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☆ Women’s World Cup: Hosts New Zealand and Australia kick off 2023’s summer of football
▼ + stars: | 2023-07-19 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +5 min

CNN —The 2023 Women’s World Cup finally gets underway on Thursday with the two host nations kicking off the tournament and the summer of footballing festivities. “What this World Cup stands for, and these milestones are even more important and bigger than me and any of my goals on the soccer field. John Cowpland/APAda Hegerberg’s World Cup comebackNorway comes into the game against their hosts as heavy favorites and with star quality all over the pitch. McCabe has overcome a late injury scare to make the World Cup and embodies her national team’s courageous and battling style of play. Stephen McCarthy/Sportsfile/Getty ImagesHow to watchNew Zealand vs Norway kicks off at 03:00 AM ET with Australia vs Republic of Ireland starting at 08:00 AM ET.

Persons: Ada Hegerberg, Sam Kerr, “, Ali Riley, CNN’s Amanda Davies, ” Riley, John Cowpland, Ada, Ballon d’Or Féminin, Hegerberg, Harriet Lander, Kerr, Michael Regan, Katie McCabe, McCabe, Stephen McCarthy Organizations: CNN, Norway, New, New Zealand, Zealand, Football Ferns, football’s, Hegerberg, Norwegian Football Federation, Olympique Lyonnais Féminin, Getty, Australia, Republic, Chelsea, Brazil, USA, Italy, Women's Super League, Republic of Ireland, Colombia, Football Association of Ireland, FAI, Arsenal Locations: New Zealand, Norway, Australia, Republic of Ireland, New, Zealand, Ireland, Republic of, The Republic, Swiss, Brisbane

☆ McIlroy in good place to end long major drought
▼ + stars: | 2023-07-19 | by ( Ed Osmond | ) www.reuters.com time to read: +3 min

Victory at the Scottish Open on Sunday, however, continued a consistent year in which McIlroy has recorded eight top-10 finishes. He was second at last month's U.S. Open and the world number two is glad to be back at Hoylake. "It feels like such a long time ago," McIlroy said. "You're trying to rekindle the memories as I was driving from the airport last night and getting onto the Wirral. World number one Scottie Scheffler will lead the challengers along with third-ranked Jon Rahm and defending champion Smith while Tommy Fleetwood could be the best hope of a first English Open champion since 1992.

Persons: Rory McIlroy, McIlroy, St Andrews, Cameron Smith, " McIlroy, you've, it's, I've, Scottie Scheffler, Jon Rahm, Smith, Tommy Fleetwood, Rickie Fowler, Viktor Hovland, Jordan Spieth, Ed Osmond, Toby Davis Organizations: Royal Liverpool, U.S, PGA, St, Scottish, Fleetwood, St Andrews, Thomson Locations: HOYLAKE, England, Hoylake

☆ NATO's northernmost members are preparing for an undersea showdown with Russia
▼ + stars: | 2023-07-18 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +8 min

NATO navies worry about those subs and they've increased their focus on countering undersea threats. Nordic navies are investing in their own submarine fleets to keep track of Russia's boats. A particular concern for the alliance is Russia's submarines, many of which are assigned to those two fleets. The potential threat from Russia's undersea forces has prompted its neighbors to reevaluate their own submarine needs. But Sweden's western neighbors, Norway and Denmark, both see a need for bigger sub fleets.

Persons: Christopher Cavoli, OLGA MALTSEVA, Ronald Reagan, Fredrik Linden, Petty, Marlowe Dix, Michael Aastrup Jensen, Aastrup Jensen, HENRIK MONTGOMERY, Eirik Kristoffersen, Kristoffersen, Constantine Atlamazoglou Organizations: NATO, Nordic, Service, Baltic, US, Command, Allied, Getty, North Atlantic, Baltic Fleet, Navy, Submarine, Reuters, Naval, Norfolk, US Navy, Hudson Institute, Getty Images, Submarines, Armed Forces, Fletcher School of Law, LinkedIn, Twitter Locations: Ukraine, Wall, Silicon, Nordic, Gulf of Finland, St . Petersburg, AFP, Finland, North, Russia's, Kaliningrad, Russia, Baltic, Sweden, Swedish, Gotland, Blekinge, Navy Gotland, Sweden's, Norwegian Ula, Norway, Denmark, Danish, Ula, Oslo, Swedish Gotland, Halland, Stockholm

