* IMF keeps Asia's growth forecasts roughly unchanged from January. * Tailwinds from solid exports somewhat offset energy shock. * Energy shock seen hurting Asia more than other regions. * Prolonged conflict could deepen pain through supply shortages. * Asian central banks should look through shock but must be agile. By Leika Kihara.
The US dollar rose against its major trading partners early Thursday, except for a decline versus the yen, ahead of the release of weekly jobless claims data, the New York Federal Reserve's services index for April, and the Philadelphia Fed's manufacturing reading for April, all at 8:30 am ET.
By Mike Dolan. What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets After a dreary, war-filled six weeks, global stocks are once again at record highs. I'll get into that and more below. SIX-WEEK ROUNDTRIP Global stocks are rallying as investors refocus on how the tech sector and wider global economy have absorbed the impacts of the Iran war.
The prospect of a smooth-and-on-time transition to U.S. President Donald Trump's pick for the next Federal Reserve chief, Kevin Warsh, looks increasingly to be on shaky ground, setting up a possible clash over who runs things in the meantime.
* Senate confirmation hearing for Fed chief nominee Warsh set for April 21. * Powell's term as head of US central bank ends on May 15. * Key Republican senator has vowed to block Warsh confirmation until probe into Powell ends. * Powell says he'll fill any leadership gap as 'pro tem' Fed chair. * Trump threatens to fire Powell if he stays on; president's right to do so is contested. By Ann Saphir.
BEIJING, April 16, 2026 The National Bureau of Statistics released economic data for the first quarter of the first year of the 15th Five-Year Plan period on Thursday, showing that China's GDP grew by 5.0 percent year-on-year, with major macroeconomic indicators rebounding and new growth drivers emerging rapidly, marking a good start for the national economy.
Uncertainty over the economic outlook for Switzerland has risen due to the conflict in the Middle East and global developments pose the main risk for inflation, minutes of the Swiss National Bank's latest rate-setting meeting showed on Thursday. "The main risk to the economic and inflation outlook for Switzerland stems from developments in the global economy," the central bank said in a statement.
Sterling rose slightly on Thursday after data showed the British economy grew rapidly in February and markets waited for more news about a possible peace deal in the U.S.-Iran war. The pound was last up 0.1% at $1.3575. The euro slipped against the British currency and was down 0.1% at 86.94 pence.
The Bank of England was "not going to rush to judgements" on interest rate rises, Governor Andrew Bailey told BBC News, as global central banks contend with an energy price shock driven by the Iran war.
* UK GDP rises 0.5% in February, much more than forecast. * Data suggest UK economy was in slightly better shape than feared. * But Iran war spoils outlook, with Britain vulnerable to fallout. * UK GDP set for another strong Q1, stoking data adjustment concerns. * ONS says it is confident in quality of its figures. By Andy Bruce.
Britain's economy grew by a better-than-expected 0.5% in the three months to February, official figures showed on Thursday. Economists polled by Reuters had forecast 0.2% growth in gross domestic product for the December-February period compared with the previous three months.
South Korean Finance Minister Koo Yun-cheol will hold a meeting with U.S. Treasury Secretary Scott Bessent on Friday, the Yonhap News Agency reported. Here are some details: * The two ministers will meet on the sidelines of the Group of 20 finance ministers and central bank governors meeting in Washington, D.C., Koo told reporters, according to Yonhap.
The Bank of Japan will raise its benchmark rate to 1.00% by end-June, with nearly two-thirds of economists in a Reuters poll predicting the move, and a hike this month or in June seen as equally likely amid uncertainty over the fallout from the Iran war.
* Japan, U.S. finance leaders met, discussed markets including FX. * Katayama says no discussion with Bessent on BOJ policy. * Many central banks appeared to favour wait-and-see stance. By Leika Kihara. Japan and the U.S. agreed to strengthen communication on exchange rates, Japanese Finance Minister Satsuki Katayama said after her meeting with U.S. Treasury Secretary Scott Bessent on Wednesday.
