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☆ EUROPE Australia hikes but tempers its outlook
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +3 min

Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. The Aussie dollar fell more than 0.8% and Australian government bonds rallied because the 25 basis point hike by the Reserve Bank of Australia came with a softening of language on whether further hikes would be needed. It was an otherwise quiet session in the absence of major updates that might have consequences for the interest rate outlook. Last week's chaos in Chinese money markets has subsided but it left behind a glimpse of financial pressures beneath the surface and the challenges around China's uneven recovery from the COVID-19 pandemic. British house prices, German industrial output and European producer prices are due later on Tuesday, as are earnings from UBS (UBSG.S).

Persons: Daniel Munoz, Tom Westbrook, Read, SoftBank, Benjamin Netanyahu, Fed's Waller, Logan, Schmid, ECB's de, Edmund Klamann Organizations: Reserve Bank of Australia, REUTERS, Bond, South, Read Reuters, UBS, 163rd Melbourne, NY, Thomson Locations: Sydney, Australia, Asia, Japan, British, Gaza

☆ Bank of Canada struck intentionally hawkish tone after last rate decision, minutes show
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. The Bank of Canada (BoC) kept its key rate at 5% on Sept 6, noting the economy had entered a period of weaker growth, but said it could hike again should price pressures persist. The hawkish tone struck by the BoC since the latest rate decision was intentional, according to the minutes, or summary of deliberations, of the six Governing Council members. They "considered the possibility that their decision could be misinterpreted as a sign that policy tightening had ended and that lower interest rates would follow," the summary read. It continued: "They agreed that they did not want to raise expectations of a near-term reduction in interest rates, given that they only considered keeping the policy rate where it is or raising it further."

Persons: Chris Wattie, Steve Scherer, David Ljunggren OTTAWA, Sharon Kozicki, David Ljunggren Organizations: Bank of Canada, REUTERS, The Bank of Canada, BoC, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Reuters Ottawa

☆ Bank of Canada: Underlying inflation is inconsistent with 2% target
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. REUTERS/Chris Wattie/File Photo Acquire Licensing RightsBy Steve Scherer and David LjunggrenOTTAWA, Sept 19 (Reuters) - The Bank of Canada on Tuesday said recent volatility in headline inflation is not unusual but the underlying trend shown by core measures was inconsistent with bringing inflation down to the 2% target. "(They) are one reason why we look at measures of core inflation - which exclude components with more volatile price movements - to get a sense of what underlying inflation is." One of those core measures, CPI-trim - which leaves out spiking mortgage interest costs - has been between 3.5%-4% in recent months. "Underlying inflation is still well above the level that would be consistent with achieving our target of 2% CPI inflation," Kozicki said.

Persons: Chris Wattie, Steve Scherer, David Ljunggren OTTAWA, Sharon Kozicki, Kozicki, Macklem, David Ljunggren Organizations: Bank of Canada, REUTERS, University of Regina, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Saskatchewan, Reuters Ottawa

☆ Hot inflation data helps lift Canadian dollar to 6-week high
▼ + stars: | 2023-09-19 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. The Canadian dollar was trading 0.3% higher at 1.3440 to the greenback, or 74.40 U.S. cents, after touching its strongest intraday level since Aug. 10 at 1.3383. Canada's annual inflation rate in August jumped to 4.0% from 3.3% in July on higher gasoline prices. "The oversold nature of the Canadian dollar going into the release suggests that exchange rate gains could be generated in the shorter term." Speculators have raised their bearish bets on the Canadian dollar to the highest since May, data from the U.S. Commodity Futures Trading Commission showed on Friday.

Persons: Mark Blinch, Karl Schamotta, Sharon Kozicki, Fergal Smith, Nick Zieminski, Sandra Maler Organizations: REUTERS, greenback, Canadian, U.S, Bank of Canada, Reuters, Bank of Canada's, U.S . Commodity Futures Trading, BoC, Thomson Locations: Toronto, TORONTO, Canadian

Two of the three core inflation measures also rose. The annual rate, the highest since the 4.4% reported in April, is double the Bank of Canada's 2% target. "Underlying inflation is still well above the level that would be consistent with achieving our target of 2% CPI inflation," she said. Money markets raised bets for a rate hike in October after the data, seeing a 42% chance of an increase after the price figures compared with 23% before. However, another inflation report and a bevy of other data are due out before the Canadian central bank next meets on Oct 25 to set the key overnight rate.

