ECONOMY & MARKETS

Canadian Home Buyers Return To Fixed-rate Loans As Economy Wobbles

A sign stands in front of a home that has been sold in Toronto
Canadian home buyers are shifting to fixed-rate mortgages at the fastest pace in a year, on bets that more rate hikes from the central bank are in store to bring inflation under control, even as the cost of these home loans remains close to the highest level since 2009.
A shopping cart is seen in a supermarket as inflation affected consumer prices in Manhattan, New York City

Factbox-Is Global Inflation Nearing A Peak?

Calling the top of the current wave of inflation has been a painful exercise for economists and central bankers, who have been proven wrong time and again over the past year.
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Commuters pass through an elevated pedestrian walkway on Commonwealth Avenue

Philippine GDP Grows Less Than Expected In Q2

The Philippine economy expanded less than expected in the second quarter, but at pace still in line with the official 2022 growth target, giving the central bank leeway to further tighten monetary policy to curb red-hot inflation.
Women shop for clothes on a store in a shopping mall in Sydney

Australian Consumer Sentiment Slides As Rates Rise

A measure of Australian consumer sentiment fell for a ninth straight month in August to depths last seen early in the pandemic as another hike in interest rates combined with the surging cost of living to sour the national mood.
The price of iced tea at the Northmart grocery store in Iqaluit

Cold And Hungry: Food Inflation Bites Canada's North

In Canada's remote north, residents have long paid dearly for food, and rising prices have worsened an already dire situation, exposing the vulnerability of one of the world's biggest exporters of grains and meat.
A trader walks on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City

Wall St Set For Higher Open After Selloff On Jobs Data

U.S. stock indexes were set to open higher on Monday after last week's blockbuster jobs data soothed some fears about an economic slowdown, but investors remained cautious as it also added to expectations of a hawkish Federal Reserve.
FILE PHOTO - A cargo ship and containers are seen at an industrial port in Tokyo

Japan Runs First Current Account Deficit In 5 Months

Japan ran a current account deficit for the first time in five months in June as surging imports eclipsed exports, data showed on Monday, highlighting the pressure that higher energy and raw material prices are putting on the economy.
A worker carrying a broom passes stacks of containers at the IPC Containter Terminal of Tanjung Priok port in Jakarta, Indonesia, November 4, 2021.

Indonesian GDP Growth Accelerates In Q2, Beats Forecast

Indonesia's economic growth accelerated in the April-June quarter amid an export boom driven by rising commodity prices, official data showed on Friday, but monetary tightening, rising inflation and a global recession risk threaten the outlook.
Storage tanks are seen at Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil into California Air Resources Board (CARB), gasoline, diesel fuel, and other petroleum products, in Carson, California, U.S., March 11, 2022

Stocks Climb Ahead Of U.S. Jobs Data

Asian shares gained on Friday ahead of U.S. jobs data that will give another clue to the health of the world's largest economy as warning signs flashed in bond markets, and oil traded around its lowest level since the start of the war in Ukraine.
An aerial view shows the Ortigas business district in Pasig City, Philippines, June 10, 2022. Picture taken with a drone.

Philippine July Inflation Highest Since 2018

Philippine inflation accelerated to its fastest pace in nearly four years in July, government data showed on Friday, maintaining pressure on the central bank to further tighten monetary policy at its Aug.

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