* Weekly jobless claims drop 9,000 to 215,000. * Continuing claims increase 41,000 to 1.885 million. * Claims decline during April payrolls survey week. * Single-family housing starts tumble 14.2% in March. * Permits for future single-family homebuilding fall 2.0% By Lucia Mutikani.
* ECB cuts deposit rate 25 bps to 2.25% * Traders focused on US trade talks. * Dollar gains from selling exhaustion. By Karen Brettell. The U.S. dollar rallied on Thursday after its recent weakness across peer currencies appeared exhausted for the time being, while the euro weakened slightly after the European Central Bank cut rates for the seventh time in a year.
Italy will meet NATO's 2% of gross domestic product target on defence spending this year through a series of accounting changes, Economy Minister Giancarlo Giorgetti said at a parliamentary hearing on Thursday.
Rising trade tensions and sweeping shifts in the global trading system will trigger downward revisions of the IMF's economic forecasts but no global recession is expected, IMF Managing Director Kristalina Georgieva said on Thursday.
Rising trade tensions and sweeping shifts in the global trading system will trigger downward revisions of the IMF's economic forecasts but no global recession is expected, IMF Managing Director Kristalina Georgieva said on Thursday.
Euro zone bond yields fell sharply on Thursday as investors priced in more rate cuts from the European Central Bank, after it lowered borrowing costs and said U.S. President Donald Trump's tariffs would knock the euro zone economy. Germany's two-year bond yield, which is sensitive to ECB rate expectations, dropped to 1.684% from around 1.81% just before the decision.
- U.S President Donald Trump said on Thursday that Federal Reserve Chair Jerome Powell's termination "cannot come fast enough", while calling for the U.S. central bank to cut interest rates.
- U.S President Donald Trump said on Thursday that Federal Reserve Chair Jerome Powell's termination "cannot come fast enough", while calling for the U.S. central bank to cut interest rates.
U.S President Donald Trump said on Thursday that Federal Reserve Chair Jerome Powell's termination "cannot come fast enough", while calling for the U.S. central bank to cut interest rates.
* Trump says rates should be falling in US as in Europe. * Fed is keeping rates on hold, concerned tariffs will drive up inflation. * Powell was applauded at Wednesday event for promising non-partisan monetary policy. By Howard Schneider.
U.S. President Donald Trump's tariffs have darkened the global economic backdrop, forcing big central banks to reassess their next steps. Policymakers outside the United States now look more likely to cut interest rates than they would have done otherwise - or in Japan's case raise them less. The U.S. Federal Reserve is in a tricky position.
-Following is the text of European Central Bank President Christine Lagarde's statement after the bank's policy meeting on Thursday: Link to statement on ECB website: Good afternoon, the Vice-President and I welcome you to our press conference. The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. The disinflation process is well on track.
* ECB cuts rates for a 7th time in a year. * Canada holds rates, says tariffs could mean recession. * Trade war complicates rate outlook. By Yadarisa Shabong and Alun John. U.S. President Donald Trump's tariffs have darkened the global economic backdrop, forcing big central banks to reassess their next steps.
Federal Reserve Bank of New York President John Williams said Thursday he sees no imminent need for a change in central bank interest rate policy as Trump administration tariffs are likely to drive up inflation, weaken growth and push up unemployment. "I think monetary policy is well positioned," Williams said in an interview on television channel Fox Business.
The European Central Bank cut interest rates for the seventh time in a year on Thursday, looking to prop up an already struggling euro zone economy that will take a large hit from U.S. tariffs. Following are highlights of ECB President Christine Lagarde's comments at a news conference after the policy meeting. ON TARIFFS. "I'm not going to characterize what's happening at the moment.
U.S. single-family homebuilding plunged to an eight-month low in March and could decline further as tariffs on imported materials raise costs and offset declining mortgage rates.
