) – The European Central Bank will need to raise interest rates again at its forthcoming meeting next week but the size of the move is still open to debate, its…
Marketmind: Zooming in on AI, rates and chips wars
A look at the day ahead in European and global markets from Vidya Ranganathan. ChatGPT vs Bard. Earnings from U.S. tech giants Microsoft Corp, which backs ChatGPT, and Google parent Alphabet Inc,…
ECB has travelled most of the way towards higher interest rates – Villeroy
PARIS (Reuters) – The European Central Bank has already gone “most of the way” in raising interest rates to tackle inflation, French ECB policymaker Francois Villeroy de Galhau said on Monday, adding…
Exclusive-China guides banks to further cut deposit rates – sources
(Reuters) – China nudged banks this month to cut deposit interest rates further, seven people with knowledge of the matter said, in the latest effort to channel the country’s vast savings pool…
Bank of Korea’s Rhee says some short-term rates have fallen more than expected
SEOUL (Reuters) -The head of South Korea’s central bank said on Monday some short-term interest rates had fallen more than he had expected, adding it was probably due to a shift in…
Turkey’s Erdogan says interest rates will fall as long as he is in power
ANKARA (Reuters) – Turkish President Tayyip Erdogan said on Friday that interest rates will fall as long as he is in power, and that inflation will decline with them, repeating his unorthodox…
CSX quarterly results beat estimates on higher freight rates
(Reuters) – U.S. railroad operator CSX Corp posted better-than-expected quarterly profit and revenue on Thursday, as higher shipment rates had helped offset the impact of a 1% drop in volumes. Shares of…
U.S. Bancorp beats profit estimates as higher rates boost interest income
(Reuters) – U.S. Bancorp (USB) on Wednesday beat estimates for first-quarter profit as rapid rate hikes from the Federal Reserve helped the lender earn more from the interest charged on loans. That…
Marketmind: Global pulse picks up, rates creep higher again
A look at the day ahead in U.S. and global markets from Mike Dolan With investors largely assuming recession ahead, an accelerating global economic pulse challenges the narrative and is seeing interest…
BIS head warns of threats to financial stability, rates need to stay higher
By Marc Jones LONDON (Reuters) – The head of the Bank of International Settlements has warned that years of fighting economic crises have created conditions that are pushing the limits of stability…
IMF sees high rates, oil prices and inflation worries in Middle East
WASHINGTON (Reuters) – Banks in the Middle East and Central Asia have very limited exposure to last month’s banking turmoil in the United States and Europe, but financial pressures are adding to…
Bank of Canada discussed raising rates at latest policy meeting -governor
(Reuters) – The governing council of the Bank of Canada discussed raising interest rates at its policy meeting earlier this week before deciding to leave them on hold, the central bank’s governor,…
IMF sees BOJ keeping negative rates, scope for tweak to yield cap
By Leika Kihara WASHINGTON (Reuters) – The Bank of Japan is likely to maintain negative short-term interest rates until inflation durably hits 2%, but could allow long-term yields to move more flexibly…
Fed’s Waller: Not much progress on inflation, higher rates needed
By Howard Schneider (Reuters) – Despite a year of aggressive rate increases U.S. central bankers “haven’t made much progress” in returning inflation to their 2% target and need to move interest rates…
PNC Financial beats profit estimates on boost from higher interest rates
(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in the U.S. regional lender’s net interest income…
Bank Indonesia forecast to hold rates at 5.75% for rest of 2023
By Sujith Pai and Veronica Dudei Maia Khongwir BENGALURU (Reuters) – Bank Indonesia is expected to keep its key interest rate unchanged at 5.75% for a third consecutive meeting on April 18…
Brazil’s Haddad says central bank has a window of opportunity to lower rates
(Reuters) – Brazil’s Finance Minister Fernando Haddad said on Thursday that the central bank has an opportunity to lower interest rates to help boost economic growth as fiscal and monetary policies are…
Smaller Chinese banks cut deposit rates on squeezed margins
BEIJING (Reuters) – Several small and mid-sized banks in China have lowered their deposit interest rates, a move that could help ease costs as loan growth faces more pressure amid rising economic…
Exclusive-Boeing targets 2025 for return to pre-crisis 737 MAX production rates -sources
By Valerie Insinna WASHINGTON (Reuters) – Boeing Co intends to restore production of its bestselling 737 MAX jet to its 2019 rate of 52 a month by January 2025 as it seeks…
ECB may need to hike rates again in May – Lane
FRANKFURT (Reuters) – The European Central Bank will need to raise interest rates again in May if inflation develops along the path seen in the bank’s March economic projections, ECB chief economist…
India central bank set to raise rates 25 bps on elevated inflation, keep hawkish stance
By Swati Bhat MUMBAI (Reuters) – India’s central bank is widely expected to raise its benchmark rate on Thursday for the seventh consecutive meeting and leave the door open for more increases…
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