Japan's consumer inflation could briefly approach the central bank's elusive 2% target as geo-political risks push up energy costs, a central banker said on Thursday, in a sign of the broadening fallout from the crisis in Ukraine.
The crisis in Ukraine could hurt Japan's economy by driving up the price households and companies pay for fuel and commodities, a central bank policymaker said on Thursday, signaling the need to maintain massive stimulus to support a fragile recovery.
U.S. sanctions targeting Russian refineries, disruptions to shipping and a fall in U.S.
Oil prices extended their rally on Thursday, with Brent rising above $118 a barrel as trade disruption and shipping issues from Russian sanctions over the Ukraine crisis sparked supply worries, while U.S.
Benchmark Brent crude oil prices climbed close to $120 a barrel on Thursday, with Russian oil exports disrupted as traders try to avoid becoming entangled in sanctions.
Oil eased after hitting prices not seen in roughly a decade on Thursday, as sellers jumped on hopes that the United States and Iran will agree soon on a nuclear deal that could add barrels to a badly undersupplied market.
Oil slid 2% on Thursday, after hitting prices not seen in a decade, as sellers jumped on hopes the United States and Iran will agree soon on a nuclear deal that could add barrels to a tight global market.
The euro was pinned near a 21-month low on Thursday by worries that Russia's invasion of Ukraine will hurt European growth, while commodity currencies hit multi-week highs as export prices surged.
The euro slid to its lowest level in almost six years against Britain's pound and was pinned near 21-month lows versus the dollar as a fresh surge in energy prices heightened worries about the euro area economic outlook.
The euro extended recent declines and hit its lowest since 2016 against sterling on Thursday as investors worried about the impact of rising oil prices after Russia's invasion of Ukraine, while the U.S.
The euro was pinned near a 21-month low on Thursday by worries that Russia's invasion of Ukraine will hurt European growth, while commodity currencies hit multi-week highs as export prices surged.
Asian shares crept higher on Thursday after reassuring comments from the Federal Reserve helped Wall Street rally, though the war in Ukraine sent oil and resource prices spiralling ever higher in a grim omen for global inflation.
Oil prices initially soared on Thursday as the Ukraine war sparked a run on commodities that raised fears of "stagflation," while equity markets mostly fell as investors hope the Federal Reserve cautiously move to tighten monetary policy.
The Federal Reserve's nearly $9 trillion balance sheet has more room to decline than it did the last time the central bank shrank its holdings and policymakers will still watch money markets closely, a senior bank official said on Wednesday.
The United States will address potential gaps in tough sanctions imposed on Russia over its invasion of Ukraine, U.S.
Capital Group Companies Inc, one of the world's largest investment management companies, known for its American Funds mutual funds, had billions in exposure to Russian companies that have been either sanctioned or curbed by the United States over Russia's invasion of Ukraine, according to the latest data on the fund's website.
Overseas investors in Russia have tens of billions invested in the country's stocks and bonds, according to Morningstar data.
Mexico's central bank on Wednesday said pandemic shocks on inflation have been deeper and longer lasting than expected, and the bank could not rule out new price pressures caused by Russia's invasion of Ukraine.
Investment firm Saddle Point privately nominated four directors to the board of Curtiss-Wright Corp, arguing the company's stock is undervalued because it lacks a strategic focus and its earnings power is obscured by its noncore industrials business, some of which ought to be divested.
U.S. Treasury Secretary Janet Yellen said on Wednesday that the United States and Western allies have immobilized half of the assets of the Russian central bank and will continue to impose "severe consequences" on Russian President Vladimir Putin and the wealthy oligarchs who support him if he escalates his war in Ukraine.
Bank of England Deputy Governor Jon Cunliffe said the crisis triggered by Russia's invasion of Ukraine would add to risks in financial markets which have already been made volatile by a shift to higher interest rates.
Supplies of Russian liquefied natural gas (LNG) to Europe have been disrupted by uncertainty over whether ships can discharge cargoes at European ports due to sanctions imposed on Moscow, according to ship tracking data and trade sources on Wednesday.
Royal Bank of Canada, Toronto-Dominion Bank and Bank of Montreal said on Wednesday they will raise their prime lending rates for the first time since October 2018, after the Bank of Canada hiked its benchmark rate by 25 basis points.
Royal Bank of Canada will increase its prime rate to 2.7% from 2.45%, Canada's biggest bank said on Wednesday, after the central bank raised its benchmark rate by 25 basis points.
Disruptions to Russian oil exports intensified on Wednesday with more countries and companies refusing to import and transport Russian crude and at least 10 tankers failing to find buyers, driving oil and gas prices higher.
Oil prices jumped to near eight-year highs and wheat to 14-year peaks, while aluminium, Dutch gas and European coal prices hit records as Western sanctions on Russia over its invasion of Ukraine disrupted Russian commodities exports.
German oil and gas firm Wintershall Dea said on Wednesday it would stop payments to Russia and write off its 1 billion euro ($1.1 billion) financing in the Nord Stream 2 gas pipeline, which was suspended last week.
The European Union laid out plans on Tuesday to cut its reliance on Russian gas by two-thirds this year and end it "well before 2030", in a bid to wrest countries free from depending on Moscow for energy.
Coffee traders are seeking advance payment in any new deal to sell beans to Russia as Western sanctions hit the financial system of the world's sixth largest importer.
Federal Reserve Bank of Chicago President Charles Evans on Wednesday said "extremely" high inflation poses "quite a risk" to economic growth, and the U.S.
