Economy
Trump may get up to four chances to shape U.S. Federal Reserve board
Former U.S. President Donald Trump could influence up to four appointments to the Federal Reserve's Board of Governors before his potential second term ends in 2028. The board's staggered terms limit direct political control.
U.S. durable goods orders rise 1.1% in July, outpacing forecasts
Orders for U.S. durable goods increased 1.1% last month, surpassing expectations as demand for transportation equipment offset broader weakness in core categories.
U.S. personal income rises 0.4% in July, outpacing forecasts
Private consumption and PCE inflation both exceed expectations as U.S. economic data signals resilient spending and sticky price pressures.
U.S. GDP growth slows to 1.5% in Q2, matching forecasts
Annualized expansion undershoots prior quarter’s 2.1% pace as preliminary estimate aligns with economist projections. Data subject to two subsequent revisions.
U.S. core PCE inflation rises 0.2% in August, matching forecasts
The Federal Reserve's preferred inflation gauge rose in line with expectations, signaling steady but contained price pressures. The dollar held gains after the data.
Germany posts stronger-than-expected Q2 growth, Q2 deficit hits record €71.3bn
German GDP rose 0.3% in Q2, beating prior estimates, while the state deficit widened to €71.3bn in H1 due to defense and infrastructure spending. Analysts warn of rising debt costs amid weak tax revenues.
U.S. inflation holds at 3.7% in July, GDP growth steady at 1.5%
Annual PCE inflation matched June’s 3.7% pace as core services and energy prices offset monthly declines. Second-quarter GDP growth was unrevised at 1.5% amid steady Fed policy.
Erste Bank warns of widening corporate credit spreads amid ECB rate hike bets
Austrian lender Erste Group flags rising pressure on corporate credit spreads as energy costs and ECB rate expectations drive bond market volatility. Volkswagen’s stock slump highlights sector strain.
Three major Australian banks predict RBA rate hike this year
CBA, NAB and ANZ anticipate another increase after inflation rebound; Westpac holds steady. Markets price 50% chance of September hike.
South Korea raises interest rates to 3.00% in back-to-back hike
The Bank of Korea increased its benchmark rate by 25 basis points as inflation remains above target. The move follows a prior hike and aligns with expectations from most economists surveyed.
BOJ’s Himino signals ‘timely’ rate hike amid inflation pressures
Deputy Governor Ryozo Himino warns of upside inflation risks and calls for gradual but prompt policy tightening, with September seen as a potential meeting for action.
South Korea hikes rates to 3.00% as inflation pressures persist
Bank of Korea raises benchmark rate for second straight meeting, projects gradual tightening into 2027 amid price stability concerns. Treasury bond futures gain 0.2 points.
Bank of Japan's Ueda skips Jackson Hole; focus shifts to G20 meeting
BOJ President Kazuo Ueda will not attend the annual Fed symposium, sending board member Naoki Tamura instead. G20 financial leaders' gathering next week now draws increased attention.
Brazil's IPCA-15 inflation drops 0.40% in August, 12-month rate falls to 4.24%
The consumer price index IPCA-15 declined for the first time since August 2025, while the 12-month reading eased below the central bank's target ceiling. Food, housing and transport costs drove the monthly decrease.
Investors await Fed's Warsh to clarify Jackson Hole policy stance
New Fed Chair Kevin Warsh's debut speech at the Kansas City Fed's annual symposium faces scrutiny as markets seek clarity on his inflation and rate guidance approach.
German Q2 GDP rises 0.3% on export rebound, beats forecasts
Second-quarter growth exceeded expectations as exports climbed 2%, though capital investment declined. Year-on-year GDP growth matched 1% after historical revisions.
RBA board split on rate hike in August amid inflation risks
Minutes show several members favored a hike to 4.6% but majority opted to hold at 4.35% as inflation pressures eased. Next decision due Sept. 28-29.
Taurus integrates banks with Swift’s blockchain-based tokenized deposit ledger
Taurus links its tokenization and custody tools to Swift’s shared blockchain ledger, enabling member banks to issue and settle tokenized deposits without building new infrastructure. First transactions expected within weeks.
Nevada challenges Trump administration’s Colorado River water cuts plan
State files federal lawsuit to block Interior Department’s 21% water reduction plan for lower basin states, citing legal and environmental violations. Cuts set to begin in 2027.
Druckenmiller calls U.S. Treasury bond buybacks a credibility risk
Billionaire investor warns expanded Treasury buybacks risk undermining market trust and distort long-term yields. Move comes as 30-year yield nears two-decade high.
Brazil's jobless rate falls to 5.3% as employment hits record high
Unemployment in the three months to July dropped to 5.3%, the lowest since 2012, while the number of employed reached a record 103.3 million, IBGE data shows.
ECB signals September rate hike after July pause, cites inflation risks
Accounts from the July 22-23 meeting show policymakers prepared for a 25-basis-point increase in September, while corporate lending growth accelerated to 4.4% in July.
Brazil’s current account deficit widens to $8.11 bln in July
Current account shortfall exceeds forecasts as foreign direct investment falls below expectations. 12-month deficit holds at 2.49% of GDP.
U.S. wholesale inventories jump 1.3% vs 0.2% forecast, stoking growth concerns
Unexpected surge in wholesale stockpiles signals potential demand weakness and risks to economic expansion, overshooting forecasts by a wide margin.
Six EU nations push for €400 billion cut to 2028-2034 budget plan
Germany, Denmark, Netherlands and three others seek 'balanced' reductions to the bloc's €2 trillion long-term budget proposal ahead of 2026 agreement deadline.