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Andy Haldane Economy increase OANDA Reserve Bank Top News 

Dollar edges away from three-week high versus yen; kiwi firm after RBNZ

June 22, 2017 By Masayuki Kitano SINGAPORE (Reuters) – The dollar eased versus the yen on Thursday as a recent rally tied to bets on another U.S. interest rate hike this year lost steam, while the New Zealand dollar rose after its central bank stopped short of aggressively trying to talk down the currency. The New Zealand dollar was the big mover during Asian trade, rising 0.4 percent on the day to $0.7248 , edging back in the direction of a four-month peak of $0.7320 set last week. The kiwi…

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AOMORI Economy Japan rates Top News United States 

BOJ’s Iwata sees no need to raise rates now as economy needs support

June 22, 2017 By Leika Kihara AOMORI, Japan (Reuters) – Bank of Japan Deputy Governor Kikuo Iwata on Thursday dismissed the need to raise interest rates any time soon, stressing that the economy still needs support from “powerful” monetary easing with inflation distant from the central bank’s 2 percent target. Japan’s low inflation expectations mean its short-term real interest rate, which is calculated by subtracting inflation expectations from nominal interest rates, remains higher than that of the United States, Iwata said. The BOJ must therefore maintain its massive stimulus program,…

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accounts China Economy PBOC spending Top News 

China not facing same pressure as Fed to shrink balance sheet: PBOC adviser

June 22, 2017 SHANGHAI (Reuters) – China’s central bank will not take action to shrink its balance sheet like the U.S. Federal Reserve as it does not face the same pressures due to its use of different policy tools, an adviser to the People’s Bank of China (PBOC) said on Thursday. The Fed is looking to start reducing its massive $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities beginning later this year. Most of the assets were purchased in the wake of the 2007-2009 financial crisis and recession. However,…

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Brian Reynolds Economy fact Lou Brien rates Top News 

Bond market flashing worry on economy, countering Fed view

June 22, 2017 By Karen Brettell (Reuters) – The U.S. Treasury yield curve is flashing warning signs on the economy, pointing to a less optimistic prediction for longer-term economic growth at the same time as Federal Reserve officials are adopting a more aggressive tone on raising interest rates. A flattening yield curve is often interpreted as a negative economic indicator as it shows concerns about the future pace of growth and inflation, because buyers of long-dated debt would demand higher yields if they expected higher costs. “The Fed’s optimism has…

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Economy NAFTA security Top News Trade Representative Lighthizer United States 

U.S. Trade Representative Lighthizer says no deadline set for NAFTA deal

June 21, 2017 WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer said on Wednesday there was no deadline for completing NAFTA trade talks between the United States, Canada and Mexico even as lawmakers warned that U.S. business would be hurt by prolonged negotiations. “There is no deadline. My hope is that we can get it done by the end of the year, but there are a lot of people who think that is completely unrealistic,” Lighthizer told a Senate Finance Committee hearing to discuss the USTR’s budget. He said reaching…

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climate change Economy GM tax Texas Top News 

America’s hungriest wind and solar power users: big companies

June 21, 2017 By Nichola Groom LOS ANGELES (Reuters) – Major U.S. corporations such as Wal-Mart Stores Inc and General Motors Co have become some of America’s biggest buyers of renewable energy, driving growth in an industry seen as key to helping the United States cut carbon emissions. Last year nearly 40 percent of U.S. wind contracts were signed by corporate power users, along with university and military customers. That’s up from just 5 percent in 2013, according to the American Wind Energy Association trade group. These users also accounted…

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Australia Big Four canada Economy rates RBA Top News 

Australia’s central bank frets on financial stability as household debt mounts

June 21, 2017 By Swati Pandey and Wayne Cole SYDNEY (Reuters) – Australia’s central bank ramped up its rhetoric on financial stability risks amid runaway property prices and soaring household debt, a threat that prompted ratings agency Moody’s to downgrade the country’s biggest banks this week. Fears over the effects of a sharp correction in the housing market mean interest rates in Australia are likely to stay at an all-time low of 1.50 percent for a considerable time – even as some global central banks turn hawkish. The Reserve Bank…

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Economy energy increase rates Top News UK 

Dollar advance stalls as oil slides, pound struggles near two-month low

June 21, 2017 By Shinichi Saoshiro TOKYO (Reuters) – The dollar pulled back from one-month highs against a basket of currencies on Wednesday as tumbling oil prices pushed down U.S. yields, while the pound wobbled after Bank of England Governor Mark Carney shot down hopes of an interest rate hike. The dollar index against a group of major currencies was 0.05 percent lower at 97.699 . It had hit a one-month high of 97.871 on Tuesday as expectations that the U.S. Federal Reserve, which hiked interest rates last week, would…

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Business Economy INSEAD Japan Hitachi Ltd Southeast Asia Top News 

Asia firms’ confidence at three year-high on brighter global outlook: Thomson Reuters/INSEAD

June 21, 2017 By Brenda Goh SHANGHAI (Reuters) – Business confidence in Asia rose to a three-year-high in the second quarter of the year, propelled by a slew of favorable economic data across the region and easing concerns over the health of China’s economy, a Thomson Reuters/INSEAD survey showed. The Thomson Reuters/INSEAD Asian Business Sentiment Index , representing the six-month outlook of 101 firms, climbed to 74 in April-June from 70 three months earlier. A reading over 50 indicates a positive view. “The world economy is starting to look more…

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canada Economy Georgia Mexico Top News United States 

NAFTA agriculture ministers see ‘few’ differences over trade

June 20, 2017 By Harriet McLeod GARDEN CITY, Ga. (Reuters) – The United States, Canada and Mexico have “relatively few” differences on agricultural trade, the three countries’ agriculture ministers said after meeting on Tuesday to discuss the renegotiation of the North American Free Trade Agreement. There are some “irritants” for each country, however, in the run-up to NAFTA renegotiations, U.S. Secretary of Agriculture Sonny Perdue told a joint news conference at the Port of Savannah, Georgia. “Now is not the time to talk about them. These are family discussions that…

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