SINGAPORE—The dollar rose in Asia on Friday after hotter-than-expected U.S. inflation and hawkish comments from a Federal Reserve official unleashed a wave of bets on aggressive rate hikes, though similar pressures worldwide kept a lid on gains. Thursday data showed U.S. consumer prices up 7.5 percent year-on-year in January, a fourth straight month above 6…
Bank of America Says It Sees Seven Fed Rate Hikes This Year
Bank of America economists said on Friday that they expect the Federal Reserve to hike rates by 25 basis points seven times this year, beginning in March, adopting one of the most aggressive views on Fed tightening among major banks. Economists have scrambled to update rate hike expectations since the Fed on Wednesday said it…
Canadian Inflation Hits 30-year High, Boosting Chances of Early Rate Hike
OTTAWA—Canada’s annual inflation rate accelerated again in December, hitting a 30-year high, data showed on Wednesday, bolstering expectations the central bank could start hiking interest rates as early as next week. Inflation rose to 4.8 percent, in line with expectations and up from 4.7 percent in November, Statistics Canada said. It was the ninth consecutive…
Global Shares Mostly Fall as Investors Mull Likely Rate Hike
TOKYO—Global shares were mostly lower Tuesday following a national holiday in the U.S, while oil prices surged following an attack on an oil facility in the capital of the United Arab Emirates that killed at least three people. Benchmark U.S. crude rose $1.44, or 1.7 percent, to $85.26 a barrel in electronic trading on the…
Dollar Steadies as Traders Reassess Rate Hike Bets
LONDON—The dollar edged lower on Monday as traders took the view that Federal Reserve tightening moves were largely priced in, while the euro eased from Friday’s two-month high. An unexpected cut to key lending rates in China highlighted it as the outlier, with other major central banks in talks to raise rates. China’s move only…
Bank of Korea Likely to Hike Rates Again Over High Inflation, Household Debt: Reuters Poll
BENGALURU—The Bank of Korea is likely to raise its policy rate back to where it was before the pandemic on Friday, a Reuters poll found, as it looks to restrain rising inflation and the increasing debt that households are taking on to buy property. Twenty-five of 35 economists who answered a Jan. 5–11 Reuters poll…
Wall Street Opens Higher as Producer Prices Data Eases Rate Hike Fears
Wall Street’s main indexes opened higher on Thursday after weaker-than-expected producer prices data eased concerns about a faster pace of interest rate hikes from the Federal Reserve, while Delta Air Lines led gains among carriers on strong earnings. The Dow Jones Industrial Average rose 22.17 points, or 0.06 percent, at the open to 36,312.49. The…
Dollar Extends Losses, Euro Rallies as Traders Reassess Rate Hike Bets
LONDON—The dollar fell further on Thursday to two-month lows after U.S. inflation proved weaker than feared in December, prompting investors to cut crowded long positions in the currency. The euro was a big beneficiary of the move and extended its rise to as high as $1.1479, up 0.3 percent on the day, while sterling and…
Fed’s Mester Would Back March Rate Hike to Fight Inflation
The Federal Reserve may need to raise interest rates at least three times this year and begin running down its balance sheet to respond to a tight labor market and inflation that is persistently high and more broad-based, Cleveland Fed President Loretta Mester said on Tuesday. “If the economy in March looks like it does…
Dollar Ticks Up as Case for March Fed Hike Grows
LONDON—The dollar ticked up on Monday amid rising bets U.S. inflation will bolster the case for higher interest rates while the European Central Bank’s dovish stance on rising prices weighed on the euro. The dollar had met with selling late last week after a weaker-than-expected headline U.S. job-creation figure squeezed traders out of long dollar…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`