Argentina's economic activity down 8.4% in March, biggest drop since 2020

The Canadian Press
Macklem says low productivity growth is Canada’s ‘Achilles heel,’ calls for action
OTTAWA — Bank of Canada governor Tiff Macklem is sounding the alarm on Canada’s productivity problem and urging policymakers to dig into why the country struggles with low business investment.
The Canadian Press
China's premier slams trade tensions as EV exports are hit by tariffs
TAIPEI, Taiwan (AP) — Open markets and green technologies are vital for stabilizing global growth, China's premier said Tuesday, while criticizing trade tensions as he opened a conference in northeastern China.
Bloomberg
Macklem: BOC Can Beat Inflation Without Unemployment Spike
(Bloomberg) -- Bank of Canada Governor Tiff Macklem said the country’s economy is headed for a soft landing, suggesting the central bank expects the unemployment rate to rise but that a large increase isn’t needed to achieve the inflation target.Most Read from BloombergNvidia’s 13% Stock Rout Has Traders Scouring Charts for SupportBuzzFeed Struggles to Sell Owner of Hit YouTube Show ‘Hot Ones’Jain Global Raises $5.3 Billion, Secures Cash From Abu DhabiHow Long Can High Rates Last? Bond Markets S
Global News
Business Matters: Inflation data has big implications for Bank of Canada. Here’s what to expect
The Bank of Canada will be scrutinizing May inflation figures this week, as it gauges whether it can deliver back-to-back interest rate cuts. Anne Gaviola has this story and more in Business Matters for Monday, June 24, 2024.
Reuters
C$ climbs to 3-week high as BoC eyes soft landing
The Canadian dollar strengthened to a near three-week high against its U.S. counterpart on Monday as investors took stock of recent broad-based gains for the greenback and the Bank of Canada said the economy could grow as inflation cools. "We are seeing a little bit of position squaring," said Michael Goshko, senior market analyst at Convera Canada. The U.S. dollar pulled back from a seven-week against a basket of major currencies, while the price of oil, one of Canada's major exports, settled 1.1% higher at $81.63 a barrel.
Business Insider
What rate cut? The Fed's next move could be a hike if inflation stays stubbornly high, legendary investor says
Given how low last year's inflation was, CPI data might rebound in the latter half of this year. That could mean further rate hikes, Rob Arnott said.
Canadian Press Videos
Newsroom Ready: Freeland says Canada is looking at surtax on Chinese EVs
Finance Minister Chrystia Freeland says Canada is investigating whether to impose a surtax on imports of Chinese-made electric vehicles. She says a 30-day consultation on the issue will begin July 2 to counter what she says is a clear effort by Chinese companies to generate a global oversupply of EVs. (June 24, 2024)
South China Morning Post
Singapore pips Hong Kong as world's most expensive city to live 'extremely well'
Increased spending by Hong Kong's wealthy residents pushed the city one notch higher in terms of the "cost of living extremely well", making it the world's second-most expensive metropolis, according to a Julius Baer report on Tuesday. Singapore retained the title, with London and Shanghai in third and fourth place, respectively. Monaco rounded out the top five. Shanghai dropped one spot from last year while London climbed one place. The Swiss bank's fourth annual global wealth and lifestyle rep
CBC
Inflation ticked up to 2.9% in May
Canada's annual inflation rate edged up to 2.9 per cent in May — an increase from 2.7 per cent in April — mostly due to higher prices for services, Statistics Canada said on Tuesday.Some of the increase was typical of the season. Prices for cellular services, rent, travel tours and air transportation grew at a faster pace, according to the data agency.Travel tour prices were up 6.9 per cent and air transportation prices up 4.5 per cent from the same time a year prior, both boosted by travel to a
INSIDER
Trade between the US and Germany is growing. Concerns over China might be driving the shift.
The US became Germany's top trading partner, ending an eight-year streak by China. The shift reflects competition over electric vehicles.
South China Morning Post
Chinese premier rebuffs 'bloc confrontation', talks up open markets in 'Summer Davos' address
Premier Li Qiang spoke out against efforts from the West to "decouple" their economies from China and engage in "bloc confrontation", part of a high-profile address that also served as a tenacious defence of the country's new energy sector against accusations of overcapacity that have become prolific in recent months. Speaking at the World Economic Forum's (WEF) Annual Meeting of the New Champions - also known as Summer Davos - on Tuesday, Li affirmed that China's market would remain open, Beiji
Bloomberg
US Approves Freddie Mac Pilot Program to Buy Second Mortgages
(Bloomberg) -- US regulators have authorized a pilot program for housing giant Freddie Mac to buy second mortgages, a shift that could ultimately make it cheaper for households to borrow against the equity in their homes. Most Read from BloombergJain Global Raises $5.3 Billion, Secures Cash From Abu DhabiBuzzFeed Struggles to Sell Owner of Hit YouTube Show ‘Hot Ones’How Long Can High Rates Last? Bond Markets Say Maybe ForeverNvidia’s 13% Stock Rout Has Traders Scouring Charts for SupportTech Hit
The Canadian Press
Food inflation ticks higher in May for first time in nearly a year
Higher grocery prices continue to wallop Canadian household budgets, with food inflation ticking higher in May for the first time in nearly a year.
Bloomberg
Next Indonesia Leader Signals Restraint With Spending Deal
(Bloomberg) -- Indonesia President-elect Prabowo Subianto has agreed with the outgoing administration to allocate 71 trillion rupiah ($4.3 billion) for his free meal program for school children, a move that won’t blow the budget deficit cap and seeks to allay market concerns of expansionary spending. Most Read from BloombergHow Long Can High Rates Last? Bond Markets Say Maybe ForeverJain Raises $5.3 Billion in Biggest Hedge Fund Debut Since 2018Nvidia Sales Grow So Fast That Wall Street Can’t Ke
Barrons.com
Fed Official Says High Interest Rates Still Needed to Lower Inflation
For now, interest rates aren’t going anywhere, San Francisco Federal Reserve President Mary Daly said in a speech.
The Independent
Where do all the parties stand on tax cuts and spending – and are their manifestos fully costed?
Everything you need to know about the tax cuts proposed in the 2024 manifestos – and how they’re costed
Bloomberg
With Macron Distracted, Germany Shuts Down Push for Joint EU Debt
(Bloomberg) -- The German government and its allies are succeeding in their efforts to block plans for new joint borrowing to finance critical European Union projects like defense.Most Read from BloombergYouTuber Dr Disrespect Was Allegedly Kicked Off Twitch for Messaging MinorNvidia Rout Takes Breather as Traders Scour Charts for SupportTrump Could Actually Lose Florida. Here’s Why.BuzzFeed Struggles to Sell Owner of Hit YouTube Show ‘Hot Ones’Paul Singer Is Pitching Wall Street's Own Brand of
Reuters
BOJ debated need for timely rate hike, signals chance of July action
TOKYO (Reuters) -The Bank of Japan debated in June the chance of a near-term interest rate hike with one policymaker calling for an increase "without too much delay" to address risks of inflation overshooting expectations, a meeting summary showed on Monday. The discussion highlights the board's growing awareness over heightening inflationary pressure in the world's fourth-largest economy, which could prod the BOJ to debate raising interest rates as early as its next policy meeting on July 30-31. The yen's recent declines have heightened the possibility of an upward revision to the BOJ's inflation forecasts, which means the appropriate level of its policy rate could move higher, one member was quoted as saying at the June 13-14 policy meeting.
Reuters
Bank of Canada: economy can add jobs and growth even as inflation slows
There is enough slack in the Canadian labor market to allow for growth and the creation of more jobs even as the inflation rate continues to decline, Bank of Canada Governor Tiff Macklem said on Monday. Earlier this month the central bank trimmed its key policy rate for the first time in more than four years and said more cuts were likely if inflation continued to show it was on a sustainable path back down to the 2% target. Macklem told the Winnipeg Chamber of Commerce that some people, in particular younger workers and newcomers, were finding it harder to obtain employment.
CNN Business
Americans felt shakier about the economy in June
US consumer confidence teetered slightly in June as Americans grew a little more wary about the future, new data released Tuesday showed.

