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.
May 1, 2024
The Canadian Press
The Calgary Real Estate Board says April home sales were up 7.3 per cent from last year, driven by growth in the number of relatively more affordable, higher-density properties changing hands.
The board says 2,881 units were sold last month, while the benchmark price across all home types was $603,700 for April — up 9.9 per cent from a year earlier and one per cent from March.
New listings rose 11.5 per cent year-over-year to 3,491 and there were 2,711 units in inventory, 16.2 per cent lower than last year and half the levels traditionally seen in April.
Ann-Marie Lurie, chief economist at CREB, says "persistently high-interest rates" have driven demand toward more affordable properties in the market while contributing to growth of listings for higher-priced properties.
She says supply of homes priced below $500,000 have reported a 29 per cent decline, amid supply growth in homes priced above $700,000.
Properties were on the market for an average of 20 days before selling in April, down 14.4 per cent from last year.
This report by The Canadian Press was first published May 1, 2024.