Page 63 - Eco News Today

Consumer price inflation in India likely cooled to a 20-month low in May as food price rises slowed further, drawing closer to the Reserve Bank of India's medium-term target of 4%, a Reuters poll of economists found.

The Indian rupee will trade in a tight range against the U.S. dollar over the next three months, close to its historic low, but any hawkish moves from the Federal Reserve on rates could send it sliding, a Reuters poll of analysts found.

European shares dipped on Thursday as rate-sensitive technology shares slipped on expectations of further interest rate hikes by major central banks, although gains in banks helped limit losses.

Prices of rice exported from top hub India jumped to their highest since early March this week, driven by tight supplies and a move to raise the government-mandated price for paddy, while rates for the staple from Thailand eased on lower demand.

Japan posted a current account surplus for the third month in April as the trade deficit narrowed and income gains from overseas investment grew, government data showed, easing worries about declines in the country's balance of payments.

Japan's economy grew more than initially thought in January-March, revised data showed on Thursday, as a post-pandemic pickup in domestic spending and company restocking helped offset the hit to exports from slowing global demand.

Reality star Kim Kardashian's arrival at a gathering of the globe's top deal brokers in Berlin failed to dispel their dark mood as the rising cost of money puts the brakes on the private equity industry.

China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pressure on profit margins and reduce lending costs, providing some relief for the financial sector and wider economy.

The Reserve Bank of Australia (RBA) will hike its key interest rate once more by the end of September to 4.35% following a surprise hike on Tuesday and then hold policy for the rest of the year, according to economists in a snap Reuters poll.

Japan's bitter memories of its decades-long battle with deflation hang heavily over the central bank's deliberations to take its first modest step away from ultra-loose monetary policy, even as inflation and wages creep up.