Second-quarter earnings are gathering momentum, with Tesla (TSLA.O) due to report on Wednesday, while Bank of America (BAC.N), Morgan Stanley (MS.N), Goldman Sachs (GS.N) and Netflix (NFLX.O) are also lined up through the rest of the week. Of the 30 companies in the S&P 500 that have reported earnings as of Friday, 80% beat analyst expectations, according to Refinitiv data. In trading before the bell, Tesla <TSLA.O> gained 1.6% after the company said on Sunday it had built its first Cybertruck, after two years of delays. Lackluster Chinese economic data weighed on investors' minds on Monday as the world's second largest economy grew at a frail pace in the second quarter. During the week, investors also await retail sales and new homes figures for June.

Persons: Morgan Stanley, Goldman Sachs, JPMorgan Chase, Danni Hewson, AJ Bell, Bansari Mayur, Nivedita Bhattacharjee, Maju Samuel Organizations: Dow, Nasdaq, Bank of America, Netflix, Dow e, Federal Reserve, JPMorgan, Citigroup, Activision, Microsoft, PlayStation, Federal Trade, Meta, Thomson Locations: Norway, Wells Fargo, U.S, Bengaluru

☆ Norway regulator to fine Meta over privacy breaches
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

Regulator Datatilsynet said it would charge the fine every day from Aug. 4 until Nov. 3 unless Meta takes action. Datatilsynet has referred its move to the European Data Protection Board, which, if the latter agrees, could make the fine permanent and widen the decision's territorial scope in Europe. Datatilsynet's decision comes days after the European Union's top court ruled Meta cannot harvest user data for behavioural advertising. In December the data regulator in Ireland (DPC), where Meta has its European headquarters, said the firm had to stop the practice. "We continue to constructively engage with the Irish DPC, our lead regulator in the EU, regarding our compliance with its decision," Meta said.

Persons: Datatilsynet, Meta, Tobias Judin, Gwladys Fouche, Anna Ringstrom, Jason Neely Organizations: Meta, Big Tech, Reuters, European Data Protection, European, NRK, Thomson Locations: OSLO, Norway, Datatilsynet, Europe, Ireland, Norwegian

☆ Kahoot agrees to $1.72 billion cash offer from Goldman Sachs, other investors
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: 1 min

COPENHAGEN, July 14 (Reuters) - Norway's Kahoot (KAHOT.OL) has agreed to a voluntary cash offer of 17.2 billion Norwegian crowns ($1.72 billion) from the private equity business within Goldman Sachs Asset Management and a group of other investors, the company said in a statement on Friday. Goldman set up Norwegian company Kangaroo for the offer that the bank is making with General Atlantic, Kirkbi invest, Glitrafjord and others, Kahoot said in a statement. The offer sent the shares up more than 10% to 34.5 crowns, nearing the offer price of 35 crowns per share. The planned transaction was unanimously recommended by Kahoot's board, the company said. ($1 = 9.9809 Norwegian crowns)Reporting by Louise Breusch Rasmussen, editing by Essi LehtoOur Standards: The Thomson Reuters Trust Principles.

Persons: Goldman, Kahoot, Louise Breusch Rasmussen, Essi Organizations: Goldman Sachs Asset Management, General Atlantic, Thomson Locations: COPENHAGEN

FRANKFURT/LONDON July 13 (Reuters) - Energy majors BP (BP.L) and TotalEnergies (TTEF.PA) have won a 7 gigawatt (GW) offshore wind site auction in Germany worth a record 12.6 billion euros ($14.1 billion), allowing them entry to the central European market without a partnership. The awards for capacity due to come online in 2030 also excluded leading offshore wind developers, such as RWE (RWEG.DE) and Orsted (ORSTED.CO). AUCTION DESIGNThe 7 GW electronic auction officially opened in January and bidders had until June 1 to submit offers. In previous German lease auctions, companies have made low or negative bids with the expectation of subsidies from the state. Industry groups have said the high costs of the leases could drive up the cost of offshore wind projects.

