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☆ Australia's top central banker apologises for past rate guidance
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

Instead, the economy recovered from pandemic lockdowns much faster than expected and combined with global events to push inflation to 32-year highs. Lowe said it was clear that the public "didn't get the caveats" on his guidance and that the bank would not use such wording in future. "At the time I thought that was the right thing to do," Lowe said. Payments on an average floating rate mortgage will increase by about A$950 a month because of the rate increases delivered so far, and markets expect a further rate increase to 3.1% next week. "We have confidence in Dr Lowe and his position as the head of the Reserve Bank," Albanese said.

☆ ECB's Lane plays down wage, core inflation fears
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Nov 25 (Reuters) - Euro zone wage growth could keep pushing up inflation for years but this does not signal a permanent shift in wage dynamics and current indicators underlying inflation may be misleading, European Central Bank chief economist Philip Lane said on Friday. "This means that, even after energy and pandemic factors fade out of inflation measures, wage inflation will be a primary driver of price inflation over the next several years." Still, this a time-limited catch-up and should not be misinterpreted to signal a more permanent shift in wage dynamics, Lane wrote. "The current values of these measures may overstate the medium-term persistent component of inflation in this highly atypical environment," Lane said. "It is unlikely that the standard measures of underlying inflation are sending the same signals about the likely persistence of inflation dynamics than under more standard macroeconomic conditions," he added.

Market betting has been swinging between a 50- and a 75- basis-point increase when policymakers meet on Dec. 15. "It's extremely exciting but predicting the ECB for a market participant has become impossible," Carsten Brzeski, global head of macro at ING, said. That saves it from more painful changes of tack after ECB President Christine Lagarde went from all but ruling-out rate hikes this year to presiding over the steepest tightening cycle in the euro's history. But Lane said in a blog post on Friday it may "overstate" how persistent inflation may be. "Inflation is being driven by factors they can't control," he added, citing energy prices, geopolitical tensions and supply-chain disruptions as some of them.

☆ Asia-Pacific stocks rise ahead of New Zealand rate decision, Fed minutes
▼ + stars: | 2022-11-23 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

A pedestrians walks past the Reserve Bank of New Zealand headquarters in on Thursday, Aug. 9, 2018. New Zealand's central bank raised interest rates by 50 basis points to 2.0% on Wednesday, its fifth rate hike in a row as it seeks to get on top of inflation and signaled the cash rate would peak at a higher level than previously forecast. Shares in the Asia-Pacific rose Wednesday ahead of several economic data releases in the Asia-Pacific. New Zealand's central bank is expected to deliver a 75 basis point hike, according to a Reuters poll. The S&P/ASX 200 was up 0.87% despite the Reserve Bank of Australia governor Philip Lowe on Tuesday hinting at more rate hikes ahead.

☆ ECB set to raise deposit rate 50 bps as euro zone enters recession -economists
▼ + stars: | 2022-11-22 | by ( Jonathan Cable | Leigh Thomas | ) www.reuters.com time to read: +3 min

It will lift its deposit rate by another 50 bps on Dec. 15, taking it to 2.00%, and do the same to the refinancing rate, putting it at 2.50%, according to the median forecasts in the Nov. 15-21 Reuters poll. That deposit rate view was held by a majority of 45 of 62 respondents, while 14 said it would add another 75 bps as it has done at its previous two meetings. When asked about the risks to their deposit rate forecasts, 18 of 22 economists said it would end higher, either earlier of later than they expect. However, collectively economists gave a 70% probability their deposit rate peak forecasts were accurate. GDP was predicted to fall 0.4% this quarter and in the first quarter of next year, meeting the technical definition of recession.

☆ Asia-Pacific markets mixed as investors weigh risks
▼ + stars: | 2022-11-22 | by ( Abigail Ng | ) www.cnbc.com time to read: 1 min

People walk past the Tokyo Stock Exchange (TSE) on October 01, 2020 in Tokyo, Japan. Shares in the Asia-Pacific were set to rise on Tuesday as investors weigh risks. In Australia, the S&P/ASX 200 rose 0.5% ahead of central bank governor Philip Lowe's speech at the Committee for Economic Development of Australia. The Kospi and the Kosdaq in South Korea each fell 0.34%. MSCI's broadest index of Asia-Pacific shares outside Japan was about flat.