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Argentina's economic activity down 8.4% in March, biggest drop since 2020

Latest Stories

Macklem says low productivity growth is Canada’s ‘Achilles heel,’ calls for action

China's premier slams trade tensions as EV exports are hit by tariffs

Macklem: BOC Can Beat Inflation Without Unemployment Spike

Business Matters: Inflation data has big implications for Bank of Canada. Here’s what to expect

C$ climbs to 3-week high as BoC eyes soft landing

What rate cut? The Fed's next move could be a hike if inflation stays stubbornly high, legendary investor says

Newsroom Ready: Freeland says Canada is looking at surtax on Chinese EVs

Singapore pips Hong Kong as world's most expensive city to live 'extremely well'

Inflation ticked up to 2.9% in May

Trade between the US and Germany is growing. Concerns over China might be driving the shift.

Chinese premier rebuffs 'bloc confrontation', talks up open markets in 'Summer Davos' address

US Approves Freddie Mac Pilot Program to Buy Second Mortgages

Food inflation ticks higher in May for first time in nearly a year

Next Indonesia Leader Signals Restraint With Spending Deal

Fed Official Says High Interest Rates Still Needed to Lower Inflation

Where do all the parties stand on tax cuts and spending – and are their manifestos fully costed?

With Macron Distracted, Germany Shuts Down Push for Joint EU Debt

BOJ debated need for timely rate hike, signals chance of July action

Bank of Canada: economy can add jobs and growth even as inflation slows

Americans felt shakier about the economy in June