Tag: Basis point

  • The Swedish krona weakens against the euro against the backdrop of an expected Riksbank interest rate increase

    The Swedish krona weakens against the euro against the backdrop of an expected Riksbank interest rate increase

    STOCKHOLM, Sweden: Days before the Riksbanken, Sweden’s central bank, is expected to raise interest rates again, the Swedish krona hit a record low against the euro this week. From September 15, the euro hit 11.995 against the Swedish currency, up around 0.6 percent. This year, the krona has been hit hard against the euro, losing…

  • Major EU economies report mixed Q2 performances amid high inflation

    Major EU economies report mixed Q2 performances amid high inflation

    © Provided by Xinhua According to data firm Statista, the inflation rate in the EU was 6.4 percent in June, with prices rising fastest in Hungary, which had an inflation rate of 19.9 percent. The inflation rates in France, Germany, Ireland, and Sweden stood at 5.3 percent, 6.8 percent, 4.8 percent and 6.3 percent, respectively.…

  • Türkiye delivers another interest rate hike to tackle the inflation problem

    Türkiye delivers another interest rate hike to tackle the inflation problem

    © Provided by Xinhua by Burak Akinci ANKARA, July 20 (Xinhua) — Turkey’s central bank on Thursday delivered a second rate hike in two months to combat high inflation, a fresh sign of adherence to orthodox monetary policy, experts said. The bank’s monetary policy committee said in a statement that it had decided to raise…

  • The US dollar softens ahead of key US inflation measurements

    The US dollar softens ahead of key US inflation measurements

    NEW YORK, July 10 (Xinhua) — The U.S. dollar weakened on Monday as investors looked forward to a key U.S. inflation report. The dollar index, which measures the greenback against six major peers, fell 0.30 percent to 101.9780 in late trade. Markets are eagerly awaiting key US inflation prints later this week, with the core…

  • The US dollar rises as currency traders weigh the outlook for interest rates

    NEW YORK, March 8 (Xinhua) — The U.S. dollar edged higher in late trading on Wednesday as market participants gauged the Federal Reserve’s rate hike course. The dollar index, which measures the greenback against six major peers, rose 0.06 percent to 105.6598 in late trade. In late New York trading, the euro was down to…

  • US dollar falls after Fed minutes

    NEW YORK, Jan. 4 (Xinhua) — The U.S. dollar fell in late trading on Wednesday as market participants digested the Federal Reserve’s latest meeting minutes. The dollar index, which measures the greenback against six major peers, fell 0.25 percent to 104.2430. In late New York trading, the euro rose to US$1.0605 from US$1.0566 in the…

  • US dollar jumps ahead of Fed minutes

    NEW YORK, Jan. 3 (Xinhua) — The U.S. dollar rose in late trading on Tuesday as market participants awaited the Federal Reserve’s meeting minutes. The dollar index, which measures the dollar against six major peers, jumped 0.95 percent to 104.5070. The euro fell to US$1.0566 from US$1.0699 in the previous session, and the British pound…

  • Eurozone bailout fund serves no purpose: Italy’s Meloni

    Eurozone bailout fund serves no purpose: Italy’s Meloni

    ROME, Italy: Italian Prime Minister Giorgia Meloni has said the eurozone bailout fund serves no useful purpose, and has told the European Central Bank (ECB) to be more careful in how it communicates. In a three-hour press conference at the end of the year, Meloni, leader of the hard-right Brothers of Italy party, said, “The…

  • The US dollar rises as government interest rates rise

    NEW YORK, Dec. 28 (Xinhua) — The U.S. dollar appreciated in late trade on Wednesday amid upward momentum in Treasury yields. The dollar index, which measures the greenback against six major peers, rose 0.31 percent to 104.4770. In late New York trading, the euro fell to US$1.0615 from US$1.0645 in the previous session, and the…

  • The US dollar rises amid hawkish central bank signals

    NEW YORK, Dec. 16 (Xinhua) — The U.S. dollar rose in late trade on Friday as market participants digested statements from major central banks. The dollar index, which measures the greenback against six major peers, rose 0.14 percent to 104.7030, after a 0.76 percent jump in the previous session. In late New York trading, the…

  • US dollar firms after the Fed’s policy announcement

    NEW YORK, Dec. 15 (Xinhua) — The U.S. dollar strengthened in late trade on Thursday, driven by hawkish messages from the Federal Reserve. The Fed on Wednesday raised interest rates by 50 basis points and set the target range for the federal funds rate at 4.25 percent to 4.5 percent, the highest level in 15…

  • US dollar falls after Fed decision

    NEW YORK, Dec. 14 (Xinhua) — The U.S. dollar weakened in late trading on Wednesday as market participants digested the Federal Reserve’s latest interest rate decision. The Fed raised interest rates by 50 basis points on Wednesday, after announcing four straight 75 basis point hikes at its recent meetings, in an effort to curb inflation.…

  • US dollar strengthens as traders bet on hawkish Fed

    NEW YORK, Nov. 17 (Xinhua) — The U.S. dollar appreciated in late trade Thursday as market participants digested the latest comments from Federal Reserve officials. The dollar index, which measures the greenback against six major peers, rose 0.39 percent to 106.6930. In late New York trading, the euro fell to US$1.0368 from US$1.0394 in the…

