PARIS (Reuters) – Europe needs to be ready to use fiscal stimulus to deal with the impact of the coronavirus outbreak on economy, French Finance Minister Bruno Le Maire said on Wednesday. Le Maire also told French BFM Business radio
Category: Finance
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Over 60% of Japan firms seeing earnings hit by coronavirus: survey
© Reuters. Over 60% of Japan firms seeing earnings hit by coronavirus: survey TOKYO (Reuters) – Over 60% of Japanese companies said their earnings were being hurt by the coronavirus outbreak, a survey by a private think tank showed on
China says will not use property as short-term stimulus to jumpstart economy
BEIJING (Reuters) – China’s central bank said on Wednesday that the property sector will not be used as a means of short-term stimulus to jumpstart the economy, adding that financing policies for the sector will be consistent and stable. A
Thai business groups say economy may shrink if virus impact drags on
© Reuters. Thai business groups say economy may shrink if virus impact drags on BANGKOK (Reuters) – The Thai economy might not grow in the first half of 2020, and could even contract over the full year, if the coronavirus
BOK says will keep Fed’s surprise rate cut in mind in conducting policies
© Reuters. BOK says will keep Fed’s surprise rate cut in mind in conducting policies SEOUL (Reuters) – South Korea’s central bank chief said on Wednesday that it will take into account the U.S. Federal Reserve’s emergency interest rate cut
IMF deal seen as only way out for Lebanon
By Samia Nakhoul and Tom Perry BEIRUT (Reuters) – The Lebanese government must swallow its misgivings and reach a rescue deal with the International Monetary Fund (IMF) or risk economic implosion and further turmoil, economists, diplomats and politicians said. Privately,
The Fed’s Rate Cut Is Just the Excuse We Need
© Reuters. The Fed’s Rate Cut Is Just the Excuse We Need (Bloomberg Opinion) — Far from upending the policy landscape, the Federal Reserve’s emergency interest-rate cut Tuesday encourages Asian officials to keep at it. Rates have been coming down
No Bottom in Sight for Yields After Fed ‘Bazooka’ Misfires
(Bloomberg) — There’s no bottom in sight for Treasury yields after the Federal Reserve’s aggressive rate cut failed to quell fears that the coronavirus is wrecking the global economy. Before Tuesday, the 10-year note had never yielded less than 1%.
India’s RBI Chief Sees Rate Cut as Option as Virus Threat Grows
(Bloomberg) — India’s central bank governor said he’s ready to act to shield the economy from the coronavirus and reiterated there’s room to cut interest rates if needed. Speaking in an interview with Bloomberg News in Mumbai hours before the
Resiliency test: How well can Chinese firms cope financially from a virus hit?
By Patturaja Murugaboopathy (Reuters) – As companies in China gradually restart business following the extended Lunar New Year break, investors are fretting over the financial impact of the coronavirus outbreak that has squeezed cash flow and hammered revenues in many
China’s central bank keeps short-term rates steady despite Fed easing
SHANGHAI (Reuters) – China’s central bank kept short-term borrowing costs steady on Wednesday, shrugging off the U.S. Federal Reserve’s emergency policy rate cut overnight. The People’s Bank of China (PBOC) skipped open market operations, it said in a statement on
Fed’s Evans: Given weak inflation, rates could stay lower for ‘substantial’ time
CHAMPAIGN, Ill. (Reuters) – Weak inflation means the Federal Reserve can likely leave interest rates at their newly reduced level for “some substantial period of time,” Chicago Fed President Charles Evans said on Tuesday. “We are really just on the
BOJ’s Kuroda to appear in parliament at 0524 GMT: sources
TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda is scheduled to appear in parliament at 0524 GMT (14:24 Japan time) on Wednesday, two sources said. Kuroda will be speaking a day after the Federal Reserve cut interest rates to
Taiwan’s central bank to stabilize forex market after Fed cuts rates
TAIPEI (Reuters) – Taiwan’s central bank will act to stabilize the foreign exchange market after the U.S. Federal Reserve cut interest rates in response to the fast-spreading coronavirus, a bank official told Reuters on Wednesday. “We don’t know how powerful
Australian economic growth picks up but outlook cloudy on virus fears
By Wayne Cole and Swati Pandey SYDNEY (Reuters) – Australia’s economy expanded by more than expected last quarter, erasing the risk of a recession even as raging bushfires and the coronavirus crisis wreaked havoc with tourism and travel at the
South Korea unveils $9.8 billion stimulus to fight coronavirus
By Cynthia Kim SEOUL (Reuters) – South Korea announced a stimulus package of 11.7 trillion won ($9.8 billion) on Wednesday to cushion the impact of the largest outbreak of coronavirus outside China as efforts to contain the disease worsen supply
Factbox: As virus hits Japan, what’s left in the BOJ’s tool-kit?