Persons: Bundesnetzagentur, Bernstein, WindEurope, Orsted, Norway's, TotalEnergies, Vera Eckert, Susanna Twidale, Christoph Steitz, Ron Bousso, Nora Buli, Nina Chestney, Barbara Lewis Organizations: Energy, BP, Industry, Thomson Locations: FRANKFURT, Germany, Macquarie, England, Danish

Consumer goods makers say the price hikes are necessary, and that they have taken a hit to margins over the past two years. Some companies such as Clorox (CLX.N) have even begun to ease off the hikes to protect sales volumes as input costs fall. "In the U.S. in particular, these pressures are more acute than in Europe," Janus Henderson portfolio manager Luke Newman told Reuters. U.S. consumer strength has begun weakening, "and that's bad news for the consumer companies," Barclays analyst Iain Simpson said. Still, cost inflation has chipped away at margins, which have broadly fallen 2-4 percentage points over the past two years for the consumer goods industry.

Persons: Janus Henderson, Luke Newman, Newman, Richard Marwood, Robert Klaber, Parnassus, Iain Simpson, Alvarez, Marsal, David Chavern, Stephanie Niven, Niven, Irene Jensen, Jensen, Thomas Joekel, Richa Naidu, Jessica DiNapoli, Matt Scuffham, Deepa Babington Organizations: U.S, Consumer, Reuters, Royal London Asset Management, Investments, Biden, Barclays, Procter, Gamble, Consumer Brands Association, Sustainable Equity Fund, Norges Bank Investment Management, Unilever, Reckitt, Investment, Thomson Locations: Ukraine, U.S, Europe, San Francisco, United States

☆ European shares gain ahead of key US inflation data
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

June 12 (Reuters) - European shares edged higher on Wednesday in the run-up to the release of key U.S. inflation data which will determine whether the Federal Reserve is nearing the end of its monetary policy tightening. The pan-European STOXX 600 index (.STOXX) was up 0.3% by 7:07 GMT. The U.S. data, scheduled to be released at 1230 GMT, is expected to show the consumer price (CPI) index moderated to 3.1% year-on-year in June after May's 4% rise. A sharp slowdown in inflation could fuel bets that the Fed might end its market-punishing rate hikes after July. Reporting by Matteo Allievi in Gdansk and Amruta Khandekar in Bangalore; Editing by Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Jefferies, Matteo Allievi, Sohini Goswami Organizations: Federal Reserve, May's, Technology, ASML, Infineon, Thomson Locations: U.S, Gdansk, Amruta, Bangalore

☆ US dollar drops to three-week low as Fed rate hikes nearly done
▼ + stars: | 2023-07-10 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

In afternoon trading, the dollar index , which tracks the U.S. currency against a basket of major peers, slid 0.3% to 101.98, a three-week low. With U.S. nonfarm payrolls out of the way, attention turns to U.S. inflation data due on Wednesday. The Norwegian crown firmed against the dollar and euro following Norway's inflation data. The Chinese yuan slumped against the dollar after weak inflation numbers in the world's second-largest economy. The weak Chinese data dragged down the Australian and New Zealand dollars, which are often used as liquid proxies for the Chinese yuan.

Persons: gainers, Mary Daly, nonfarm, Erik Nelson, Wells, Nelson, Gertrude Chavez, Dreyfuss, Alun John, Rae Wee, Jamie Freed, Ed Osmond, Emelia, Will Dunham, Sharon Singleton Organizations: Federal Reserve, San Francisco Fed, U.S, CPI, New, New Zealand, Thomson Locations: U.S, Wells Fargo, London, Europe, China, Norwegian, New Zealand, Singapore

☆ Norway's new phosphate deposits are so massive they could guarantee solar power and electric cars keep running for the next 50 years
▼ + stars: | 2023-07-08 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Norge Mining has discovered 77 billion tons of phosphate rock. The company's founder said it could satisfy global demand for fertilizer and EVs for 50 years. Russia is another leading producer of phosphate rock, but the war in Ukraine has disrupted trade. Norge Mining, which reportedly found the massive site in southwestern Norway in 2018, announced in May that it had discovered 77 billion tons worth of the mineral, according to The Economist. According to the OCP Group, a phosphate rock mining company, the rock is used to produce phosphorous, a key ingredient in fertilizers.

