Economy News

As central bankers gather, some at Fed make rate-hike case


JACKSON HOLE, Wyo. As central bankers converge on this mountain resort Thursday for an annual conference on monetary policy, a couple of top Federal Reserve officials took the chance to renew a push for interest-rate hikes, citing improvement in employment and inflation.

Gold slips to four-week low, awaits clues on Fed

NEW YORK/LONDON Gold hit four-week lows on Thursday, under pressure from upbeat U.S. data in the run-up to a speech by Federal Reserve Chair Janet Yellen this week that will be watched for clues on monetary policy.

12:23am IST

Higher exports, state spending propel German growth

BERLIN A rise in German exports, higher state spending and private consumption more than compensated for weaker investment in construction and equipment, helping Europe's biggest economy grow at a modest, albeit slower pace in the second quarter.

24 Aug 2016

China central bank cash injection signals leverage, asset bubble concerns

SHANGHAI China's central bank injected cash into money markets through 14-day reverse repo agreements for the first time since February in a sign policymakers were worried rising leverage could stoke bubbles in the bond market.

24 Aug 2016

Japanese seek bargains as economy limps, Abenomics loses shine

TOKYO Three years of so-called "Abenomics", Japanese Prime Minister Shinzo Abe's bold stimulus programme, has failed to dislodge a deflationary mindset among businesses and consumers.

Japan 25 Aug 2016

China's Xi says will keep economic growth healthy

BEIJING China will keep economic growth healthy and supply-side reform will be priority for its economic development, the official Xinhua news agency quoted President Xi Jinping as saying.

24 Aug 2016

U.K. banks seen losing customers after Brexit - study

NEW YORK British banks could lose a good number of European and domestic corporate customers in the aftermath of Britain's vote to leave the European Union in June, known as Brexit, according to a private study released on Tuesday.

23 Aug 2016

Eight Fed banks urge discount rate increase - minutes

WASHINGTON The number of regional Federal Reserve banks calling on the central bank to raise the rate it charges commercial banks for emergency loans rose to eight in July, minutes from the Fed's discount rate meeting released on Tuesday showed.

23 Aug 2016

U.S. new home sales race to near nine-year high

WASHINGTON New U.S. single-family home sales unexpectedly surged in July, reaching their highest level in nearly nine years amid robust demand, brightening the housing market outlook and bolstering views that economic growth will pick up in the third quarter.

23 Aug 2016

World Bank's Kim launches bid for second term as president

WASHINGTON World Bank President Jim Yong Kim on Tuesday formally launched a bid for a second five-year term as head of the multilateral development lender, whose board pledged an "open, merit-based, and transparent" selection process.

24 Aug 2016


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Under India's incoming RBI boss expect less chat, unified message

NEW DELHI/MUMBAI When Urjit Patel became head of the Reserve Bank of India's monetary policy department three years ago, the to and fro of bankers and traders meeting officials for cosy, broad-ranging discussions abruptly ended.