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☆ IMF chief warns of emerging market risk with high U.S. interest rates
▼ + stars: | 2024-04-30 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a briefing on the Global Policy Agenda at IMF headquarters during the IMF/World Bank Spring Meetings in Washington, DC on April 18, 2024. Kristalina Georgieva, the managing director of the International Monetary Fund, played down the prospect of any negative impact from a monetary policy divergence between Europe and the U.S., but said issues could be more acute in emerging markets. The benchmark rates of most advanced economies soared in recent years, as central banks aimed to tame inflation following the Covid-19 pandemic. A high U.S. interest rate environment is traditionally bad news for emerging markets, as it makes their debts — often priced in U.S. dollars — more expensive. "It is a much more serious issue for countries where the impact of high interest rates in the United States are more profound — in many emerging market economies," Georgieva told CNBC's Silvia Amaro in Brussels on Monday.

Persons: Kristalina Georgieva, Georgieva, CNBC's Silvia Amaro Organizations: Monetary Fund, IMF, International Monetary Fund Locations: Washington , DC, Europe, U.S, United States, Brussels, Japan

☆ IMF chief concerned about the prospect of central banks diverging on rate cuts
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIMF chief concerned about the prospect of central banks diverging on rate cutsKristalina Georgieva, managing director of the International Monetary Fund, discusses the outlook for economic growth in Europe and reflects on the prospect of major central banks diverging on monetary policy.

Organizations: IMF, International Monetary Fund Locations: Europe

☆ Trump’s first trial, Ukraine aid and other surprises from a major news week
▼ + stars: | 2024-04-20 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

House Speaker Mike Johnson arrives to speak with reporters to discuss his proposal of sending aid to Ukraine, Israel and Taiwan on April 17, 2024. Johnson, although a bona fide conservative and a skeptic at times of Ukraine aid, is finally on the cusp of getting the vote done in the House. This week, Iran responded to Israel’s strike on a Syrian diplomatic facility with its own strikes, which Israel responded to on Friday with a strike on Iran. Joe Biden is running hardWith all the Trump trial coverage, you might have missed that President Joe Biden is running a spirited presidential campaign. While Trump is spending most days at his trial, Biden is going all over the map.

Persons: Trump’s, you’ve, Donald Trump, Trump, Mike Johnson’s, Marjorie Taylor Greene, Thomas Massie of Kentucky, Paul Gosar, Arizona –, Johnson, Mike Johnson, J, Scott Applewhite, he’ll, It’s, Israel, Here’s Tamara Qiblawi, CNN’s Nic Robertson, Read, Joe Biden, Biden, Andrew CAballero, Reynolds, Pierre, Olivier Gourinchas Organizations: CNN, Trump, –, GOP, White, Getty, Monetary Fund, Federal Reserve Locations: Antarctica, New York, Ukraine, Israel, Taiwan, Johnson, Marjorie Taylor Greene of Georgia, Arizona, Iran, Syrian, CNN’s, Damascus, Qiblawi, Philadelphia, Wawa, Pittsburgh, Pennsylvania, AFP, Europe

☆ IMF's Azour: Middle East going through severe developments
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIMF's Azour: Middle East going through severe developmentsJihad Azour, director of the Middle East and Central Asia Department at the IMF, speaks to CNBC's Karen Tso.

Persons: Karen Tso Organizations: Central Asia Department, IMF Locations: East

☆ IMF's Srinivasan: Inherent dynamism in APAC region
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIMF's Srinivasan: Inherent dynamism in APAC regionKrishna Srinivasan, IMF's director of the Asia and Pacific department, speaks to CNBC's Karen Tso.

Persons: IMF's Srinivasan, Krishna Srinivasan, Karen Tso Locations: Asia, Pacific

☆ German cars are the best in the world, its finance minister insists: 'They do not have to fear Chinese competition'
▼ + stars: | 2024-04-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Christian Lindner (FDP), Federal Minister of Finance, is on his way to a bilateral meeting with US Treasury Secretary Yellen at the headquarters of the World Bank. Bernd von Jutrczenka | Picture Alliance | Getty ImagesGerman carmakers do not have to fear competition from China and are still considered the best in the world, German Finance Minister Christian Lindner told CNBC. "German car manufacturers are world leading, they do not have to fear Chinese competition," Lindner said. Competition in the electric vehicle, or EV, market in China and Europe, as well as the U.S., has been heating up in recent months. This came ahead of Scholz's visit to China earlier this month, during which he warned against unfair competitive and trade practices.