Persons: Michael Wurmser, EURACTIV, Wurmser Organizations: Mining, Service, Norge Mining, OCP, Hague, Strategic Studies, Bloomberg Locations: Russia, Ukraine, Wall, Silicon, Norway, Morocco, China, Europe

☆ Billionaire investor Ray Dalio says deep-sea exploration is no riskier than driving a car if safety standards are met
▼ + stars: | 2023-07-06 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +4 min

Deep-sea expeditions are "very safe" as long as established safety protocols are followed, Ray Dalio said. "Diving in a classed submersible is no more risky than taking a commercial flight or driving in a car," he said. The billionaire investor is the founder of nonprofit initiative OceanX, which is currently planning explorations in Norway's fjords, the Red Sea and the Indian Ocean. But billionaire investor Ray Dalio, also the founder of the nonprofit ocean exploration initiative OceanX, has pushed back against the paranoia. As author of 'Principles', a guide to his management and investment philosophy, Dalio often weighs in on financial and economic matters.

Persons: Ray Dalio, —, Hamish Harding, Dalio, OceanX, Dalio's, Mark Dalio Organizations: Service, Bridgewater Associates, OceanGate, Stockton Rush, Bridgewater, Forbes Locations: British, Azores, India, China

☆ Iberdrola, Masdar to develop $1.5 billion Baltic wind farm, Expansion reports
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

MADRID, July 5 (Reuters) - Spanish utility Iberdrola (IBE.MC) has signed an exclusive deal with Abu Dhabi's Masdar to develop a 476 megawatt (MW) offshore wind farm in German waters in the Baltic Sea, Expansion newspaper reported on Wednesday, citing unidentified market sources. The Baltic Eagle wind farm being built off Germany's northeastern coast will have 50 wind turbines and is part of Iberdrola's strategy to sell advanced renewable projects to raise cash to help finance its 47 billion euro investment plan. Masdar, a renewable energy company owned by the United Arab Emirates' sovereign wealth fund Mubadala, could buy a stake of up to 49% in the project, Expansion said. The newspaper had previously reported that the top candidates jostling for the stake were Masdar, Swiss fund EIP and Australian asset manager Macquarie's green investment arm GIG. This would be the third agreement this year between Iberdrola and a large sovereign wealth fund, having previously agreed deals with Norway's Norges Bank Investment Management (NBIM) and Singapore's GIC.

Persons: Abu Dhabi's Masdar, Iberdrola, GIC, David Latona, David Goodman Organizations: United Arab Emirates, Baltic Eagle, Norway's Norges Bank Investment Management, Thomson Locations: MADRID, Baltic, Iberdrola

[1/3] A memorial to Lord Kitchener, who died when the HMS Hampshire hit a German mine on June 5, 1916, is seen at Marwick Head on the Orkney Islands, Scotland May 3, 2014. REUTERS/Nigel Roddis/File PhotoLONDON, July 3 (Reuters) - Britain's Orkney Islands, an archipelago about 10 miles off the north coast of Scotland, is considering "alternative forms of governance" which could include becoming part of Norway, its council leader said on Monday. Orkney's historic Nordic connections give it options, Stockan believes. A row over funding for new ferries between the islands and Scotland has brought Orkney's situation to a head. Stockan wasn't clear about how Orkney's return to Norway, 250 miles across the North Sea, would work.

