Slowing Inflation Primes G-7 Central Banks for June
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
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Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts.
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
The owner of a historic office building in Manhattan’s Financial District has filed bankruptcy to sell the property, which has been subject to foreclosure and suffered from a lack of tenants due to the Covid-19 pandemic.
Aug 11, 2016
Reuters
OTTAWA - Canadian new housing prices edged higher in June, adding on to the previous month's robust acceleration as the hot markets of Toronto and Vancouver saw costs increase again, data from Statistics Canada showed on Thursday.
The new housing price index was up 0.1 per cent in June, falling short of economists' expectations for a 0.3 per cent gain. Prices had increased by 0.7 per cent in May, the fastest pace in almost nine years.
The Toronto and Oshawa region was the biggest contributor to June's gain, rising 0.5 per cent as builders cited higher labour costs and prices on new listings.
Prices in Vancouver climbed 0.4 per cent. The rapid rise in prices in the two major cities have raised concerns that their markets are becoming overheated. Vancouver earlier this month implemented a new tax on foreign home buyers to try to improve affordability for residents.
The home price index excludes apartments and condominiums, which account for about one-third of new housing.
In Calgary, which has been hurt by the oil price slump, new home prices fell 0.5 per cent as builders said they had to offer promotional prices to encourage sales.