South Korea, US agree to implement liquidity measures if needed

SEOUL, Oct 1 (Reuters) – The United States and South Korea agreed on Saturday to implement liquidity facilities to stabilize financial markets if needed, Korea’s finance ministry said after a teleconference between finance chiefs of the two countries. The won is near its lowest level since March 2009, and has weakened 17% against the surging … Read more

UK’s Truss: I recognize there has been market disruption

LONDON, Sept 30 (Reuters) – British Prime Minister Liz Truss said on Friday she recognized there had been some financial market disruption following the government’s so-called mini budget and that it was important monetary and fiscal policy are coordinated. Truss has so far argued market turbulence following the announcement of planned tax cuts a week … 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

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

UK city minister: government not taking responsibility for market chaos

LONDON, Sept 28 (Reuters) – Britain’s city minister Andrew Griffith said on Wednesday that the government was not taking responsibility for the turmoil in financial markets that followed a fiscal policy announcement last week. Asked whether he took responsibility for what was happening in financial markets, he said: “No, we both know that we’re seeing … Read more

UK lenders pull mortgages at record rate as market chaos worsens

LONDON, Sept 28 (Reuters) – A record 935 mortgage products were pulled in Britain overnight, financial services provider Moneyfacts said on Wednesday, as deepening turmoil in financial markets pushed more lenders to temporarily withdraw products for new customers. The volatility comes after the new UK government announced huge tax cuts funded by borrowing, leading to … Read more

Hawkish Fed may prompt India’s RBI to deliver a 50-basis-point hike

MUMBAI, Sept 28 (Reuters) – Interest rate hikes in the United States and the resultant pressure on the rupee is likely to give the Reserve Bank of India (RBI) reason to deliver a 50-basis-point rate hike on Friday even as it tries to protect a recovery in growth. The RBI’s monetary policy committee (MPC) has … Read more

Fed’s Daly: do not want to tip economy into downturn

Sept 27 (Reuters) – San Francisco Federal Reserve Bank President Mary Daly said on Tuesday that the US central bank is “resolute” about bringing down high inflation but also wants to do so “as gently as possible” so as not to drive the economy into a downturn. It is important, Daly said at a symposium … Read more

UK lender Halifax pulls mortgages with fees in response to market turmoil

Register now for FREE unlimited access to Reuters.com Register LONDON, Sept 26 (Reuters) – Britain’s largest mortgage lender Halifax said on Monday it had temporarily withdrawn from the market all of its mortgage products that come with a fee, in response to turmoil in British funding markets. “As a result of significant changes in the … Read more