☆ Australia's central bank to limit forward guidance on interest rates
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Nov 15 (Reuters) - Australia's central bank intends to limit its use of forward guidance on policy after its usage during the pandemic drew criticism when rates were raised much earlier than previously envisaged. In a report published on Tuesday, the Reserve Bank of Australia (RBA) said forward guidance would now be more qualitative in nature and would not always contain an outlook for interest rates. Guidance would be flexible and conditional on meeting the RBA's targets for unemployment and inflation, and would not include other factors such as wages. The RBA Board would continue to publish forecasts on the economy but would not provide its own forecasts for interest rates. Our Standards: The Thomson Reuters Trust Principles.

SYDNEY, Nov 1 (Reuters) - Australia's central bank on Tuesday stuck with a slower pace of interest rate rises for a second month while revising up its inflation outlook, saying more rate hikes would be needed as it struggles to keep the economy afloat while battling inflation. Reuters Graphics"The Reserve Bank has indicated a preference for 'normal' 25 basis point rate hikes," said Craig James, chief economist at CommSec. CLOUDY OUTLOOKThe RBA was the first central bank among developed nations to break with outsized interest rate hikes, warning that households were already under pressure with rate rises so far. The Bank of Canada slowed its pace of rate hikes, saying it was getting closer to the end of its historic tightening campaign. The European Central Bank, while hiking rates as expected, sounded a cautious note on the outlook.

☆ Dollar eases on improved risk sentiment before Fed; Aussie pares gains after RBA
▼ + stars: | 2022-11-01 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

"Our general sense is that the dollar probably has peaked, but that doesn't necessarily mean it's coming down." The Aussie gained 0.3% to $0.6416, but was off earlier highs after the RBA opted for another 25-bp hike. The Fed is widely expected to raise its benchmark rate by 75 bps on Wednesday, its fourth such increase in a row. But for the December meeting, Fed funds futures are split on the odds of a 75- or 50-bps increase. read moreReporting by Kevin Buckland; Editing by Ana Nicolaci da CostaOur Standards: The Thomson Reuters Trust Principles.

☆ Australia's central bank raises rates by 25 bp as expected
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Nov 1 (Reuters) - Australia's central bank on Tuesday raised the interest rate by 25 basis points for a second straight month while revising up its inflation outlook, saying that more tightening will be needed ahead. It had surprised many in the markets last month by downshifting to a quarter-point rate hike, following four consecutive moves of 50 basis points, citing an already substantial rise in rates. "The Board expects to increase interest rates further over the period ahead. "The Board recognises that monetary policy operates with a lag and that the full effect of the increase in interest rates is yet to be felt in mortgage payments." The local dollar edged 30 ticks lower after the rate decision, while markets have reduced the expected peak for cash rates to around 3.9%.

☆ Take Five: It's rate hike central
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +5 min

LONDON, Oct 28 (Reuters) - It's rate hike central with monetary policy meetings in the United States, Britain, Australia and Norway in the week ahead. Graphics by Vincent Flasseur and Sumanta Sen.1/ FOUR IN A ROWA fourth straight jumbo 75-basis point (bps) interest rate hike is widely expected when the Federal Reserve meets on Nov 1-2. Fed chair Jerome Powell has come under political pressure to be careful of putting U.S. jobs at risk by tightening policy too much. Inflation in the bloc hit 10.7%, accelerating from 9.9% last month and dashing hopes that peak inflation could be near. The European Central Bank just delivered its second 75 bps rate increase to control price pressures.

☆ Take Five: It's rate-hike central
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +4 min

LONDON, Oct 28 (Reuters) - It's rate-hike central with monetary policy meetings in the United States, Britain, Australia and Norway in the week ahead. Fed chair Jerome Powell has come under political pressure to be careful of putting U.S. jobs at risk by tightening policy too much. A consequential week for markets also includes Friday's October U.S. payrolls report, with economists polled by Reuters forecasting the economy created 200,000 new jobs. Inflation in the bloc is running at almost 10% and the European Central Bank just delivered its second 75 bps rate increase to control price pressures. Like other big central banks, the ECB is hoping for signs that peak inflation is coming.

☆ The US never banned asbestos. These workers are paying the price.
▼ + stars: | 2022-10-23 | by ( Kathleen Mcgrory | Neil Bedi | ) www.businessinsider.com time to read: +39 min

But protocols failed to match reality at the Niagara Falls plant, according to more than a dozen workers. In addition to those signature diseases, which are rare even among asbestos workers, the tiny strands can harm the body in other ways. In the 15 years that followed, congressional attempts to ban asbestos would continue to fall short. OSHA declined to make an official available for an on-the-record interview or comment on ProPublica's findings at the Niagara Falls plant. At the OxyChem plant in Wichita, union president Keith Peacock said he was comfortable with the way asbestos was handled.

