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The central bank place will more emphasis on developments that could upend its expectations and less on forecasts that convey too much certainty about the future.
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Paul Hannon
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Tag: economic news
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BOE to Embrace Uncertainty, and Bernanke’s Guidance, With Communications Revamp
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China Factory Activity Gauge Signals Deepening Manufacturing Gloom
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Economic momentum continued to weaken for the world’s second-largest economy, with a manufacturing gauge signaling mounting headwinds.
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The Long Road to a U.S.-China Trade Pact
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In March, Sen. Steve Daines traveled to Beijing with a group of American chief executives in hopes of calming a tense trade relationship between the world’s two largest economies.
Weeks earlier, President Trump had added an additional 20% in tariffs on China over what he said was its role in the fentanyl trade. The Montana senator and close Trump ally, who lived in China and Hong Kong for six years in the 1990s as an executive for Procter & Gamble, saw an opening to smooth things over.
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Gavin Bade
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Trump Meets Xi for High-Stakes U.S.-China Summit
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BUSAN, South Korea—President Trump and Chinese leader Xi Jinping met face-to-face for the first time in six years in an attempt to find a truce in a bruising fight between the two superpowers over trade and technology.
The two leaders convened at the airport in this South Korean port city late Thursday morning local time. As they shook hands, Trump said it’s “good to see you again,” and added, “We’re going to have a very successful meeting, I have no doubt. But he’s a very tough negotiator, that’s not good.”
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[ad_2] Josh Chin
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Bank of Canada Exhausts Tools to Help Tariff-Battered Economy
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OTTAWA—The Bank of Canada signaled it has emptied its toolbox to help an economy hurting from the trade row with the U.S.
Canada’s central bank cut its main interest rate on Wednesday, to 2.25%, and said the rate is “at about the right level” to keep inflation intact at its 2% target. It’s taking this approach even though its own economic outlook is bleak over the next two years.
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Paul Vieira
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Trump Tells Asia Allies: It’s Your Turn to Boost Military Spending
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GYEONGJU, South Korea—Amid the pageantry and backslapping, President Trump’s weeklong Asian swing drew attention to a sour point for allies: The U.S. demand that they spend more to respond to a rising threat of Chinese aggression.
Washington first pressured Europeans to boost their military budgets shortly after Trump took office in January. That push ultimately proved successful, with many allies pledging to increase spending.
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[ad_2] Alexander Ward
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As Trump and Xi Get Set to Talk Trade, Asia Worries About Impact on Its Security
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President Trump put the world on notice in his first term that the U.S. was preparing for an era of intensified military and economic competition with Beijing.
But as he left for his first trip to Asia since returning to the White House, striking a new trade deal with Chinese leader Xi Jinping has moved to the top of Trump’s agenda, spurring apprehensions among allies that the dealmaking might come at their expense.
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[ad_2] Michael R. Gordon
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Milei’s Overhaul of Argentina Has Another Problem: He Isn’t Great at Politics
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Argentine President Javier Milei’s problem heading into midterm elections Sunday isn’t just the pain caused by his radical free-market experiment. It is that, for all the force of his personality, he hasn’t mastered the art of politics.
Milei has alienated so many important allies that, even though his Freedom Advances party is set to double its share of congressional seats, he might not win a big-enough coalition to govern, protect his veto or avoid impeachment.
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Ryan Dubé
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Russia’s Central Bank Cuts Key Rate as New Sanctions Loom
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Russia’s central bank on Friday lowered its key interest rate for a fourth straight meeting as an already slowing economy braces for the impact of fresh sanctions from the U.S. and the European Union in response to President Vladimir Putin’s continued war on Ukraine.
The Bank of Russia cut its key rate to 16.5% from 17%, having begun to lower borrowing costs from a recent peak of 21% in June. The move was smaller than previous cuts.
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Paul Hannon
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Has Argentina Really Changed? Soon, We Will Find Out
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BUENOS AIRES—The adage “The most dangerous words in investing on Wall Street are ‘It’s different this time’” could have been coined to describe Argentina. For 50 years, it repeatedly convinced international lenders it had changed its ways, only to slide back into default, instability and inflation.
This Sunday, Argentines will demonstrate whether this time really is different. Midterm elections will decide whether President Javier Milei’s radical economic reform will continue.
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[ad_2] Greg Ip
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U.K. Inflation Unexpectedly Holds Steady
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The U.K.’s annual rate of inflation in September unexpectedly held at the pace of the previous month, raising the chance that Bank of England policymakers could cut interest rates later this year, despite price rises remaining at a level still well above the central bank’s target.
Consumer prices were up 3.8% compared with the same month of last year, the Office for National Statistics said Wednesday, almost double the central bank’s 2% target and the same rate as August. Economists polled by The Wall Street Journal expected a higher rate of 4.0%.
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Ed Frankl
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