The most consequential test of the Federal Reserve's independence in more than a century of existence comes before the U.S. Supreme Court this week, with the focus on whether the justices will shield the world's most important central bank from political influence, as Congress intended, or allow President Donald Trump to clean house as he sees fit.
The most consequential test of the Federal Reserve's independence in more than a century of existence comes before the U.S. Supreme Court this week, with the focus on whether the justices will shield the world's most important central bank from political influence, as Congress intended, or allow President Donald Trump to clean house as he sees fit.
Industrial giant 3M (MMM) posted ?an increase in ?fourth-quarter profit ?on ?Tuesday, ?driven by its improving ?profit ?margins even as ?sticky ?inflation ?weighed on consumer demand. The company's ?adjusted profit stood at $1.83 per share during ?the ?period, compared ?with $1.68 per share a year earlier.
The U.S. Supreme Court signaled four months into Donald Trump's second presidential term last year its interest in shielding the Federal Reserve from political interference.
* Trump steps up push to take control of Greenland. * Market reaction less severe than after "Liberation Day" tariffs, Amundi says. * US Treasury yields spike, spreads steepen. By Elizabeth Howcroft.
Russia's central bank is monitoring the situation with rising prices in the country and taking measures to maintain stability, the Kremlin said on ?Tuesday when asked about the inflationary impact of a rise in valued-added ?tax.
Greece's current account deficit narrowed to ?2.08 billion ?euros ?in November, ?from 3.34 ?billion euros during ?the ?same month a year ?earlier, ?driven by ?a higher surplus in services ?and a reduced deficit in the goods ?balance, ?according to data ?from the Bank of Greece released on Tuesday.
Crisis Text Line, a leading nonprofit organization that provides free, 24/7, confidential mental health support, today released The Hidden Economic Value of Online Crisis Volunteers, a new global study led by the organization that quantifies the economic footprint of trained volunteer online crisis counselors operating at scale across multiple countries.
* US threatens tariffs on European states over Greenland. * China reports better-than-expected fourth-quarter GDP data. * Kazakhstan's Tengizchevroil halts production. By Nicole Jao. Oil prices rose on Tuesday on the temporary suspension of output at Kazakhstan's oil fields and expectations of firmer global economic growth that could drive fuel demand.
Indonesia's rupiah hit an all-time low against the U.S. dollar on Tuesday, even as the dollar index slid, amid renewed worries about central bank independence after the president picked his nephew among nominees for a senior central bank job. The rupiah has fallen nearly 2% against the dollar in January, placing it among the worst performing emerging Asian currencies, after dropping 3.5% in 2025.
The Bank of Japan is expected to raise its growth forecast on Friday and signal its readiness to hike interest rates further, as recent yen falls and prospects of solid wage gains keep policymakers alert to containing inflationary pressure.
Oil prices rose on Tuesday as investors monitored U.S. President Donald Trump's tariff threats against European states that oppose his push to acquire Greenland. Prices also drew support from the temporary suspension of output at Kazakhstan's oil fields and expectations of firmer global economic growth that could drive fuel demand.
* China reported better-than-expected Q4 GDP data. * US threatening tariffs on European countries over its desire to buy Greenland. * Tariff threats have weakened US dollar, supporting oil price.
Four in five workers believe artificial intelligence is going to impact their daily tasks at the workplace, with Gen Z among those most concerned as companies increasingly rely on AI chatbots and automation, a survey conducted by Randstad ?showed on Tuesday.
* TSX ends up 0.2% at 33,090.96. * CPI rises 2.4% year-over-year. * Materials group gains 2.2% as gold hits record high. * Technology ends 1.3% lower. By Ragini Mathur and Fergal Smith.
Canada's main stock market on Monday set its eight record close of 2026, with the resources heavy Toronto Stock Exchange buoyed by precious metals prices, and overcoming a mixed response to December inflation data and the release of business and consumer sentiment surveys from the Bank of Canada.
