China S Big Banks Cut Deposit Rates Signaling Monetary Easing Ahead
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BoE could be close to cutting rates as inflation eases says deputy governor
Ben Broadbent believes direct effects of pandemic and war in Ukraine have now ‘faded’Financial Times - Business -
Mortgage rates drop as markets bet on Bank of England cut
Fresh wave of competition among lenders could provide relief for homebuyers ahead of UK general electionFinancial Times - Business - Mortgage -
Summer interest rate cut possible, says Bank deputy
Ben Broadbent's comments come ahead of data which is expected to show a fall in inflation.BBC News - Top stories -
BoE needs more evidence of price pressures easing before cutting rates, says policymaker
Megan Greene believes ‘burden of proof’ must lie in inflation waning before Bank of England loosens stanceFinancial Times - Business -
China to cut mortgage rates as part of plan to prop up property market
Local authorities will be allowed to turn unsold homes from developers into affordable housing. China will cut mortgage rates and allow local authorities to turn unsold homes from developers into affordable housing, in a series of drastic measures ...The Guardian - World - China -
Gold Futures Set New Record on China Debt, Rate-Cut Hopes and Geopolitical Fears
Gold futures reached a new record settlement as Chinese investors flock to safe havens, rate-cut hopes grow and geopolitical tensions mount.The Wall Street Journal - World - China -
China's Youth Unemployment Eased in April
China’s youth unemployment rate declined in April, in what will likely be welcome news for Beijing as it steps up policy support for the economy.The Wall Street Journal - World - China -
Hunt signals pre-election tax cut as Tories move on to campaign footing
UK chancellor accuses Labour of ‘a lie’ and funding ‘black hole’ in political speechFinancial Times - Business -
Deutsche Bank raises S&P 500 price target to 5,500
Equity analysts at Deutsche Bank have raised their 2024 S&P 500 target to 5,500, joining a host of other Wall Street strategists who have expressed greater optimism as stocks have come roaring back from last month’s selloff.MarketWatch - Business -
China eases mortgage rules in latest push to aid property sector
China’s financial regulators said Friday that they would remove the mortgage rate floors for first and second homes, and lower minimum downpayment ratios for first-time homebuyers.MarketWatch - Business - China -
China Regulators to Discuss Property Aid With Banks Friday
Yahoo News - World - China -
China Benchmark Lending Rates Held Steady
The country’s benchmark lending rates were held steady this month, central bank data showed Monday after Beijing announced bold moves to address property-sector malaise.The Wall Street Journal - World - China -
China Rips Taiwan’s Lai for ‘Dangerous Signal’ in Opening Speech
Yahoo News - World - China -
ECB's Schnabel Says Second Rate Cut in July 'Does Not Seem Warranted'
The European Central Bank should move cautiously after delivering a first rate cut in June, a member of its executive board said in an interview.The Wall Street Journal - World -
ECB’s Schnabel lobbies against back-to-back rate cuts
European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.MarketWatch - Business -
Grant's Take: Retail Sales Don't Point to Rate Cut Just Yet
Walmart earnings give a different signal than what the latest Commerce Department data delivered.The Wall Street Journal - World -
Dollar rally falters as falling inflation raises hopes of rate cuts
US currency on track for first negative month of the year after end to months of above-forecast CPI dataFinancial Times - Business -
UK has room for three rate cuts this year, IMF says
The international body upgrades its UK growth forecast and says rates could fall to 4.5% by the end of 2024.BBC News - Top stories - United Kingdom -
Week Ahead for FX, Bonds: PMI Surveys, Asia Central Banks in Focus
Key data from the U.S., Europe and U.K. will share the stage with a raft of central bank decisions out of Asia-Pacific, as the timing of interest rate cuts stays front of mind for investors.The Wall Street Journal - World -
Cracker Barrel is the latest restaurant chain to signal trouble ahead as it sees fewer diners
Restaurant chain slashes dividend as it reports fewer diners, says it had to close stores this quarterMarketWatch - Business -
Singapore's MAS Steps Up Green Finance Partnership With China's Central Bank
Singapore’s central bank separately announced plans to sell up to US$1.9 billion of sovereign bonds to fund environmental projects.The Wall Street Journal - World - China -
