The Bank of England needs to cut interest rates further as its policy stance is still very restrictive and is hurting living standards, business investment and potentially longer-term productivity, policymaker Swati Dhingra said on Friday. “A combination of all of those factors – the weak...
https://www.hellenicshippingnews.com/bank-of-englands-dhingra-calls-for-more-interest-rate-cuts/
Business conditions for western European banks and their performance will remain sound despite muted economic growth prospects, Fitch Ratings says in its 2025 Outlook report for the sector. This drives the ‘neutral’ outlook for the western European banking sector overall and for nearly two-thirds...
https://www.hellenicshippingnews.com/western-european-banking-sector-outlooks-are-mostly-neutral/
The risk premium investors demand to hold French debt rather than German Bunds dropped to a fresh two-week low on Friday, after President Emmanuel Macron said he would appoint a new prime minister soon to get a 2025 budget approved by parliament. Meanwhile, euro area benchmark Bund yields were on...
The Japanese economy likely expanded in the third quarter at the same moderate pace as initially reported, a Reuters poll showed, but a bump in private consumption may be temporary and could cast doubt about policymakers’ view on the outlook for growth. Cabinet Office data is expected to show gross...
Turkey’s current account is expected to record a surplus of $1.32 billion in October, and the deficit was seen narrowing to $10.25 billion at end-2024, a Reuters poll showed on Friday. The October current account balance forecasts by 11 economists polled ranged from $900 million to $1.9 billion...
https://www.hellenicshippingnews.com/turkey-to-log-1-32-bln-current-account-surplus-in-october/
No change in repo rate, but RBI cut CRR to address liquidity tightening The Reserve Bank of India left the repo rate unchanged at 6.5% but cut the cash reserve ratio by 50bp to 4%, in line with our and consensus expectations. The monetary policy stance was left unchanged at neutral. 10-year yields...
https://www.hellenicshippingnews.com/indias-central-bank-reduces-crr-leaves-repo-rate-unchanged/
Minutes after South Korean President Yoon Suk Yeol declared martial law on Tuesday night, plunging the country into its worst crisis in decades, his stunned finance minister knew his priorities: throw everything at defending the currency. By around 11 p.m., Choi Sang-mok, who was among the majority...
The Bank of Japan is staying guarded on the timing of the next rate hike with December hardly a done deal given soft consumption, its governor’s cautious decision-making style and anxiety over U.S. economic policy in a second Trump presidency. BOJ Governor Kazuo Ueda signalled that December will be...
https://www.hellenicshippingnews.com/boj-is-holding-cards-close-to-its-chest-on-december-rate-hike/
The slump continues. German industrial production fell by 1% month-on-month in October from -2.5% MoM in September. On the year, industrial production is down by almost 5%. This is a very weak start to the fourth quarter, increasing the risk of a winter recession in Germany. Industrial outlook...
https://www.hellenicshippingnews.com/germanys-industrial-slump-continued-in-october/
Banks that issue credit cards used by millions of consumers raised interest rates and introduced new fees over the past year in response to an impending regulation that most experts now believe will never take effect. Synchrony and Bread Financial, which specialize in issuing branded cards for...