By Leika Kihara TOKYO (Reuters) – The Bank of Japan could ramp up stimulus this month as part of efforts by central banks to prevent the coronavirus outbreak from triggering a global recession. The U.S. Federal Reserve’s decision to cut
S&P cuts U.S. growth forecast again as virus spreads
SYDNEY (Reuters) – A rapidly spreading coronavirus outbreak will likely be a “material headwind” for the U.S. economy with the hit expected to be longer and deeper than previously anticipated, S&P Global Ratings said on Tuesday as it cut its
Hong Kong’s central bank cuts interest rate after Fed move
HONG KONG (Reuters) – The Hong Kong Monetary Authority (HKMA) lowered its base rate charged through the overnight discount window by 50 basis points to 1.5% on Wednesday, hours after the U.S. Federal Reserve delivered a rate cut of the
Lender CAF approves $300 million in credit to help Latin American countries hit by coronavirus
BOGOTA (Reuters) – Latin American development bank CAF has approved a credit line worth $300 million to manage emergencies related to coronavirus in its member countries, it said on Tuesday. CAF made the announcement shortly after Chile and Argentina confirmed
World Bank announces up to $12 billion in immediate funds for coronavirus
WASHINGTON (Reuters) – The World Bank on Tuesday announced an initial $12 billion in immediate funds to assist countries grappling with the health and economic impacts of the coronavirus outbreak that has spread quickly from China to over 60 countries.
Tornadoes wreak havoc on Tennessee, leaving at least 22 dead
© Reuters. Billy Wallace hugs his dad Bill after a tornado ripped through Bill’s neighborhood destroying his home in Mt. Juliet By Timothy Ghianni NASHVILLE (Reuters) – A cluster of powerful tornadoes ravaged Nashville and other parts of Tennessee on
Fed virus-driven cut may test new approach to inflation
By Howard Schneider and Jonnelle Marte WASHINGTON (Reuters) – U.S. Federal Reserve officials have slashed interest rates half a percentage point because of the coronavirus. They may keep that lower rate in place even if the risks to the economy
U.S. cuts rates over coronavirus economic impact as more countries report illnesses
© Reuters. A man wearing a mask walks near office buildings in Beijing By Andrea Shalal and Tetsushi Kajimoto WASHINGTON/TOKY0 (Reuters) – As the new coronavirus spreads in South Korea, Europe and the United States, the U.S. Federal Reserve cut
U.S. Supreme Court leans toward SEC’s power to recover ill-gotten gains
© Reuters. FILE PHOTO: Supreme Court Building By Andrew Chung and Lawrence Hurley WASHINGTON (Reuters) – U.S. Supreme Court justices on Tuesday appeared inclined to back the Securities and Exchange Commission’s power to use federal courts to force defendants to
Fed rate cut soothes, then spooks virus-weary investors
By Rodrigo Campos NEW YORK (Reuters) – Investors had mixed reactions to Tuesday’s surprise 50 basis-point rate cut from the Federal Reserve, helping fuel a day of swings in stocks and other assets. The U.S. central bank cut interest rates
Breaking: U.S. 10-Year Treasury Yield Dips Below 1%
© Reuters. Investing.com – The yield on the benchmark 10-year Treasury Note fell below 1% for the first time ever Tuesday, following the surprise FOMC interest rate cut and sharp afternoon selling in stocks. After dipping below 1%, the was
Mexico FX to stay on defensive with U.S. election campaign, coronavirus in focus: Reuters poll
© Reuters. FILE PHOTO: A board displaying exchange rates for Mexican peso and U.S. dollar is pictured at a currency exchange shop in Mexico City By Gabriel Burin BUENOS AIRES (Reuters) – Mexico’s peso is seen vulnerable to further slumps
WHO Urges Containment; Second Case in New York: Virus Update
(Bloomberg) — A Westchester County man has tested positive for the coronavirus, New York Governor Andrew Cuomo said. The U.S. Federal Reserve delivered an emergency interest-rate cut, and the Group of Seven finance chiefs pledged to use all policy tools
Mnuchin says high-tax states like New York, California should consider lowering taxes
© Reuters. FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin testifies before a Senate Finance Committee WASHINGTON (Reuters) – States with high tax rates like New York and California should consider lowering their taxes, U.S. Treasury Secretary Steven Mnuchin told lawmakers