Japan and the U.S. agreed to strengthen communication on exchange rates, Japanese Finance Minister Satsuki Katayama said after her meeting with U.S. Treasury Secretary Scott Bessent on Wednesday.
* China's Q1 GDP growth picks up to 5.0% from Q4's 4.5% * Retail sales growth and industrial output cool in March. * Iran war raises growth risks, set to test policymaking. * More fiscal stimulus expected if exports falter. By Kevin Yao and Claire Fu.
China's industrial output rose 5.7% in March from a year earlier, slowing from 6.3% growth in January-February, as the fallout from the Iran war dampened momentum in the world's second-largest economy. The output data released by the National Bureau of Statistics beat expectations for a 5.5% rise in a Reuters poll of 36 analysts.
China's economy grew 5.0% in the first quarter from a year earlier, official data showed on Thursday, beating analysts' expectations as policymakers brace for the fallout from the Iran war. Analysts polled by Reuters had forecast the January-March quarter gross domestic product would expand 4.8% from a year earlier, compared with a 3-year low of 4.5% in the fourth quarter.
Australian employment rose broadly in line with expectations in March, while the jobless rate stayed low, but a war-driven global energy shock could test the labour market's resilience soon.
China's new home prices extended their decline in March, official data showed on Thursday, although major cities showed some month-on-month improvement. Weak demand continued to weigh on the property market.
Japan's yield curve steepened on Thursday as expectations of an imminent interest rate hike by the central bank diminished, while concerns over the Middle East crisis weighed on the economic outlook.
* Goldman's fixed-income, currencies and commodities division posted a 10% drop in Q1 revenue. * FICC division hit by slowdown in interest rate trading, mortgages and credit products. * JPMorgan (JPM), Citigroup (C) and Morgan Stanley (MS) posted strong FICC gains. By Saeed Azhar.
Japan and the U.S. agreed to intensify communication on exchange rates, Japanese Finance Minister Satsuki Katayama said after her meeting with U.S. Treasury Secretary Scott Bessent on Wednesday. Katayama, who is visiting Washington for the International Monetary Fund meeting as well as gatherings of the G7 and G20 finance leaders, made the remark on her X account.
Japan and the U.S. agreed to intensify communication on exchange rates, Japanese Finance Minister Satsuki Katayama said after her meeting with U.S. Treasury Secretary Scott Bessent on Wednesday. Katayama, who is visiting Washington for the International Monetary Fund meeting as well as gatherings of the G7 and G20 finance leaders, made the remark on her X account.
The number of Japanese firms that do not want the Bank of Japan to raise interest rates has risen sharply since the start of the year as the Iran war clouds the outlook for global growth and corporate earnings, a Reuters survey showed on Thursday.
* China's Q1 GDP growth forecast at 4.8%, picking up from Q4's 4.5% * Iran war raises growth and inflation risks, set to test policymaking. * March data to show slower factory output, retail sales. * Measured stimulus expected in 2026 as China targets 4.5-5% growth. * Q1 GDP, March data due 0200 GMT on Thursday. By Kevin Yao.
* Government to include larger share of court-ordered debt in fiscal target than required. * Effective primary surplus for 2027 projected at 0.1% of GDP due to off-target payments. * Gross public debt forecast to peak at 87.8% of GDP in 2029, then decline. By Marcela Ayres.
The approach currently adopted by Brazil's central bank of operating with caution amid rising uncertainties, which includes the U.S.-Israeli war on Iran, has paid off, Nilton David, the bank's monetary policy director, said on Wednesday.
The European Central Bank is in a "relatively favorable" position on monetary policy after having successfully brought down inflation to 2% before the war in the Middle East started, ECB board member Isabel Schnabel said on Wednesday.
The S&P 500 and the Nasdaq both logged record closing highs on Wednesday as investors assessed developments in the U.S.-Iran conflict and turned their focus to corporate earnings. Here are a few articles I recommend to help you make sense of what happened in markets today. 1. U.S. President Donald Trump said the war on Iran was nearing its conclusion amid a diplomatic push to continue peace talks.
