Russia's central bank cut its interest rate by 50 basis points on Friday but reiterated that it will maintain policy tight to bring inflation back to the target. The Board of Directors, led by Governor Elvira Nabiullina, decided to cut the key rate to 16.00 percent from 16.50 percent. The decision matched market expectations. The bank has lowered the interest rate by 400 basis points since Jun
The euro area current account surplus rose to a three-month high in October, figures from the European Central Bank showed on Friday. The current account surplus rose to EUR 25.7 billion in October from EUR 23.6 billion in September. The surplus hit the highest since July, when it was EUR 28.8 billion....
The Bank of Japan raised its benchmark rate by a quarter-point to the highest level in three decades as inflation continued to remain above the target and hinted at further hikes. The policy board, headed by Ueda Kazuo decided, by a unanimous vote, to hike the uncollateralized overnight call rate to "around 0.75 percent" from "around 0.5 percent."
The UK budget deficit hit the lowest for the month of November in four years, the Office for National Statistics reported Friday. Public sector net borrowing decreased to GBP 11.7 billion in November from GBP 13.6 billion in the previous year. This was the lowest November borrowing since 2021. In...
UK retail sales dropped unexpectedly in November as the Black Friday effect was slightly weaker than usual, data from the Office for National Statistics showed Friday. Retail sales dropped marginally by 0.1 percent in November from a month ago. The decline confounded expectations for an increase of 0.3 percent but this was slower than October's 0.9 percent decrease.
German consumer confidence is set to drop at the start of the year 2026 as rising inflation fears weigh on income expectations and purchase decisions, monthly survey data published jointly by NIQ/GfK and the Nuremberg Institute for Market Decisions showed Friday. The forward-looking consumer confidence index fell to -26.9 in January from revised -23.4 in December.
Retail sales and public sector finance from the UK and consumer sentiment from Germany will be in the spotlight on Friday. At 2.00 am ET, the Office for National Statistics releases UK retail sales and public sector finance data. Sales are forecast to grow 0.3 percent on a monthly basis in November, in contrast to the 1.1 percent drop in October.
The Bank of Japan raised its benchmark rate by a quarter-point on Thursday as inflation remains stubbornly above the target. The policy board decided to hike the uncollateralized overnight call rate to "around 0.75 percent" from "around 0.5 percent." Previously, the BoJ had lifted the benchmark...
The Bank of England lowered its benchmark rate for the fourth time this year as inflation is expected to fall back towards the target more quickly in the near term and signaled further reductions next year. The Monetary Policy Committee, governed by Andrew Bailey, voted 5-4 to reduce the bank rate by 25 basis points to 3.75 percent, which was the lowest since early 2023.
Taiwan's central bank retained its key interest rate, as widely expected, on Thursday and raised its growth outlook on strong demand for AI and other technology applications. The central bank board unanimously decided to maintain the key discount rate at 2.0 percent. The rate on refinancing of...