Persons: Christian Lindner, Yellen, Bernd von Jutrczenka, CNBC's Karen Tso, Lindner, China's BYD, Tesla, Janet Yellen, Ursula von der, Wang Wentao, Olaf Scholz Organizations: Federal, of Finance, US, World Bank, Getty, German, CNBC, Washington , D.C, European Union . U.S, Treasury, European Commission, European Union, Commerce, EV, Reuters Locations: China, Washington ,, Europe, U.S, EVs, EU

☆ What stalled this year’s seemingly infallible stock market rally
▼ + stars: | 2024-04-19 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Investors had hoped that corporate earnings would help revive the stalled rally, but a strong start to the season hasn’t been enough to excite investors. The 30-year fixed-rate mortgage averaged 7.10% in the week ending April 18, up from 6.88% the previous week, according to Freddie Mac data released Thursday. Mortgage rates are climbing based on expectations that the Federal Reserve won’t cut interest rates anytime soon. The Fed doesn’t directly set mortgage rates, but its actions do influence them, and persistently hot inflation readings are keeping the Fed on hold. If inflation stalls any further, or even worsens, mortgage rates could climb higher this year.

Persons: —, hasn’t, Jerome Powell, “, ”, Michael Landsberg, Pierre, Olivier Gourinchas, Israel, Brent, Bryan Mena, Freddie Mac, Sam Khater, Freddie Mac’s, Read, Anna Cooban, Tim Cook, Pham Minh Chinh, Cook, Apple “ Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Federal Reserve, Data, Employers, Fed, Landsberg Bennett, Wealth Management, Monetary Fund, Treasury, Investors, CNN, Federal, China Apple, Vietnamese, Apple Locations: New York, East, Iran, Israel, Syria, Vietnam, China, Hanoi, Beijing

☆ Malaysia is unfazed by China, U.S. semiconductor competition, minister says
▼ + stars: | 2024-04-18 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

KUALA LUMPUR, MALAYSIA - 2018/01/24: A foreigner is seen with a Malaysia flag as a background. Kuala Lumpur or commonly known as KL is the national capital for Malaysia and is the fastest growing metropolitan regions in South-East Asia. (Photo by Faris Hadziq/SOPA Images/LightRocket via Getty Images)Malaysia isn't fazed about competition from China or the U.S. as it pushes into higher-end semiconductor manufacturing, according to the country's second finance minister. "We're seeing a lot of end users now diversifying their supply chain. Our focus, actually, is to provide a very vibrant, strong supply chain connectivity, and make sure that we ride on that."

Persons: Faris Hadziq, Amir Hamzah Azizan, Karen Tso, Amir Hamzah Organizations: Getty Images Locations: KUALA LUMPUR, MALAYSIA, Malaysia, Kuala Lumpur, South, East Asia, China, Washington

☆ ECB policymaker says he's expecting 'about three' interest rate cuts this year
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB policymaker says he's expecting 'about three' interest rate cuts this yearGediminas Šimkus , governor of the Bank of Lithuania and ECB policymaker, joins Karen Tso from the IMF Spring Meetings to discuss the rate cuts he expects this year.

Persons: he's, Gediminas Šimkus, Karen Tso Organizations: ECB, Bank of Lithuania, ECB policymaker

☆ Watch CNBC's full interview with the German finance minister
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with the German finance ministerChristian Lindner, the finance minister of Germany, speaks to CNBC's Karen Tso at the IMF Spring Meetings in Washington, D.C.