Persons: Derek Holt, Holt, Sharon Kozicki, Jimmy Jean, Justin Trudeau's, Andrew Grantham, David Ljunggren, Steve Scherer, Dale Smith, Fergal Smith, Divya Rajogopal, Paul Simao, Mark Porter Organizations: Reuters, Statistics, Bank of Canada's, Scotiabank, Bank of, Bank of Canada, Canadian, Desjardins Group, CIBC Capital Markets, Tiff, Thomson Locations: OTTAWA, Statistics Canada, Canadian

☆ Long-lost 'Star Wars' X-wing model up for auction with $400,000 starting price
▼ + stars: | 2023-09-11 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

CNN —A long-lost model of an X-wing fighter used in the original 1977 “Star Wars” movie is up for auction, with a starting price of $400,000. Used in the filming of the final battle in “Star Wars: Episode IV - A New Hope” as the Rebel Alliance fight the Empire above the Death Star, the model “represents the pinnacle of Star Wars artifacts to ever reach the market,” Dallas-based auction house Heritage Auctions said. Long known as “the missing X-wing,” it was discovered by a team of visual effects experts, including Gene Kozicki (“Face/Off” and “Flight of the Phoenix”), as they helped Jein’s family sift through his collection, Kozicki told the Hollywood Reporter. “This model has not been displayed or modified since it left ILM (visual effects company Industrial Light & Magic),” Kozicki said. “(Steven Spielberg’s) ‘Close Encounters of the Third Kind’ and ‘Star Wars’ were being made at roughly the same time, and with an overlapping group of people,” Kozicki said.

Persons: ”, Greg Jein, Long, Gene Kozicki, Kozicki, ” Kozicki, Oscar, George Lucas, Jein, “, Steven Spielberg’s, Steven Spielberg Organizations: CNN, “ Star, Rebel Alliance, Heritage, “, Hollywood, ILM, Maltese Falcon, Industrial, Hollywood Reporter, ‘ Locations: ” Dallas

☆ Long-lost ‘Star Wars’ X-wing model fetches over $3.1 million at auction
▼ + stars: | 2023-09-11 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

Editor’s Note: This article was updated with the final sale price and other details following the auction’s conclusion. CNN —A long-lost model of an X-wing fighter used in the original 1977 “Star Wars” movie sold at auction for over $3.13 million on Sunday. Used in the filming of the final battle in “Star Wars: Episode IV – A New Hope” as the Rebel Alliance fight the Empire above the Death Star, the model represented “the pinnacle of Star Wars artifacts to ever reach the market,” Dallas-based auction house Heritage Auctions said ahead of the sale. “This model has not been displayed or modified since it left ILM (visual effects company Industrial Light & Magic),” Kozicki said. “(Steven Spielberg’s) ‘Close Encounters of the Third Kind’ and ‘Star Wars’ were being made at roughly the same time, and with an overlapping group of people,” Kozicki said.

Persons: ”, Greg Jein, ” Long, Gene Kozicki, Kozicki, ” Kozicki, Oscar, George Lucas, Jein, “, Steven Spielberg’s, Steven Spielberg Organizations: CNN, “ Star, Rebel Alliance, Heritage, “, Hollywood, ILM, Maltese Falcon, Industrial, Hollywood Reporter, ‘ Locations: ” Dallas

OTTAWA, Dec 8 (Reuters) - The Bank of Canada will study the most recent economic data to gauge whether to raise interest rates further, a deputy governor said on Thursday, adding it would still move forcefully if necessary. "We expect our decisions will be more data-dependent," Deputy Governor Sharon Kozicki said in a speech in Montreal, adding the bank was still prepared to be "forceful" with rates if necessary. "We are moving from how much to raise interest rates to whether to raise interest rates." Asked to clarify if being prepared to be "forceful" meant the bank was still prepared to make oversized rate moves, Kozicki said it was a hypothetical. Deliberations ahead of Wednesday's rate hike centered on how supply challenges are resolving, how higher rates are slowing demand, and how inflation and inflation expectations are evolving, Kozicki said.

OTTAWA, Dec 8 (Reuters) - The Bank of Canada will study the latest economic data to gauge whether or not to raise interest rates further, a deputy governor said on Thursday, adding it would still move forcefully if necessary. "We are moving from how much to raise interest rates to whether to raise interest rates." But three-month rates of core inflation have declined to about 3.5%, Kozicki said, an indication "that momentum in inflation is easing". Deliberations ahead of Wednesday's rate hike centered on how supply challenges are resolving, how higher rates are slowing demand, and how inflation and inflation expectations are evolving, Kozicki said. Kozicki reiterated that starting next year, the bank will release a "summary of deliberations" in an effort to provide more transparency.

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