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

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

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

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

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

Singapore tightens property curbs to tame demand as rates rise

SINGAPORE, Sept 30 (Reuters) – Singapore has unveiled a package of measures for the property market, including tightening lending limits for housing loans in response to a rise in interest rates, as well as new steps to moderate demand. The move would ensure “prudent borrowing” and “avoid future difficulties” in servicing home loans, said Singapore’s … Read more

INDIA STOCKS Indian shares inch lower ahead of RBI policy outcome

BENGALURU, Sept 30 (Reuters) – Indian shares edged lower on Friday, dragged by losses in information technology and autos, ahead of an expected rate hike decision by the country’s central bank to fight inflation. The NSE Nifty 50 index (.NSEI) was down 0.3% at 16,776, as of 0347 GMT, and the S&P BSE Sensex (.BSESN) … Read more