Persons: Christian Lindner, Karen Tso Locations: Germany, Washington ,

☆ High company valuations a 'worry,' IMF's capital markets chief says
▼ + stars: | 2024-04-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

High corporate valuations could pose a significant risk to financial stability as market optimism becomes untethered from fundamentals, the IMF's director of the Monetary and Capital Markets Department said Tuesday. Financial markets have been on a tear for much of this year, buoyed by falling inflation and hopes of forthcoming interest rate cuts. But that "optimism" has stretched company valuations to a point where that could become vulnerable to an economic shock, Tobias Adrian said. "We do worry in some segments where valuations have become quite stretched," Adrian told CNBC's Karen Tso Tuesday. Adrian, who was speaking on the side lines of the IMF's Spring Meeting in Washington, said that credit markets were a particular area of concern.

Persons: Tobias Adrian, Adrian, Karen Tso Organizations: Monetary, Capital Markets, International Monetary Fund, World Bank Group, Washington DC, Capital Markets Department, Financial Locations: Washington, United States

☆ Watch CNBC's full interview with the Brazilian central bank governor
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with the Brazilian central bank governorRoberto Campos Neto, governor of the Central Bank of Brazil, speaks to CNBC's Karen Tso at the IMF Spring Meetings in Washington, D.C.

Persons: Roberto Campos Neto, Karen Tso Organizations: Central Bank of Locations: Brazilian, Central Bank of Brazil, Washington ,

☆ America’s debt problem could spell higher interest rates in the rest of the world
▼ + stars: | 2024-04-17 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

The IMF said Wednesday that increased government spending, growing public debt and elevated interest rates in the United States had contributed to high and volatile yields — or interest rates — on Treasuries, raising the risk of higher rates elsewhere. “Loose fiscal policy in the United States exerts upward pressure on global interest rates and the dollar,” Vitor Gaspar, director of the IMF’s fiscal affairs department, told reporters. Higher interest rates make it more costly for households and businesses to service their loans, which can lead to defaults that cause losses at banks and other lenders, increasing financial instability. That means that even if the Fed cuts interest rates later this year — the IMF’s central scenario — US government funding costs may not fall by the same margin, he added. The IMF expects US public debt to continue rising, helping drive government debt worldwide to close to 100% of global gross domestic product by 2029, from 93% last year.

Persons: ” Vitor Gaspar, ”, Jerome Powell, ” Tobias Adrian, Gaspar, Pierre, Olivier Gourinchas, That’s Organizations: London CNN, International Monetary Fund, IMF, Federal Reserve, Treasury Department, Treasury, US, Federal Locations: United States, Washington

☆ Russia is expected to grow faster than all advanced economies this year
▼ + stars: | 2024-04-17 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesRussia's economy is expected to grow faster than all advanced economies this year, according to the International Monetary Fund. The prediction will be galling for Western nations which have sought to economically isolate and punish Russia for its 2022 invasion of Ukraine. In short, Russia has adapted to a "new normal" as its economy has been put on a war footing. The Washington-based IMF includes the U.S., U.K., the euro area's largest economies, Canada and Japan as advanced economies. "If you look at Russia, today, production goes up, [for the] military, [and] consumption goes down.

Persons: Vladimir Putin, Uralvagonzavod, Ramil Sitdikov, Kristalina Georgieva, CNBC's Dan Murphy, Georgieva, Elvira Nabiullina, Andrey Rudakov Organizations: Evraz Consolidated, Siberian Metallurgical, Bloomberg, Getty, International Monetary Fund, U.S, Sputnik, Afp, IMF, TU, CNBC, World Governments, Bank of Russia, Duma Locations: Evraz Consolidated West, Novokuznetsk, Russia, Germany, France, Ukraine, India, China, Russian, Urals, Nizhny Tagil, Washington, Canada, Japan, Europe, Asia, Kazan, Dubai, Soviet Union, Russia's

☆ Watch CNBC's full interview with German central bank chief Joachim Nagel
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with German central bank chief Joachim NagelEuropean Central Bank policymaker Joachim Nagel speaks to CNBC’s Karen Tso at the IMF Spring Meetings taking place in Washington, D.C.

