Economy
Fed's Waller signals September rate pause if inflation cools further
Federal Reserve Governor Christopher Waller said the central bank could hold rates steady in September if disinflation continues, while market odds of a hike have swung. Treasury yields and inflation expectations adjust.
Fed's Waller signals openness to holding rates steady if inflation cools
Federal Reserve Governor Christopher Waller said he would support keeping interest rates unchanged at the September meeting if inflation data continues to trend toward the 2% target. Traders now price a roughly 50% chance of a hike.
White House urges Federal Reserve to cut interest rates, Vance says
Vice President JD Vance states administration seeks lower borrowing costs, citing supportive inflation data. Comments come as markets assess Fed policy outlook.
Brazil services activity rebounds in August as PMI rises above 50
Brazil's services sector returned to growth in August, with the PMI climbing to 50.5 from 49.7 in July, offsetting continued weakness in manufacturing. Employment remained flat after prior declines.
Fed’s Waller signals September rate pause if disinflation continues
Federal Reserve Governor Christopher Waller said a September rate hike remains possible but is not guaranteed, as policymakers await fresh inflation data. Treasury yields and equities reacted to his remarks.
Canada's trade surplus shrinks to C$769 mln in July as exports drop
Exports fell 2.3% in the first decline since January, while imports rose 2.2%, pushing the surplus to its lowest level in five months. Energy and metals led the decline.
Senegal transfers funds for 2048 bond coupon amid IMF deal
Government initiates payment for century-long dollar bond as IMF approves $2.2 billion loan package. Bond prices rise on announcement.
U.S. services PMI slips to 56.5, misses forecast as growth slows
The ISM services index fell short of expectations in September, with the PMI declining to 56.5 from 54.6 a month earlier. A reading above 50 still signals expansion.
Poland’s central bank seen holding rates through 2026
Monetary Policy Council member signals benchmark rate of 3.75% will remain unchanged at least through year-end, with no cuts expected in 2025. Inflation rose to 3.4% in August.
Magnitude 5 earthquake strikes Tibet: GFZ
A 5.0-magnitude quake hit the Tibetan plateau Thursday, the German Research Centre for Geosciences reported. No immediate damage or casualties were cited.
HSBC raises U.S. Treasury yield forecasts on hawkish Fed shift
Bank lifts 2-year and 10-year yield projections for 2026-27, citing rising odds of a September rate hike and risks to the Fed’s dual mandate. Curve seen steepening amid fiscal deficits.
Canada’s services PMI falls to six-month low amid trade tensions
The decline in Canada’s services PMI reflects growing trade-related pressures, though further details were not immediately available.
Swiss inflation hits two-year high, SNB rate hike odds rise
August CPI surge to 0.8% exceeds forecasts, lifting expectations for a potential Swiss National Bank rate increase by late 2027. Energy prices drive the jump while core inflation remains subdued.
ECB’s Schnabel seen leaving early for IMF role, report says
Executive board member Isabel Schnabel may step down before her 2027 term ends to join the IMF. Bundesbank’s Nagel would be Germany’s sole candidate to replace Lagarde.
ECB's Schnabel may leave early for IMF role, Handelsblatt reports
Isabel Schnabel, ECB executive board member, is in talks to head the IMF's Monetary and Capital Markets Department, potentially leaving her post before her 2027 mandate ends. A reshuffle at the ECB board could follow.
Malaysia holds benchmark rate at 2.75% as growth remains strong
Central bank cites resilient economy and stable inflation as reasons for maintaining policy rate unchanged. Survey of 31 economists showed broad consensus on decision.
Eurozone business activity growth slows in August as services PMI falls
Eurozone composite PMI held near long-term average at 52.0 in August, while services activity slipped to a two-month low of 51.6. Export orders rose for the first time in 4.5 years, led by manufacturing demand.
India’s GDP growth of 7.8% sparks skepticism over methodology
Analysts question the robustness of India’s latest quarterly growth figure amid concerns over data revisions and deflator assumptions. High-frequency indicators show mixed signals.
UK services growth accelerates in August as cost pressures rise
S&P Global PMI shows services activity at its strongest since April, but firms report intensifying price pressures amid Middle East energy risks. Composite index also climbs to five-month high.
Global bond rout pauses as European, Aussie yields retreat from peaks
German and Australian 10-year yields fall from multi-year highs after a week of aggressive selling, while U.S. labor data tempers rate-hike bets ahead of ECB meeting.
Global bond sell-off pauses as European, Australian yields retreat
European and Australian government bond yields fell on Thursday, halting a global sell-off amid mixed U.S. labor data and ahead of key economic reports.
Germany's services sector contracts in August as costs weigh
S&P Global PMI shows slight decline to 49.7, while composite measure rises to 51.8 amid mixed signals in demand and hiring. Cost pressures remain a key constraint.
Italy's services PMI hits 3.5-year high, composite growth accelerates
Italy's services sector expanded at the fastest pace since April 2023 in August, with the composite PMI rising to its second-highest level in over three years, driven by domestic demand and new business growth.
France services activity contracts faster in August amid weak demand
The latest data indicates a sharper decline in French services sector activity during August.
Germany's services PMI edges up as sector nears stabilization
Services activity contracted marginally in August, but new business and employment showed improvement, while composite output rose to a five-month high. Input price pressures accelerated.