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French Annual Inflation Accelerates to 1.7% in January, Final Data Confirms

As expected, France's annual inflation rate climbed to 1.7% in March, from 0.9% in February, final data from statistics agency Insee showed Wednesday.On a monthly basis, consumer prices were 1% higher, compared with the flash estimate of a 0.9% growth and the prior 0.6% gain.The annual harmonized inflation rate stood at 2% from 1.1%, against the preliminary reading of 1.9%. Month over month, harmonized consumer prices rose 1.1%, confirming the preliminary data, compared with the previous 0.7% uptick.

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International69d ago

Saudi Arabia's Annual Inflation Rate Rises to 1.8% in March

Saudi Arabia's annual inflation rate came in at 1.8% in March, up from 1.7% in February, the country's General Authority for Statistics said Wednesday.On a monthly basis, consumer prices in Saudi Arabia were 0.3% higher, compared with the previous zero growth.

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International69d ago

Saudi Arabia's Annual Wholesale Prices Climb 3.3% in March

Saudi Arabia's wholesale prices increased 3.3% year over year in March, following a 3.5% rise in the previous month, the country's General Authority for Statistics said Wednesday.On a monthly basis, wholesale prices in the kingdom edged up 0.2%.

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International69d ago

Saudi Arabia's Annual Producer Price Index Up in February

The producer price index in Saudi Arabia rose 1% year over year in February, after a 0.4% uptick in the previous month, according to data from the General Authority for Statistics released Wednesday.On a monthly basis, the index was stable.

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International69d ago

IMF Revises Down Australia's GDP Growth Rate As It Flags Global Economic Slowdown

The International Monetary Fund (IMF) cut its economic growth projections for Australia, with gross domestic product (GDP) growth rate now expected to come in at 2% in 2026, compared with the previous forecast of 2.1%, and 1.7% in 2027, down from the earlier forecast of 2.2%, according to a Tuesday report.Global economic growth is projected to slow to 3.1% in 2026 and 3.2% in 2027, while global headline inflation is projected to rise modestly in 2026 before resuming its decline in 2027, assuming the conflict in the Middle East remains limited in duration and scope, according to the IMF's World Economic Outlook. Under this scenario, oil prices are expected to average $82 per barrel for 2026.A longer or broader conflict, worsening geopolitical fragmentation, a reassessment of expectations regarding artificial‑intelligence‑driven productivity, or renewed trade tensions could significantly weaken growth and destabilize financial markets, IMF cautioned.Australia's consumer price growth is projected to clock in at 4% in 2026 and 3.2% in 2027, exceeding most advanced economies.

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International69d ago

Australia's Consumer Spending Rise 2.1% in March, NAB Says

Australian consumer spending rose 2.1% in March, month-on-month, driven by a sharp increase in fuel spending due to higher prices, according to NAB's consumer spend trend report published on Wednesday.Consumer spending rose 8.4% compared with the same month last year.Excluding fuel, spending rose 0.7% month on month and 7.5% on a yearly basis, supported by higher food spending and rising construction and service costs."Consumer spending rose 2.1% in March, driven by a sharp 33.5% increase in fuel spending following the fuel price surge," said NAB Chief Economist Sally Auld.Fuel spending was up 34% in March and 25.7% higher over the year, with price growth outpacing spend per transaction in March, pointing to precautionary purchases and smaller refuelling top‑ups as prices rose, the report added.Goods spending rose 3.7%, and services spending rose 0.4% in the month, led by utilities & telecoms.Consumers began to scale back on discretionary services in March as spending shifted toward non‑discretionary items, led by fuel, while categories such as cafes and restaurants, hotels, and travel declined.Consumer spending grew across all states and territories in March, with South Australia and Queensland seeing the strongest growth, while over the past year, spending growth nationally has been driven primarily by essential categories, particularly utilities and fuel."For now, consumers have absorbed higher fuel expenses with only a small impact on their broader spending. However, there is clear underperformance among discretionary categories, particularly hospitality, travel, and personal services," Auld said."We expect renewed cost-of-living pressures to continue to place ongoing pressure on household budgets and weigh on discretionary purchases," Auld added.

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International69d ago

Philippines Books $2.8 Billion Cash Remittances in February

Cash remittances from overseas Filipinos climbed to $2.79 billion in February, the Bangko Sentral ng Pilipinas said Tuesday.Cumulative cash remittances for the January-February period rose 3.1% to $5.81 billion from $5.63 billion a year earlier.The United States remained the largest source of inflows, followed by Singapore and Saudi Arabia.Personal remittances, which include both cash transfers and in-kind flows, reached $3.10 billion in February.Cumulative personal remittances rose 3.1% year on year to $6.46 billion in the first two months of 2026, the central bank said.