Most Federal Reserve districts saw growth in economic activity since early March despite hostilities in the Middle East, the US central bank said in its latest Beige Book released Wednesday.
Brazil's government on Wednesday proposed a primary surplus target of 0.5% of gross domestic product for 2027 in its budget guidelines bill, confirming a figure previously signaled.
The approach currently adopted by Brazil's central bank of operating with cautiousness amid rising uncertainties, which includes the U.S.-Israeli war on Iran, has paid off, Nilton David, the bank's monetary policy director, said on Wednesday.
The Bank of Japan can see through inflationary pressures from the war in the Middle East as any second-round effects on broader prices will be limited, Rahul Anand, the International Monetary Fund's mission chief for Japan, told Reuters on Wednesday.
* IMF's mission chief for Japan sees limited second-round effect on prices from Iran war. * Inflation to converge toward BOJ target by end of 2027, Rahul Anand says. * No big pass-through on inflation from weak yen was seen in 2025, he says. * Anand says weak yen absorbed tariff shock, levels must be set by markets. By Leika Kihara.
High oil prices are likely to keep underlying inflation nearly a percentage point above the Federal Reserve's 2% target for the rest of this year, with the U.S. central bank likely needing to leave interest rates unchanged, St. Louis Fed President Alberto Musalem said on Wednesday.
US economic activity was up in most of the Federal Reserve Districts since the last Beige Book report, but there was weakness in some regions and energy price gains were widespread, the Federal Reserve's most recent update released Wednesday showed.
U.S. businesses and households still adjusting to the Trump administration's tariff policies also are reeling from a surge in energy prices due to the Iran war, a Federal Reserve report showed on Wednesday, even as it noted that economic activity in most of the country increased in recent weeks and employment was steady.
* Fed's 'Beige Book' cites war as major source of business uncertainty. * Business outlooks varied, report says. * Price growth seen as 'moderate,' but input cost pressures broaden beyond energy. By Ann Saphir.
U.S. Treasury Secretary Scott Bessent on Wednesday said he was optimistic that Kevin Warsh, President Donald Trump's nominee for Federal Reserve Chair, would assume the post on time. "He is going to have a hearing on the 21st of this month. "I am very optimistic that Kevin Warsh will be the Chair of the Fed on time," he said.
U.S. Treasury Secretary Scott Bessent on Wednesday told reporters he was optimistic that Kevin Warsh, President Donald Trump's nominee for Federal Reserve Chair, would assume the post "on time".
Thailand has not yet decided whether it will increase its internal ceiling on a key debt ratio, Finance Minister Ekniti Nitithanprapas said on Wednesday. Nitithanprapas, who is also the deputy prime minister, said the 70% for public debt-to-GDP was an internal ceiling.
Finance ministers from almost a dozen countries led by Britain called on the U.S., Israel and Iran to implement their ceasefire in full on Wednesday and said the conflict would weigh on the global economy and markets even if it was resolved soon.
The Bank of Canada delivered a dovish hold at its March policy meeting, said Morgan Stanley. The January Monetary Policy Report laid out a range of scenarios for the CUSMA trade deal renegotiation, framing it as the key risk for the Canadian economy going forward.
The International Monetary Fund's latest World Economic Outlook arrives in a period when a rapidly changing geopolitical backdrop makes economic and fiscal projecting, already difficult in the most 'normal' of times, even more challenging, said National Bank of Canada.
The global economy is about to feel the full economic impact of the Iran war, Qatar's finance minister said on Wednesday, but headded that his country's finances would be able to ride out the problems for at least a year.
President Donald Trump said he would fire Federal Reserve Chair Jerome Powell if he does not resign after his term as head of the central bank ends in May. Trump made a similar threat against Fed Gov. Lisa Cook before attempting to fire her last August.
* ECB supervisors gathering information about Mythos, source says. * Mythos seen as major cybersecurity threat by experts, prompting global regulatory concern. * Trump acknowledges AI risks to banking system. * British government warns businesses about cyberattack threats. By Francesco Canepa.
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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