July 1, 2024
Chicago 12, Melborne City, USA
Economy Finance

UniCredit Challenges ECB’s Russia Risk Reduction Mandates in EU Court

UniCredit announced on Monday that it is contesting the European Central Bank’s (ECB) directives to reduce its exposure to Russia. The Italian bank is seeking a ruling from the European Union’s General Court and has requested a suspension of the ECB’s demands in the interim. In recent weeks, Eurozone banks with ongoing Russian ties, more

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Economy

Bank of Canada Governor Tiff Macklem Confident Inflation Can Be Tamed Without a Spike in Unemployment

Bank of Canada Governor Tiff Macklem has expressed optimism about the country’s economic outlook, suggesting that a significant rise in unemployment is not necessary to achieve the central bank’s inflation target. Speaking in Winnipeg on Monday, Macklem highlighted that Canada’s unemployment rate, which stood at 6.2% in May, is just above pre-pandemic levels when the

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Economy

Bank of Canada to Justify Pandemic Actions Amid Political Shifts

The Bank of Canada is conducting a comprehensive review of its pandemic-era policies, during which it purchased hundreds of billions in government bonds to lower interest rates. This review could be Governor Tiff Macklem’s last opportunity to defend these actions before a major political change potentially places one of his strongest critics in power. Early

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Economy

Mexico Inflation Surges, Strengthening Rate Hold Predictions

Mexico’s inflation rate surged more than anticipated in early June, moving further away from the central bank’s target. This development likely supports expectations for Banco de Mexico to maintain its interest rate in the upcoming meeting on Thursday. Consumer prices increased by 4.78% in the first half of June compared to the previous year, surpassing

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Economy

Immigration to Propel Canada’s Population Surge Over the Next Five Decades

Canada’s population is poised for significant growth, driven largely by immigration, with projections indicating a more than 50% increase over the next 50 years. According to forecasts released by Statistics Canada, the population is expected to rise from 40.1 million in 2022 to 62.8 million by 2073. This projection, based on a “medium-growth” scenario, suggests

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Economy

Macklem Predicts Higher Unemployment Rate in Canada as Labor Market Stabilizes

Bank of Canada Governor Tiff Macklem has reiterated his forecast for a soft landing for the Canadian economy, expecting a moderate rise in the unemployment rate without the need for a significant increase to achieve the central bank’s inflation target. Speaking on Monday, Macklem noted that Canada’s unemployment rate, which reached 6.2% in May, is

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Economy

Credit Markets Experience First Setback of the Year

Global corporate bond spreads are poised for their first month of widening since late last year, reigniting discussions about the relative value of credit compared to other fixed-income assets as we move into the latter half of 2024. In June, spreads on corporate bonds, encompassing both high-yield and investment-grade notes, have widened by approximately 10

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Economy News

US Mortgage Rates Fall to Two-Month Low of 6.87%

Mortgage rates in the United States have declined for the third consecutive week, reaching their lowest level since early April. According to Freddie Mac, the average rate for a 30-year fixed mortgage dropped to 6.87%, down from 6.95% the previous week. While this series of rate reductions offers some relief to potential homebuyers, many are

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Economy News

Stock Futures Rise, Anticipated Consumer Sentiment Data Today – Market Dynamics Explored

1. U.S. Stock Futures Ascend Amidst Market Optimism On a promising Friday, U.S. stock futures indicated a robust start, continuing the upward trajectory from the previous session. Market participants are poised to delve into U.S. consumer sentiment data today, alongside prepping for pivotal inflation figures next week. Concurrently, a dip occurred in the Hong Kong

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Economy

Ministers Could be Forced to Make NHS Workforce Plans Public

Ahen an unknown printer took a galley of type and their scrambled imaketype specimen book has follorrvived not only fiver centuriewhen an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries but also the leap into electronic typesetting, remaining essentially unchanged.

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