☆ New Guidelines Could Signal Tougher Approach From Foreign Investment Review Body
▼ + stars: | 2022-10-20 | by ( Richard Vanderford | ) www.wsj.com time to read: +3 min

The enforcement guidelines issued Thursday are a first for the Committee on Foreign Investment in the U.S., or Cfius, which previously had no written guidelines on the topic. The new guidelines provide more specifics on how Cfius might use that enforcement power and came with a caution for businesses. The guidelines said Cfius would also look at the harm the conduct caused and whether it was negligent or deliberate. In deciding on penalties, Cfius would take into account violators’ compliance resources—legal counsel, consultants, auditors and monitors—as well as its compliance culture. The Foreign Investment Risk Review Modernization Act, passed in 2018 with an eye on China, gave Cfius more resources and a broader purview.

☆ Morning Bid: In Hunt we Truss
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

While insisting Truss, who is fighting to keep her job, is indeed in charge, Hunt catalogued the mistakes made in the past few weeks and signalled that tighter spending controls and some tax rises are on the way. Register now for FREE unlimited access to Reuters.com Register"I think what the country wants now is stability." Monday will test all sides in the UK gilt markets now that the central bank's emergency bond-buying programme has concluded. Hunt has already spoken to the Bank of England Governor Andrew Bailey, agreeing on the need to repair the public finances. Sterling has nudged higher after Truss reversed some of her government's economic plan, not long after she sacked Kwasi Kwarteng as finance minister.

☆ Morning Bid: Burning bridges
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Tom WestbrookBarely Tuesday and markets and the world seem to be sweeping unnervingly past points of no easy return. Register now for FREE unlimited access to Reuters.com RegisterNuclear-armed North Korea says it has no interest in talks or dialogue and has fired seven test missiles since Sept. 25, apparently in simulation of the destruction of the south. Meanwhile Britain's attempts at mending fences with markets over fiscal spending plans are faring badly. The Bank of England doubled its bond buying caps as its emergency gilt market support programme nears its end on Friday. Finance minister Kwasi Kwarteng promised to reveal some details of longer-term tax and spending plans at the end of the month.

☆ Morning Bid: British bond burn
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +5 min

read moreAhead of the open, 10-year U.S. Treasury yields were again flirting with the year's highs above 4% and global stocks (.MIWD00000PUS) were heading for new 2022 lows. Key developments that should provide more direction to U.S. markets later on Tuesday:* U.S. Sept NFIB small business index. * International Monetary Fund publishes World Economic Outlook and Global Financial Stability Report at annual IMF/World Bank meeting in Washington. * Bank of England Governor Andrew Bailey, BoE deputy governor Jon Cunliffe, Swiss National Bank chief Thomas Jordan, European Central Bank chief economist Philip Lane, ECB board member Fabio Panetta, ECB bank supervisor Andrea Enria speak in United States. Long Gilt Yields SoarRegister now for FREE unlimited access to Reuters.com RegisterBy Mike Dolan, editing by Ed Osmond, <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

☆ Morning Bid: Dollar feeds on stress
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +3 min

And as a fourth 75 basis-point Fed rate hike is now fully priced yet again, the dollar's DXY index climbed again - and traders started to eye year-end trading stress too. read more read moreWith last week's warning from Advanced Micro Devices (AMD.O) and Micron Technology (MU.O) ringing in the ears, the chip sector shivered into the new week. The measures could amount to the biggest shift in U.S. policy on exporting technology to China since the 1990s. Returning after a week of closures, the broad Shanghai stock index was down 1.6%, Hong Kong was down almost 3% and the offshore yuan weakened against the dollar. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Chorus of international agencies are calling on central banks to please stop raising rates
▼ + stars: | 2022-10-04 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

The clamor from international agencies demanding that central banks stop raising interest rates is suddenly getting louder. The United Nations Conference on Trade and Development (UNCTAD) is out with its annual report on the global economic outlook . It's filled with dire warnings that central banks are going to throw the world into a massive global recession if they keep raising rates. Is this a sign central banks are listening? "This is the last chance they [central banks] have to maintain credibility, " Komal Sri-Kumar, President at Sri-Kumar Global Strategies, said on CNBC's " Squawk Box " this morning.

