Thai policy tightening to be gradual as recovery slow – chief

BANGKOK, Oct 1 (Reuters) – Thailand’s economy recovery remains intact but slow, so monetary policy tightening should be gradual to ensure a smooth recovery while fighting surging inflation, the central bank chief said on Saturday. Southeast Asia’s second-largest economy is expected to return to its pre-pandemic growth rates late this year or early next, Sethaput … Read more

US consumer spending rebounds, but high inflation eroding demand

Consumer spending increases 0.4% in August Personal income rises 0.3%; saving rate steady at 3.5% Core PCE price index jumps 0.6%; up 4.9% year-on-year WASHINGTON, Sept 30 (Reuters) – US consumer spending increased more than expected in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing … Read more

Dutch inflation leaps to 17%, boosted by high energy prices

AMSTERDAM, Sept 30 (Reuters) – Inflation in the Netherlands jumped in September to its highest in decades, driven by skyrocketing energy prices, the statistics agency (CBS) said on Friday. Consumer prices, harmonized to be comparable with inflation data from other European Union countries (HICP), rose to 17.1% this month after August’s jump to 13.7%. Energy … Read more

SNAPSHOT Wall St opens lower as inflation data adds to rate-hike worries

Sept 30 (Reuters) – Wall Street’s main indexes opened lower on Friday as resilient core inflation in August stoked fears of more big-sized interest-rate hikes denting a rebound in consumer spending. The Dow Jones Industrial Average (.DJI) fell 102.58 points, or 0.35%, at the open to 29,123.03. The S&P 500 (.SPX) opened lower by 6.99 … Read more

Bank of England won’t make emergency rate hike but will go big on Nov 3

Economists lift peak UK rates forecast after market chaos Median forecast for 75 bps rate hike on Nov 3 BoE intervenes in UK bond markets to restore order LONDON, Sept 30 (Reuters) – The Bank of England won’t raise interest rates before its next scheduled policy announcement on Nov. 3 despite a plunge in sterling … Read more

French inflation unexpectedly pulls back again in September

PARIS, Sept 30 (Reuters) – French inflation slowed unexpectedly for a second month running in September, bucking the trend in neighboring Germany and the wider euro zone, helped by decelerating increases in prices of energy and services, data showed on Friday. The INSEE national statistics agency said France’s EU-harmonised rate of annual inflation fell to … Read more

Investors dump global bond and equity funds on recession risks

Sept 30 (Reuters) – Global bond and equity funds witnessed massive outflows in the week ended Sept. 28 as worries about a recession grew, with the US Federal Reserve determined to keep interest rates higher to tame inflation pressure. read more A selloff in British gilts following finance minister Kwasi Kwarteng’s announcement of historic tax … Read more

HSBC kicks off informal investor talks for Indonesian business IPO

HONG KONG, Sept 30 (Reuters) – HSBC Holdings Plc has started briefing investors on a potential initial public offering (IPO) of its Indonesian business, said two sources with direct knowledge of the matter. Executives at HSBC Indonesia have met with a group of fund managers in Singapore since last week to discuss details of the … Read more

Russian ruble leaps to 8-year high vs euro as market awaits sanctions

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Sept 30 (Reuters) – The rouble soared to its highest in almost eight years against the euro on Friday, with investors anxious that more sanctions against Moscow could limit foreign currency trading as Russia prepared to annex … Read more

China forex regulator warns against illegal money outflows

BEIJING, Sept 30 (Reuters) – China’s foreign exchange regulator named and shamed 10 banks that had assisted illegal capital outflows, vowing to crack down on fake forex transactions in authorities’ latest effort to stabilize the sliding yuan. The State Administration of Foreign Exchange (SAFE) listed 10 “typical” cases of misdeeds in a statement on its … Read more