Persons: Joachim Nagel, Joachim Nagel European Central Bank policymaker Joachim Nagel, Karen Tso Organizations: Joachim Nagel European Central Bank Locations: Washington ,

☆ Fiscal policy must stay the course to manage rising debt, IMF's Gaspar says
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFiscal policy must stay the course to manage rising debt, IMF's Gaspar saysVitor Gaspar, director of the IMF's fiscal affairs department, discusses the importance of fiscal and monetary policy working in tandem to tackle inflation.

Persons: IMF's Gaspar, Vitor Gaspar

☆ Risk of a global recession is minimal, IMF economist says — would take 'a lot to derail'
▼ + stars: | 2024-04-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

"When we do the risk assessment around that baseline, the chances that we would have something like a global recession is fairly minimal. The Washington DC-based institute this week nudged its global growth outlook slightly higher to 3.2% in 2024 and projects the same rate in 2025. One of the International Monetary Fund's top economists signals little risk of a global recession, despite the ongoing rumblings of geopolitical uncertainty. That has all combined with the ongoing Russia-Ukraine war, which had its biggest wider impact on energy prices in Europe in 2022. And that's one of the big risks that we do see, the implications that could have for oil prices could be substantial.

Persons: Gourinchas, Pierre, Olivier Gourinchas, Karen Tso, Gita Gopinath, we're Organizations: U.S, IMF, Washington DC, International Monetary, Palestinian, Hamas, CNBC Locations: Europe, New York, Germany, France, Italy, Spain, Portugal, Belgium, Gaza, Red, Yemeni, Russia, Ukraine, Asia, Israel, Iran

☆ Bank of Korea chief says won volatility is a little 'excessive' and will intervene if needed
▼ + stars: | 2024-04-17 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

The Bank of Korea will intervene to control currency volatility if needed, the central bank's chief told CNBC, describing the recent market fluctuations as a little "excessive." Central bank governor Rhee Chang-yong said external factors are fueling the Korean won 's movement. Rhee attributed the won's weakness to the strength of the U.S. dollar as well as geopolitical tensions in the Middle East. Weakness in other Asian currencies like the Japanese yen and Chinese yuan are also affecting the won, he added. The won strengthened on Wednesday to as high as 1,382.6 per dollar, up 1.26% after hitting a 17-month low and breaching a major threshold of 1,400 per dollar on Tuesday.

Persons: Rhee Chang, CNBC's Karen Tso, Rhee Organizations: Bank, CNBC, Korean, U.S Locations: Korea, Washington

☆ Russia will grow faster than the US and all other advanced economies this year, the IMF says
▼ + stars: | 2024-04-17 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +1 min

Russia's economy is predicted to grow by 3.2% in 2024, outpacing all advanced economies, including the US, the IMF said. Despite the war, high investment and robust private consumption have driven Russia's economy forward. The IMF expects the momentum to fade in 2025, with Russia growing at a rate of 1.8%. AdvertisementRussia's economy is expected to grow significantly faster than major developed economies this year, including the US, according to the International Monetary Fund. The country's war-time economy is forecast to grow by 3.2% in 2024, largely outpacing expected growth for other advanced economies including the US (2.7%), Germany (0.2%), the UK (0.5%), and Japan (0.9%), IMF said in a report published on Tuesday.

Persons: — Organizations: IMF, Service, International Monetary Fund, Business Locations: Russia, Germany, Japan

Alex Kraus | Bloomberg | Getty ImagesEuropean Central Bank policymaker Joachim Nagel said Wednesday that a rate cut for the institution looks increasingly likely for June, but added that certain parts of the incoming inflation data still look higher than desired. watch nowEarlier Wednesday, Mario Centeno, governor of Portugal's central bank, said it was "about time to change this monetary policy cycle." The ECB's June interest rate decision would be "very important," he said. Markets are widely pricing in the first rate cut from the ECB to take place in June. watch nowEarlier this week, ECB President Christine Lagarde said that unless there were any major shocks, the ECB was on track to cut interest rates soon.