Persons: Lord Kitchener, Nigel Roddis, James Stockan, Stockan, Orcadians, Christian I, King of, Scotland's James III, Victoria Klesty, David Holmes Organizations: HMS Hampshire, REUTERS, Scottish, BBC Radio, Channel, England, Thomson Locations: Orkney Islands, Scotland, Orkney, Norway, Faroe Islands, Denmark, British, King of Denmark, Sweden, United Kingdom, Oslo

☆ Warholm wins 400m hurdles race hit by environmental protest in Stockholm
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +4 min

STOCKHOLM, July 2 (Reuters) - Norway's Olympic champion Karsten Warholm won the men's 400 metres hurdles in a race that was hindered by a protest from environmentalists at a rain-hit Galan Diamond League meet on Sunday. The 27-year-old double world champion, who slapped his thighs and let out a loud whoop during the introductions, ran blind in the outside lane en route to a time of 47.57 seconds. WORLD RECORD ATTEMPTThe rain wreaked havoc with numerous events, particularly the much-anticipated men's pole vault featuring local hero Armand Duplantis. He then missed on three attempts at 6.23, which would have topped his world record of 6.22. With Lamecha Girma of Ethiopia breaking the steeplechase world record last month in Paris, there could be a thrilling battle between the African pair at the worlds in Hungary.

Persons: Karsten Warholm, Galan, Warholm, Armand Duplantis, Kristjan, Daniel Stahl of Sweden, Freweyni Hailu, Hailu, Beatrice Chebet, Soufiane El, Akani, Simbine, Lori Ewing, Tommy Lund, Ken Ferris, Toby Davis Organizations: Galan Diamond League, A22 Network, TV4, NRK, Stockholm, Broadcasters, Thomson Locations: STOCKHOLM, Norwegian, Budapest, Slovenia, Soufiane El Bakkali, Morocco, Ethiopia, Paris, Hungary, South Africa, Gdansk

[1/3] Mark Walsh, CEO of Savers Value Village, celebrates his company's IPO on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. REUTERS/Brendan McDermidJune 29 (Reuters) - Thrift store operator Savers Value Village (SVV.N) fetched a market capitalization of nearly $4 billion in a strong debut on the New York Stock Exchange on Thursday, underscoring a resurgence in the IPO market as investors lap up new listings. Savers Value, owned by private equity firm Ares Management (ARES.N), joins a host of companies that have enjoyed a warm reception in recent months, reviving hopes the frosty IPO market has begun to thaw. So really this (an IPO) was the right smart option for us to move forward," said Savers Value CEO Mark Walsh. Savers Value and Ares raised over $401 million in the share sale on Wednesday.

Persons: Mark Walsh, Brendan McDermid, Avery Spear, Johnson, Ares, Niket Nishant, Sri Hari, Echo Wang, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Ares Management, U.S, U.S . Federal, Renaissance, Rivian, Kodiak Gas Services, Fidelis Insurance Holdings, Canada's Healthcare, Ontario, Norway's Norges Bank Investment Management, Thomson Locations: New York City, U.S, U.S ., Sri, Bengaluru, Echo, New York

With economic and monetary policy outlooks varying, currency moves are increasingly out of sync with each other. More pain is also anticipated for the yuan, trading near seven-month lows, as well as smaller Asian currencies. It's continuing to weaken against some European currencies and also Latin American currencies," he said. MULTI-LAYERED CRISISKit Juckes, head of FX strategy at Societe Generale, said the focus on monetary policy differences was also a result of uncertainties elsewhere. "We've got a one-in-a-100-years pandemic and once-in-75-years war and a-once-in-25-years energy crisis all thrown into the mix together," said SocGen's Juckes.

Persons: Yen, Pound, Jordan Rochester, Nomura, Lee Hardman, Hardman, Juckes, Morgan Stanley reckons, We've, SocGen's, You’ve, Dhara Ranasinghe, Alun John, John Stonestreet Organizations: The Bank of, European Central Bank, Reuters Graphics Rochester, Societe Generale, Bank of Japan, Thomson Locations: Europe, COVID, Ukraine, The Bank of Japan, United States, Beijing, Scandinavia

☆ Dollar rises as hawkish central banks cast shadow over growth outlook; dent risk sentiment
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: +3 min

Rate hike surprises and hawkish comments from central banks globally have renewed market fears that policymakers have further to go in tightening policy to tame inflation, even at the risk of tipping their economies into a recession. Norway's central bank on Thursday also stunned markets with a 50 bp rate hike and said it aimed for another hike in August. "Markets are definitely taken by surprise by the recent, more aggressive actions that some central banks had to take," said Khoon Goh, head of Asia research at ANZ. "Also putting into question the following trend of other central banks that initially looked like they've paused but went on to hike rates ... so that's something that markets are starting to become worried about again." Fed Chair Jerome Powell said on Thursday the central bank would move interest rates at a "careful pace" from here.