Following is the text of European Central Bank President Christine Lagarde's statement after the bank's policy meeting on Thursday: Link to statement on ECB website: https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2025/html/ecb.is250417~091c625eb6.en.html. Good afternoon, the Vice-President and I welcome you to our press conference.
U.S. single-family homebuilding plunged to an eight-month low in March and could decline further as tariffs on imported materials raise costs and offset declining mortgage rates.
The European Central Bank cut interest rates for the seventh time in a year on Thursday, looking to prop up an already struggling euro zone economy that will take a knock from U.S. tariffs. Policymakers were unanimous in approving the cut on Thursday, as even some of the more hawkish rate setters agreed that a global trade war has significantly altered the outlook, a source told Reuters.
Federal Reserve Bank of New York President John Williams said Thursday he sees no imminent need for a change in central bank interest rate policy as Trump administration tariffs are likely to drive up inflation, weaken growth and push up unemployment. "I think monetary policy is well positioned," Williams said in an interview on television channel Fox Business.
- Huntington Bancshares?reported a rise in its first-quarter profit on Thursday, helped by higher interest income due to multiple rate cuts by the U.S. Federal Reserve at the end of last year that lowered deposit costs and helped loan growth. Shares of the bank rose 1.73% in trading before the bell.
The number of Americans filing new applications for unemployment benefits fell last week, suggesting labor market conditions remained stable in April, though uncertainty around tariffs is making businesses hesitant to boost hiring. Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 215,000 for the week ended April 12, the Labor Department said on Thursday.
The number of Americans filing new applications for unemployment benefits fell last week, suggesting labor market conditions remained stable in April, though uncertainty around tariffs is making businesses hesitant to boost hiring. Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 215,000 for the week ended April 12, the Labor Department said on Thursday.
Euro zone bond yields fell on Thursday after the European Central Bank cut interest rates as expected and said U.S. President Donald Trump's tariffs would knock the euro zone economy. Germany's 10-year bond yield, the benchmark for the euro zone bloc, was last up 1 basis point at 2.513%, having traded 3 bps higher before the decision.
Investors who may have been hoping the Federal Reserve is poised to come to the aid of tariff-rattled markets took away an unwelcome message from the central bank's chief on Wednesday: the Fed may be in a bind. Fed Chair Jerome Powell said the U.S. central bank would wait for more data on the economy's direction before changing interest rates.
The European Central Bank cut interest rates for the seventh time in a year on Thursday, looking to prop up a struggling euro zone economy that is facing further pressure from U.S. President Donald Trump's trade tariffs.
The European Central Bank cut interest rates as expected on Thursday, easing for the seventh time in the past year as U.S. tariffs and faltering business confidence sap already weak economic growth.
The European Central Bank cut interest rates as expected on Thursday, easing for the seventh time in the past year as U.S. tariffs and faltering business confidence sap already weak economic growth.
Fifth Third Bancorp (FITB) reaffirmed the forecast for its annual net interest income growth on Thursday, as the lender banked on its ability to manage risks from the economic fallout of U.S. and China's escalating tariff war. Regional banks like Fifth Third rely primarily on lending to small businesses and consumers, which are especially susceptible to any economic downturn.
Italy will meet NATO's 2% of gross domestic product target on defence spending this year, Economy Minister Giancarlo Giorgetti said at a parliamentary hearing on Thursday. Italy's projected defence budget for 2024 was 1.49% of GDP, according to NATO criteria, one of the lowest levels among the countries in the military alliance, and it is under pressure from the United States to raise its outlays.
- U.S. President Donald Trump said on Thursday that Federal Reserve Chair Jerome Powell's termination "cannot come fast enough," while calling for the U.S. central bank to cut interest rates, the sort of pressure that Powell just a day before had pledged to resist as the Fed grapples with an outlook complicated by Trump's own policies.
Turkey's central bank hiked its key interest rate by 350 basis points to 46% on Thursday, in a surprise move that reversed an easing cycle and boosted Turkish assets following market turmoil triggered by the arrest of Istanbul's mayor last month.