DAVOS, Switzerland, Jan. 19, 2026 A leader in value-based care in the autism industry, Catalight is on the ground at the 2026 World Economic Forum in Davos to advance a new vision for intellectual and developmental disability care that is outcome-driven, sustainable and built to address today's complex needs.
Euro zone finance ministers on Monday chose Croatia's Boris ?Vujcic, a trained ?economist and head of ?the central bank, ?as ?the European Central Bank's ?next vice president, ?EU officials said. Vujcic, 61, now ?serving his ?third ?six-year term as head of Croatia's central bank, ?had overseen his country's entry into the euro zone as its ?20th ?member.
Canadian consumer prices fell 0.2% month over month in December, but that translates to a 0.3% month-over-month rise in seasonally adjusted terms as prices are normally cut late in a year, sid Bank of Montreal.
The Bank of Canada's Business Outlook Survey overall indicator improved slightly in Q4 but remained subdued at -1.78, said TD after Monday's data. The share of firms anticipating a recession eased to 22% from 33% in the previous quarter, noted the bank. Investment intentions improved modestly in Q4.
Federal Reserve Chair ?Jerome ?Powell will attend ?the U.S. ?Supreme ?Court's ?oral ?arguments on Wednesday in ?a ?case ?about Trump's attempt to ?fire Fed Governor Lisa ?Cook, the ?Associated Press ?reported on Monday.
Canada's headline consumer price index growth rose to 2.4% year over year in December from 2.2% in November, with the increase largely driven by higher indirect taxes, with prior-year levels lowered artificially by a temporary GST/HST holiday in place from mid-December 2024 to mid-February 2025, said RBC.
The Bank of Canada Monday released the Canadian Survey of Consumer Expectations, for the fourth quarter of 2025, highlighting that concerns over high prices and economic uncertainty related to the trade conflict continue to have a negative impact on consumers.
Canadian business sentiment remains subdued amid trade tensions with the United States, and firms only expect modest sales growth in the year ahead, a Bank of Canada fourth quarter survey showed ?on Monday. The quarterly business outlook survey also showed that 21% of firms plan to cut ?workers in the year ahead, the highest level since the 22% seen ?in the second quarter of 2016.
After Thursday's weak Canadian existing home sales data, the country was on the receiving end of another real estate data the day after, with housing starts bouncing by 10.9% month over month to 282,400 units at an annual rate in December -- beating expectations of a 260,000 unit reading, said Rosenberg Research.
Bond yields were little changed by Monday's consumer price index data, which did little to change expectations for Bank of Canada policy setting, said CIBC. Headline CPI contracted 0.2% month-over-month non-seasonally adjusted, while rose 0.3% month-over-month seasonally adjusted and 2.4% year over year, with both of those readings slightly above consensus expectations, noted the bank.
Brazil's Finance Minister Fernando Haddad said on Monday that central bank ?Governor Gabriel Galipolo inherited a ?series of problems from ?his predecessor, Roberto Campos ?Neto, including ?issues tied to the recently liquidated ?lender Banco ?Master.
A "slightly hotter-than-anticipated" headline Canadian CPI print for December "masks a cooling in underlying inflationary pressures", said Royce Mendes at Desjardins on Monday. According to Mendes, Desjardins continues to believe inflationary pressures are "tame enough" for the Bank of Canada to place less weight on the upside risks to consumer prices.
Canadian inflation was a little stronger than expected in December, although not by enough to concern the Bank of Canada, said CIBC after Monday's release of the consumer price index. Headline CPI was -0.2% month over month on a non-seasonally adjusted basis, or +0.3% seasonally adjusted and 2.4% year over year, with both of those readings slightly above consensus expectations.
The Canadian consumer price index rose 2.4% on a year-over-year basis in December, following a 2.2% increase in November, said the country's statistical agency on Monday. December's CPI was higher than the 2.2% year over year consensus provided by MUFG.