Persons: stoked, Sterling, Nick Bennenbroek, Khoon Goh, they've, Jerome Powell Organizations: U.S, Federal Reserve, Bank of England, U.S ., The, New, Swiss National Bank, ANZ, Reserve Bank of Australia, Bank of Canada, Fed Locations: Wells Fargo, New Zealand, Asia

☆ Central banks around the world just made borrowing costs more expensive
▼ + stars: | 2023-06-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The central banks of the UK, Turkey, Norway, and Switzerland all raised interest rates yesterday. The Bank of England is the UK's central bank. Let's start with the Bank of England's decision to raise interest rates by 50 basis points and bring borrowing costs to 5%. Turkey's central bank, meanwhile, raised interest rates by 650 basis points to 15%, which was somehow less than markets expected. Just to cover our bases: Norway's central bank raised its core lending rate by half a percentage point, and Switzerland's policymakers hiked its benchmark rate by a quarter point.

Persons: Phil Rosen, Powell, Myron Jobson, Recep Tayyip Erdogan, Spencer Platt, Jerome Powell's, Goldman Sachs, David Rosenberg, it's, Warren Buffett, Jason Ma, Nathan Rennolds Organizations: Bank of England, Bank of, Interactive, New York Stock Exchange, U.S . House, Dow, Getty, Apogee Enterprises, Homeowners, Apple, Microsoft, Nvidia, S3 Partners, BMO Capital Markets, Berkshire Hathaway, Gates Foundation Locations: Manhattan, Turkey, Norway, Switzerland, Maremagnum, Turkey's, New York City, U.S, New York, Los Angeles, London

☆ Morning Bid: Business brakes in June swoon, dollar jumps
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanJust as world stock prices raced ahead this month, broader business activity appeared to be stalling again. Equivalent Japanese and British surveys also showed sub-forecast growth and markets nervously await the U.S. version later on Friday. The dollar was the big market mover - surging into the weekend against Asia and European currencies. Inflation is falling faster, real wage growth is back positive, the jobs market is loosening slightly and housing is rebounding somewhat. So even as stock prices have come off the year's highs, the VIX (.VIX) implied volatility gauge continues to fall away - closing below 13 on Thursday for the first time since January 2020.

Persons: Mike Dolan, Jerome Powell, Wall, Powell's, Raphael Bostic, James Bullard, Loretta Mester, Jane Merriman Organizations: Asia, Federal Reserve, Bank of England, Swiss National Bank, Brent, Japan's, Swiss, Atlanta Federal Reserve, St Louis Fed, Cleveland Fed, Reuters Graphics Reuters Graphics, Thomson, Reuters Locations: U.S, Europe, Shanghai, Asia, United States

☆ Dollar rises as hawkish central banks dent risk sentiment, sterling slips
▼ + stars: | 2023-06-23 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

While higher rates are typically supportive of currencies, the risk that they will trigger an economic downturn has pushed some investors to seek safe-haven assets like the U.S. dollar. The Turkish lira slid to a record low of 25.589 against the U.S. dollar, after the Turkey's central bank 650 basis points hike to 15% on Thursday missed expectations. In other currencies, the dollar rose broadly and stood near an over seven-month high against the yen at 142.90. The euro slipped 0.04% to $1.0950, while the U.S. dollar rose 0.05% against a basket of six major peers to 102.44. "Most of the Western central banks are now more hawkish than previously projected," said Tina Teng, market analyst at CMC Markets.