U.S President Donald Trump said Federal Reserve Chair Jerome Powell's termination "cannot come fast enough", while calling for the U.S. central bank to cut interest rates.
JOHANNESBURG - Investors have flocked to South Africa's domestic bond markets, betting the country can stay the course on reforms despite political fractures, but tariff threats and the prospect of a global growth slowdown are casting a long shadow.
U.S. homebuilder D.R. Horton (DHI) lowered its full-year revenue forecast and missed second-quarter profit and revenue estimates on Thursday due to weak demand for homes. Shares of the company fell 3.2% before the bell.
An aggressive U.S. tariff policy will trigger a significant slowdown in the U.S. economy this year and next, with the median probability of recession in the next 12 months approaching 50%, according to economists polled by Reuters.
An aggressive U.S. tariff policy will trigger a significant slowdown in the U.S. economy this year and next, with the median probability of recession in the next 12 months approaching 50%, according to economists polled by Reuters.
Truist Financial (TFC) reported a fall in first-quarter profit on Thursday due to weakness in its investment banking and trading unit amid U.S. President Donald Trump's whiplash trade policies.
What matters in U.S. and global markets today. As the Federal Reserve takes a hawkish turn in the face of another Wall Street swoon, the European Central Bank appears set to ease borrowing rates again - or at least that's what markets expect. ???. In today's column, I get into all the details and explain why the bond market doesn't appear to be too worried about U.S. long-term inflation.
What matters in U.S. and global markets today. As the Federal Reserve takes a hawkish turn in the face of another Wall Street swoon, the European Central Bank appears set to ease borrowing rates again - or at least that's what markets expect. I'll be off tomorrow, as the U.S. stock market will be closed for the Good Friday holiday, and then I'm on holiday next week. Now onto the market news.
Euro zone government bond yields rose on Thursday after falling the day before, with investors expecting the European Central Bank to cut rates by 25 basis points later in the session while focusing on possible clues about the rate path. Markets will want to see if the ECB maintains a reference to rates being restrictive, as such a phrase would signal that more policy easing remains the baseline.
* Stocks fall as caution abounds ahead of ECB. * Gold scales record high again on safe-haven flows. * Dollar inches higher but under pressure on trade worries. * TSMC earnings in focus after warnings from Nvidia (NVDA), ASML. By Amanda Cooper.
* ECB seen cutting deposit rate 25 bps to 2.25% * Japan says FX not discussed at U.S. trade talks. * Dollar/yen lifts from 7-month low. By Yadarisa Shabong and Tom Westbrook.
China has released guidelines to facilitate more efficient and standardised cross-border flows of Chinese and foreign financial institutions' data, the central bank announced on Thursday.
China has released guidelines to facilitate more efficient and standardised cross-border flows of Chinese and foreign financial institutions' data, the central bank announced on Thursday.
Japan is "deeply concerned" over global economic fallout from U.S. President Donald Trump's trade tariffs, Finance Minister Katsunobu Kato said on Thursday in the government's strongest warning yet as the two nations began trade talks.
Japan is "deeply concerned" about global economic fallout from U.S. President Donald Trump's trade tariffs, Finance Minister Katsunobu Kato said on Thursday in the government's strongest warning yet as the two nations began trade talks.
Greece's current account deficit stood at 2.49 billion euros in February, down from a deficit of 3.06 billion euros in the same month in 2024, data from the Bank of Greece showed on Thursday.
* Deposit rate cut to 2.25% from 2.50% * Rates no longer seen as restrictive. * Lagarde stresses need for "agility" * Trade turmoil to weigh on growth. * Follow Reuters Live for latest developments. By Francesco Canepa and Balazs Koranyi.
The following are the top stories in the Wall Street Journal. - Federal Reserve Chair Jerome Powell said on Wednesday that the central bank may have limited ability to shield the economy from President Trump's trade war, predicting higher consumer prices and unemployment in the near term.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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