  • US dollar falls ahead of key inflation report

    NEW YORK, Nov. 8 (Xinhua) — The U.S. dollar weakened in late trade on Tuesday as market participants awaited a key U.S. inflation report. The dollar index, which measures the greenback against six major peers, fell 0.44 percent to 109.6390. In late New York trading, the euro was up at US$1.0077 from US$1.0028 in the…

  • Sweden’s GDP forecast is adjusted downward for next year

    STOCKHOLM, Nov. 7 (Xinhua) — Nordea, one of the largest banks in the Nordics, has sharply lowered its forecast for Sweden’s gross domestic product (GDP) for 2023 to minus 1.8 percent from minus 0.5 percent two months ago in Economic overview. Weaker domestic developments, dramatically tightened financial conditions with higher interest rates and inflation eating…

  • The US dollar soars after the hawkish Fed stance

    NEW YORK, Nov. 3 (Xinhua) — The U.S. dollar rose in late trade on Thursday, after the Federal Reserve approved another big interest rate hike and signaled more hikes to come. The dollar index, which measures the dollar against six major peers, rose 1.4 percent to 112.9260. In late New York trading, the euro fell…

  • The US dollar falls after the Fed approves another jumbo interest rate hike

    NEW YORK, Nov. 2 (Xinhua) — The U.S. dollar weakened in late trading on Wednesday as market participants digested the Federal Reserve’s latest interest rate announcement. The dollar index, which measures the greenback against six major peers, fell 0.1 percent to 111.3650. In late New York trading, the euro was unchanged from the previous session…

  • Right now: That’s why the US central bank triples the key interest rate

    Right now: That’s why the US central bank triples the key interest rate

    For the fourth time this year, the US central bank, the Federal Reserve, Fed, triples the key interest rate by 75 basis points. Fed chief Jerome Powell holds a press conference on how the central bank reasoned. Ekot broadcasts directly. Hear Elisabet Kopelman, economist and US analyst at the bank SEB.

  • The US dollar rises ahead of the Fed meeting

    NEW YORK, Oct. 31 (Xinhua) — The U.S. dollar rose in late trade Monday as market participants awaited a key meeting with the Federal Reserve. The dollar index, which measures the greenback against six major peers, climbed 0.7 percent to 111.5280. In late New York trading, the euro fell to US$0.9887 from US$0.9958 in the…

  • US dollar rises amid ECB decision, economic data

    NEW YORK, Oct. 27 (Xinhua) — The U.S. dollar appreciated in late trade Thursday as market participants analyzed a key European Central Bank (ECB) decision and recently released economic data. The dollar index, which measures the greenback against six major peers, rose 0.81 percent to 110.5870. In late New York trading, the euro was down…

  • The Governor of the Bank of Finland warns of a serious economic disruption

    The Governor of the Bank of Finland warns of a serious economic disruption

    Stagflation refers to slow economic growth and high unemployment as well as constantly rising consumer prices. In September, the ECB estimated that the euro area economy could contract by 0.9 percent in 2023 if Russia stops selling natural gas and oil transported by sea to Europe and Europe does not find alternative sources of supply.…

  • Euro falls to new 20-year low after Russia shuts off gas supplies

    Euro falls to new 20-year low after Russia shuts off gas supplies

    BERLIN, Germany: After Russia cut off gas supplies running through its main pipeline to Europe this week, the euro fell to a new 20-year low below $0.99, sparking fears of a deepening energy crisis in the region. In recent months, the euro has become increasingly correlated with natural gas prices, falling when the price of…

  • Roundup: Record inflation slows Sweden’s economy

    STOCKHOLM, July 28 (Xinhua) — Already at its 30-year high, inflation continues to hit new records in Sweden as food, electricity and fuel prices have soared in recent months, partly due to the conflict in Ukraine and sanctions against Russia. Data recently published by Statistics Sweden showed that the country’s 12-month inflation reached 8.5 percent…

  • Record inflation slows Sweden’s economy

    Record inflation slows Sweden’s economy

    © Provided by Xinhua The data in June showed that the prices of food, electricity and fuel were increased by 11.2 per cent, 39.8 per cent and 54.2 per cent respectively from the year before. Basic consumer goods such as meat, milk, cheese, eggs, coffee and bread contributed the most to inflation, with the price…

  • Right now: The Riksbank is issuing an interest rate announcement – it is expected to raise the interest rate

    Right now: The Riksbank is issuing an interest rate announcement – it is expected to raise the interest rate

    Today comes the Riksbank’s announcement of a possible interest rate increase. In March, the Riksbank raised the key interest rate by 0.25 percentage points and at the same time raised the interest rate forecast sharply. Inflation has continued to rise since the latest interest rate announcement, and several analysts therefore believe that the interest rate…

  • The US dollar is rising against the strongest CPI growth since 1982

    NEW YORK, FEBRUARY 10 (Xinhua) – The US dollar rose in late trading on Thursday due to higher-than-expected inflation. The dollar index, which measures the dollar against six major comparable competitors, rose 0.06 percent to 95.5530 in late trading. The US Consumer Price Index (CPI) for January 2022 showed 7.5 percent of growth on an…

  • Xinhua World Economic News Summary at 0900 GMT, March 16

    SEOUL – South Korea’s import price rose for three straight months in February due to expensive crude oil, the central bank’s data showed on Tuesday. The import price index amounted to 105.53 in February, an increase of 3.8 percent from the previous month, according to the Bank of Korea (BOK). (South Korea import price) –…