☆ Going above neutral in interest rates may very well be in the cards, says ECB chief economist
▼ + stars: | 2022-09-29 | 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 EmailGoing above neutral in interest rates may very well be in the cards, says ECB chief economistPhilip Lane, former Central Bank of Ireland governor and European Central Bank chief economist, joins 'Squawk on the Street' to discuss if the ECB is worried about market functioning and liquidity, if raising rates in Europe could cause markets to 'break' and guidance into the ECB's future moves.

☆ Morning Bid: Dysfunction and intervention
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +5 min

Amid all the chaos in British bond markets, the forced intervention by the Bank of England to buy gilts has given some investors a crumb of comfort about the limits of central bank tightening. Cold comfort maybe, but enough to drag bond yields back and lift stocks briefly around the world. While 30-year gilt yields steadied just below 4% on Thursday after their 100bp swoon the previous day, the pound was sliding again and UK midcap stocks dropped. read moreEasing inflation in Spain was better news read more . Market leader Inditex (ITX.MC), the owner of Zara, slipped 2.2%, while the wider STOXX retailers index <.SXRP> slid 4.3%.

☆ Australia's central bank says hikes could slow at some point
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

Pedestrians walk past the main entrance to the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, October 3, 2016. REUTERS/David Gray/File PhotoSYDNEY, Sept 20 (Reuters) - Australia's central bank is set on raising interest rates again as it battles to contain red-hot inflation, but sees a case for slowing the pace of hikes as rates approached more normal levels. Minutes of the Reserve Bank of Australia's (RBA) September Board meeting out on Tuesday reiterated that policy was not on a pre-set path and would be balanced to try and keep the economy on an even keel. RBA Governor Philip Lowe has flagged the chance of a slowdown in hikes at some point, but also underlined the importance in a very tight labour market of keeping inflation expectations anchored. He also looks for quarter-point hikes in November, December and February taking rates to a peak of 3.6%.

☆ Reserve Bank of Australia Raises Rates, Signals More to Come
▼ + stars: | 2022-08-23 | by ( James Glynn | ) www.wsj.com time to read: 1 min

SYDNEY—The Reserve Bank of Australia delivered a ninth consecutive increase in interest rates and signaled more to come, suggesting global central banks are headed down different paths as their battle with inflation enters a new phase. The latest increase of 0.25 percentage point took Australia’s benchmark interest rate to 3.35% from 3.10% and marked the first time that the RBA had tightened policy at nine straight meetings of its board. Explaining the move, RBA Gov. Philip Lowe said inflation was at its highest level in more than three decades.

Imaginea alb-negru îl prezintă pe Charles în decembrie 1982, privindu-şi fiul de şase luni, în timp ce îl ţine în poală. Prinţul William Arthur Philip Louis de Wales s-a născut la St Mary's Hospital, Paddington, pe 21 iunie 1982, la ora 9.03 PM. La doar nouă luni, William şi-a însoţit părinţii timp de şase săptămâni într-o vizită oficială în Australia şi Noua Zeelandă. William a cunoscut-o pe actuala sa soţie, Kate Middleton, la Universitatea St Andrews din Scoţia, iar cei doi s-au căsătorit în 2011, după peste opt ani de relaţie. Cuplul are în prezent trei copii: George, născut în 2013, Charlotte, născută în 2015, şi Louis, născut în 2018.

Persons: Charles, ducesa de, iniţiativa, Harry, de Cambridge, William, Prinţul William Arthur Philip Louis de Wales, Kate Middleton, Universitatea St Andrews, relaţie ., George, Charlotte, Louis Organizations: Universitatea St Locations: ducesa de Cornwall, Kensington, Buckingham, St, Paddington, Australia, Noua Zeelandă, Scoţia, relaţie

Polul magnetic al Pământului se îndreaptă spre Siberia. În ultimii 90 de ani, s-a deplasat cu circa 1 400 de kilometriÎn 1831, exploratorul britanic James Clark Ross a stabilit pentru prima dată poziția polului nord magnetic. Timp de 90 de ani a migrat încet spre nord, cu o rată de până la 15 kilometri pe an (1 350 de kilometri), scrie playtech.ro. Pe suprafața Pământului, polul magnetic este definit ca locul în care câmpul magnetic este perpendicular pe suprafață și unde un ac magnetic care se mișcă liber ar indica drept în jos. Cu alte cuvinte, oriunde s-ar duce, este puțin probabil ca polul nord magnetic să rămână acolo mult timp.

Persons: britanic James Clark Ross, Philip Livermore, Ross, Amundsen, Livermore Organizations: Universitatea din Locations: Siberia, britanic, Peninsula Boothia, Nunavut, Canadei, Canada, Universitatea din Leeds, canadiană

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