Britain's inflation rate could be about to drop below the Bank of England's 2% target
The headline inflation rate could be 'momentous,' but markets remain divided on the chance of a June cut and services will be the one to watch.CNBC - Business - United Kingdom -
Fed’s Mester says forecast of 3 rate cuts this year is now probably too many
“I was on the record before saying I was at the median [forecast] which was three,” Loretta Mester said Monday. “The developments I’ve seen in the economy right now, I would not think that that’s still appropriate.”MarketWatch - Business -
Treasury yields dip after rising for three days in a row on Fed rate-cut caution
Bond yields fell early Tuesday as investors eyed another batch of comments from Federal Reserve officials.MarketWatch - Business -
Too Big or Not Enough? China Housing Bailout Treads a Fine Line
Beijing will try to provide enough support to absorb unsold apartments while not sparking a new bubble.The Wall Street Journal - World - China -
China’s ‘AI-in-a-box’ products threaten Big Tech’s cloud growth strategies
Huawei leads trend of providing companies with means to power their own artificial intelligence apps rather than through public cloudFinancial Times - World - China -
‘We know consumers are feeling pressured’: Target to cut prices on 5,000 items ahead of Memorial Day weekend
Retailer Target is competing on price with its bigger rival Walmart at a time when many Americans are struggling with inflationary pressures.MarketWatch - Business -
Is a $10,000 deposit into a high-yield savings account worth it?
A $10,000 deposit into a high-yield savings account could make sense for savers now. Here's why.CBS News - Top stories -
Efforts by JPMorgan's Jamie Dimon and other big-bank chief executives to resist Fed proposals that the lenders hold more capital appear to be paying off.
Efforts by JPMorgan’s Jamie Dimon and other big-bank chief executives to resist Fed proposals that the lenders hold more capital appear to be paying off.The Wall Street Journal - World -
White House Considers Easing Sanctions on Israeli Billionaire
A deal to allow the Israeli billionaire Dan Gertler to cash out his mining positions in the Democratic Republic of Congo has enraged human rights activists and some government officials.The New York Times - Top stories - Israel -
Justice Department moves forward with easing restrictions on marijuana
The Justice Department officially proposed a new rule on Thursday that would reclassify marijuana as a Schedule III drug.CBS News - Top stories -
Stock Futures Flat While Crypto Prices Extend Gains
Stock futures were little changed after Nasdaq Composite on Monday hit its ninth record of the year and the Dow retreated a bit from the 40000 milestone.The Wall Street Journal - World - Crypto -
When Form(s) Follows Function
Since 2009, the creators at Forms have been making unusual and sculptural pieces. The latest inspiration? A Japanese shakudo buckle.The New York Times - Lifestyle -
RedBird Banks $4.7 Billion for Dealmaking
The sports, media and financial services investor collects fresh capital amid a flurry of high-profile deals.The Wall Street Journal - World -
Oil prices rise as crude inventories fall and U.S. inflation eases
West Texas Intermediate and Brent are flat for the week. The contracts have lost 4% and 5.8%, respectively, for the month.CNBC - Business -
In Quest for Metals, U.S. Pitches Deal to Ease Sanctions on Israeli Businessman
Mining magnate Dan Gertler, whom the U.S. has accused of corruption, would sell his assets in the African country under a proposal that could make it easier for Western companies to access valuable minerals there.The Wall Street Journal - World - Israel -
In Quest for Metals, U.S. Pitches Deal to Ease Sanctions on Israeli Businessman
Mining magnate Dan Gertler, whom the U.S. has accused of corruption, would sell his assets in the African country under a proposal that could make it easier for Western companies to access valuable minerals there.The Wall Street Journal - Business - Israel -
Gold Prices Ease After Hitting Record High; Silver Jumps
Gold eased back but silver jumped, riding the coattails of bullion’s fresh record in the previous session.The Wall Street Journal - World -
Sinn Fein’s Support Falls Again, Irish Times Poll Signals
Yahoo News - World -
How a smear campaign against NPR led Elon Musk to feud with Signal
Rightwing media personalities on X transmuted a screed against NPR’s CEO into a fight over encryption via the Transitive Property of Bad People. For nearly two weeks, an esoteric debate has raged on X, formerly Twitter: could users concerned about ...The Guardian - World - Elon Musk