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.
Apr 6, 2017
BNN Bloomberg
The relentless surge in Toronto home prices is forcing Bill Morneau’s hand.
Canada’s finance minister is asking for a meeting with his Ontario counterpart, Charles Sousa, and Toronto Mayor John Tory to discuss how they can cool down the red-hot market.
“I am concerned that dramatic house price increases will have long-term implications for housing affordability and housing market stability,” Morneau wrote in his letter, which was sent Wednesday, the same day the Toronto Real Estate Board reported the average selling price in the city surged 33.2 per cent in March.
The letter was delivered almost a year after Morneau appointed his working group on housing, with representatives from the federal, Ontario and British Columbia governments, as well as officials from Toronto and Vancouver. The group was tasked last June with studying the state of the housing market, and responsible for providing recommendations on policy.
Morneau is calling on Sousa and Tory to hold the meeting at “the earliest opportunity,” while citing concerns about market stability.
“A combination of low interest rates and rising home prices has encouraged some Canadians to take on high levels of debt to get into the housing market, making them more susceptible to changing economic conditions,” he warned in his letter.