Persons: Joachim Nagel, Alex Kraus, Central Bank policymaker Joachim Nagel, Germany's Bundesbank, Karen Tso, " Nagel, —, Mario Centeno, CNBC's Tso, Christine Lagarde, disinflation, CNBC's Sara Eisen, Robert Holzmann, Holzmann, wasn't Organizations: Deutsche Bundesbank, Bloomberg Television, Bloomberg, Getty, Central Bank, ECB Locations: Frankfurt, Germany, Washington ,, Europe, Portugal's, Austrian, East

☆ Lagarde says ECB will cut rates soon, barring any major surprises; notes 'extremely attentive' to oil
▼ + stars: | 2024-04-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

European Central Bank President Christine Lagarde on Tuesday said the central bank remains on course to cut interest rates in the near term, subject to any major shocks. Lagarde said the ECB would monitor oil prices "very closely" amid elevated fears of a spillover conflict in the Middle East. However, since Iran's unprecedented air attack on Israel over the weekend, she said the oil price reaction had been "relatively moderate." Her comments come shortly after the central bank gave its clearest indication to date that it could start cutting interest rates during its June meeting. The ECB on Thursday held interest rates steady at a record high for the fifth consecutive meeting, but signaled that cooling inflation means it could begin trimming soon.

Persons: Christine Lagarde, Lagarde, CNBC's Sara Eisen Organizations: European Central Bank, ECB Locations: Israel

☆ IMF's Gourinchas: See Fed cutting three times in 2024
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIMF's Gourinchas: See Fed cutting three times in 2024Pierre-Olivier Gourinchas, economic counsellor and director of the Research Department at the IMF, weighs in on the fund's global outlook on growth and inflation, and why economies are beginning to see such divergence.

Persons: Pierre, Olivier Gourinchas Organizations: Research Department, IMF

☆ Stock market today: US futures tread water as Wall Street remains cautious
▼ + stars: | 2024-04-16 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS futures were little changed on Tuesday morning after a losing start to the week for all three major indices on Monday as investors worried about the Israel-Iran conflict. Nasdaq 100 futures were also level, while Dow Jones Industrial Average futures fell 0.1%. The combination of solid retail sales data and the risk-off nature of the Israel-Iran conflict saw yields on treasuries advance three basis points the previous day. Elsewhere, the release of strong March retail sales data on Monday signaled the resilience of the US economy, but also pushed back chances that the Fed will cut interest rates in June.

Persons: Morgan Stanley, —, Jerome Powell, Philip Jefferson, Johnson Organizations: Bank of America, Service, Nasdaq, Dow Jones Industrial, Dow, Treasury, Federal, IMF, United Health, Johnson Locations: Israel, Iran

☆ Structural changes are needed to get the economy growing again, says South Africa central bank head
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStructural changes are needed to get the economy growing again, says South Africa central bank headSpeaking to CNBC's Karen Tso at the IMF Spring Meetings, Lesetja Kganyago, governor of the Reserve Bank of South Africa, discusses his country's economy and what's needed to improve the growth and inflation picture.

Persons: Karen Tso, Lesetja Kganyago Organizations: Reserve Bank of Locations: South Africa, Reserve Bank of South Africa

☆ US economy: IMF raises growth forecast and urges caution on rate cuts
▼ + stars: | 2024-04-16 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

The IMF upgraded Tuesday its forecast for US economic growth to 2.7% this year — 0.6 percentage points higher than it predicted as recently as January. The Washington-based IMF expects the 20 countries that use the euro to grow just 0.8% this year, a downgrade of 0.1 percentage points from its January forecast. The global economy, meanwhile, is seen expanding by 3.2%, 0.1 percentage points more than predicted in January. China’s economy, the second-largest in the world, is forecast to grow 4.6%, while India is expected to notch growth of 6.8%. In contrast to the United States, “there is little evidence of overheating” in the euro area, according to Gourinchas.

Persons: Pierre, Olivier Gourinchas, ”, Gourinchas, it’s, …, ” Gourinchas, “ Organizations: London CNN, International Monetary Fund, IMF, Federal Reserve, UBS, European Central Bank, Reuters Locations: United States, Washington, China’s, India, Europe, China

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