The Bank of Canada's Business Outlook Survey and the country's consumer price index inflation data are both out on Monday, said TD. Consensus expectations are for inflation to soften on a month-on-month basis, while remaining steady year-on-year, noted the bank. This report is unlikely to move the needle for the BoC and TD expects it to remain on hold for the time being.
Canada will refresh the consumer price index figures for December at 8:30 a.m. E.T. on Monday, said Scotiabank. The signal that the Bank of Canada is on hold for an extended period is clearly communicated, noted Scotiabank. Consensus is looking for a 0.3% month-over-motn seasonally unadjusted dip in CPI as per the polling convention, stated the bank.
It's a data-filled week for Canada after the recent run of indicators left much to be desired, said Bank of Montreal. Monday at 8:30 a.m. ET, consumer price index inflation looks to fall month-over-month, thanks in part to a plunge in gasoline prices in December, noted the bank.
Canada is scheduled to publish the consumer price index data for December at 8:30 a.m. ET on Monday, said National Bank of Canada. In Canada, the main event will be the publication of the CPI for December, noted the bank. The drop in gasoline prices could translate into a 0.6% month-over-month decrease in headline inflation during the month not seasonally adjusted, stated National Bank.
Canada will release the consumer price index data for December at 8:30 a.m. ET on Monday, said RBC. The bank expects headline inflation to trend broadly sideways in December, matching the 2.2% year-over-year in November. An 8% drop in December gasoline prices should push energy prices further below a year ago, pointed out the bank.
The Reserve Bank of India is urging the government to put a plan to link BRICS nations' central bank digital currencies on the agenda for the 2026 summit it will host.
The most consequential test of the Federal Reserve's independence in more than a century of existence comes before the U.S. Supreme Court this week, with the focus on whether the justices will shield the world's most important central bank from political influence, as Congress intended, or allow President Donald Trump to clean house as he sees fit.
* US Supreme Court to hear Trump's case against Fed Governor Cook. * Ruling could impact Fed's independence from political influence. * Analysts fear central bank's political insulation could be weakened. By Howard Schneider.
Euro zone finance ministers aim to nominate on Monday a successor to European Central Bank Vice President Luis de Guindos, whose term expires at the end of May, with six candidates vying for the ?job. The six are Portugal's Mario Centeno, Latvia's Martins Kazaks, Estonia's Madis Muller, Finland's Olli ?Rehn, Lithuania's Rimantas Sadzius and Croatia's Boris Vujcic.
Private equity firm Everstone will sell its entire 11.26% stake in Burger King's India and Indonesia franchisee Restaurant Brands Asia, ?as part of a deal to be announced on Tuesday, two people ?with direct knowledge of the matter said. Everstone Capital's stake, ?through its investment vehicle QSR Asia Pte ?Ltd, is valued ?at $57 million currently, according to Refinitiv data.
The International Monetary Fund again edged its 2026 global growth forecast higher on Monday as businesses and economies adapt to U.S. tariffs that have eased in recent months and a continued AI investment boom that has fueled asset wealth and expectations of productivity gains.
The International Monetary Fund on Monday slightly revised up Japan's economic growth forecast for 2026, reflecting a boost from the ?government's fiscal stimulus package. Japan's economy will likely expand 0.7% ?this year, the IMF said in an updated ?World Economic Outlook, up 0.1 ?percentage point from ?its previous forecast but slower than a 1.1% ?increase in 2025.
* IMF forecasts 2026 global GDP growth at 3.3% even with stronger 2025 performance. * AI investment, tax breaks and lower tariffs fuel US growth upgrade-IMF. * IMF sees downside risks from trade flareups, AI-driven market correction. * By David Lawder.
The International Monetary Fund revised its estimate for 2026 global growth higher in its most recent World Economic Outlook released on Monday, now matching the pace seen in 2024 and 2025. Most regions saw upward adjustments for 2026 but few changes to forecasts for 2027. "This steady performance on the surface results from the balancing of divergent forces," the IMF said.
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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