Persons: stoked, Sterling, BoE, Nick Bennenbroek, Jerome Powell, Tina Teng, Rae Wee, Sam Holmes Organizations: Federal Reserve, Bank of England, U.S ., Bank of Japan, U.S, Federal, Fed, Swiss National Bank, CMC Markets, New Zealand, Thomson Locations: SINGAPORE, Wells Fargo

☆ Morning Bid: How high will BoE go?
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

After a hotter than anticipated inflation report on Wednesday, markets priced in a nearly 50% chance that the BoE would opt for a half a percentage point hike. Economists, polled by Reuters last week, unanimously expected the BoE to raise interest rates by 25 bps to 4.75%, their highest since 2008. Markets are pricing in a 72% chance of a 25 bps hike next month and then no more, according to CME FedWatch tool. Swiss National Bank and Norway's Norges Bank are also due to announce their policy decisions, with a 25 basis point hike widely expected from both central banks. Reuters GraphicsKey developments that could influence markets on Thursday:Economic events: Policy rate decision from BoE, Turkey's central bank, Swiss National Bank and Norway's Norges BankReporting by Ankur Banerjee in Singapore; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Ankur Banerjee, BoE, Jerome Powell, Powell, Hafize Gaye Erkan, Muralikumar Organizations: Ankur, Bank of England, Reuters, Federal, Swiss National Bank, Norway's Norges Bank, Thomson Locations: Europe, China, Hong Kong, Asia, Japan, Turkey's, Singapore

☆ Morning Bid: Another round of rate hikes, macro data on tap
▼ + stars: | 2023-06-22 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +2 min

Asian markets will be waking up to a jolt of central bank rate hikes and looking ahead to a big round of macro data on Friday. The Bank of England surprised many investors on Thursday by raising interest rates by a bigger-than-expected half a percentage point, lifting its main interest rate to 5%, the highest since 2008. England wasn't alone: The Swiss National Bank raised its policy rate and signaled more tightening was likely, while Norway's central bank raised its key policy rate to a 15-year high. In the U.S., Federal Reserve Chair Jerome Powell told a Congressional hearing that the central bank would move interest rates at a "careful pace" from here after pausing hikes at its last meeting. The mood could shift on Friday, as data will give a glimpse into how much central bank tightening is weighing on global growth.

Persons: Lewis Krauskopf, England wasn't, Jerome Powell, Deepa Babington Organizations: Bank of England, Swiss National Bank, Reuters Graphics Reuters, Nasdaq, U.S, Global, Japan CPI, Singapore CPI, Reuters, Thomson Locations: Lewis, U.S, England, Europe, United States, Japan, Malaysia, Singapore

☆ Morning Bid: Dogged central banks rein in risk
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +4 min

Markets have been here before over the past year - continually underestimating the economy's resilience and Fed's trajectory. There was far less ambiguity in moves from Europe's central banks on Thursday. The Swiss National Bank raised rates by 25bp earlier, as expected, but also left the door open for more tightening. And Norway's central bank surprised with an aggressive 50bp rise to a 15-year high of 3.75% and signaled another move in August. In the emerging market world, Turkey was expected to more than double its 8.5% interest rate in a post-election macroeconomic policy reset.

Persons: Mike Dolan, Jerome Powell, Powell, Raphael Bostic, BoE, Britain's, Christopher Waller, Michelle Bowman, Loretta Mester, Thomas Barkin, Elaine Hardcastle Organizations: Federal, Financial, Fed, Atlanta Fed, Yahoo Finance, Bank of England, Swiss National Bank, Treasury, The Times, Bank of, U.S, Kansas City Federal, Chicago Fed, Cleveland Fed, Richmond Fed, Accenture, Darden, Graphics Reuters, Reuters, Thomson Locations: U.S, Britain, Europe's, Turkey, Mexico

☆ Norway central bank raises rate to 15-year high, with more to come
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: +2 min

The facade of Norway's central bank, also known as Norges Bank, in Oslo, Norway. The central bank predicted the policy rate would rise to 4.25% during the autumn. "If we do not raise the policy rate, prices and wages could continue to rise rapidly and inflation become entrenched," Norges Bank Governor Ida Wolden Bache said in a statement. "Today's hawkish decision shows that Norges Bank means business and is concerned about inflation becoming entrenched," analysts at Nordea said in a note to clients. The hike raises the policy rate to its highest level since the outbreak of the global financial crisis of 2008.

Persons: Norges Bank Governor Ida Wolden Bache, Nordea Organizations: Norges Bank, Reuters, Norges Bank Governor, Bank, European Central Bank, U.S . Federal Reserve Locations: Oslo, Norway, Norway's, U.S

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