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Australia's Private Sector Credit to Grow Over 7% Year Over Year, ANZ Says

Australia's private sector credit is projected to grow by 7.2% year over year this year, tracking at its fastest pace since 2022, before slowing to 5.7% year-over-year by late 2027, ANZ said in a report on Wednesday.Since the last credit forecasts in February, the Middle East conflict has escalated, and two additional 25 basis points rate hikes have been added in the RBA profile, leading to a projected cash rate peak of 4.35%.Early signs indicate a slowdown in housing credit growth, with housing prices in Sydney and Melbourne falling below their October 2025 levels.Capital city prices are expected to rise 2.8% this year and 2.1% in 2027, which should see the pace of housing credit ease and grow 6.9% year over year this year and 5.4% next year, ANZ said.Non-financial business credit has shown resilience and it is expected to grow solidly for a few months before higher rates and economic uncertainty start to impact numbers.Meanwhile, personal credit growth, which has trended higher over the past year, is anticipated to ease to 2.1% year over year by year-end and 1.5% by the end of 2027.

ASX 200

International69d ago

IMF Raises India's 2026 Growth Forecast to 6.5%

The International Monetary Fund (IMF) has raised India's growth forecast for the fiscal year 2026 to 6.5% from its previous forecast of 6.4% made in January, according to its latest World Economic Outlook for April 2026, released on Tuesday.The Indian economy is expected to grow faster than previously anticipated despite the war in the Middle East and growing geopolitical tensions."For 2026, growth is revised upward moderately by 0.3 percentage point (0.1 percentage point relative to January) to 6.5%, led by positive contributions from the carryover of the strong 2025 outturn and the decline in additional US tariffs on Indian goods from 50% to 10%, which outweigh the adverse impact of the Middle East conflict," the IMF said.Growth is expected to be maintained at 6.5% in the fiscal year 2027.In India, growth for fiscal year 2025 is revised upward by 1.0 percentage point from its earlier October forecast to 7.6%. This reflects "better-than-expected outturn in the second and third quarters of the fiscal year and sustained strong momentum in the fourth quarter," the IMF said.Inflation in India is expected to return to near target levels after subdued food prices drove a marked decline in 2025.The IMF's India growth projection for the current financial year is lower than the Reserve Bank of India's estimate of 6.9% and the World Bank's 6.6%.At the global level, the IMF warns that the Middle East conflict would be a drag on growth and lead to inflationary pressure."Under the assumption of a limited conflict, global growth is projected at 3.1% in 2026 and 3.2% in 2027," the IMF said.

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International69d ago

IMF Trims 2026 GDP Growth Outlook for China to 4.4%

The International Monetary Fund reduced its economic outlook for China to 4.4% for this year from 4.5% in its January estimate as international markets continue to grapple with the impact of the Middle East conflict, according to a Tuesday press release.The new outlook is lower than Beijing's gross domestic product growth target of between 4.5% and 5% but higher than the agency's October 2025 projection.For 2027, the IMF predicts China's GDP growth will further slow down to 4%.The agency lowered the global economic growth forecast to 3.1% for the year and 3.2% in 2027, while global headline inflation is expected to moderately climb this year."A longer or broader conflict, worsening geopolitical fragmentation, a reassessment of expectations surrounding artificial‑intelligence‑driven productivity, or renewed trade tensions could significantly weaken growth and destabilize financial markets," the IMF said.

Shanghai Composite^SZSE

International69d ago

Japanese Manufacturer Confidence Plunges Most in Three Years on Oil Shocks from Iran War

Confidence among Japanese manufacturers fell at its steepest monthly rate in over three years in April, driven by rising oil prices and supply chain disruptions linked to the Middle East conflict, according to the latest Reuters Tankan poll.The survey, conducted from April 1 to 10 and serving as a precursor to the Bank of Japan's quarterly Tankan index, showed a drop of 11 points to plus 7, the first downturn in three months and the largest fall since January 2023, the report said.With Japan relying on the Middle East for roughly 95% of its oil, firms are highly vulnerable to any supply shocks; the closure of the Strait of Hormuz has choked energy shipments and undone recent optimism fueled by chip-led demand, according to the report.The materials sector was hardest hit: chemicals industry sentiment plunged from plus 21 in March to minus 8 in April, with managers citing rising raw material costs, unstable procurement, and limited supply of inputs constraining shipments, the report said.In contrast, transport machinery (including autos) saw a milder pullback, dropping from plus 36 to plus 20, while non-manufacturers' confidence actually improved to plus 31 from plus 25, supported by steady demand in construction, real estate, and information services, Reuters wrote.Looking ahead, manufacturers expect sentiment to worsen further to plus 2 by July, and non-manufacturers also see a cooling to plus 14; one machinery maker warned that a prolonged Iran conflict would likely cause clients to delay investment, according to the report.

Nikkei 225

International69d ago

South Korea's Jobless Rate Edges Down in March

The seasonally adjusted unemployment rate in South Korea in March edged down to 2.7% from 2.9% in February, data from Statistics Korea indicated Wednesday.On an annual basis, the unemployment rate fell to 3.0% from 3.4%.The number of unemployed people fell by 35,000 to 884,000 in March from 918,000 a year earlier.The number of employed people increased by 206,000 to hit 28.8 million last month from 28.6 million in the year-ago period.

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International69d ago

IMF Expects Bank of Japan to Hike Rates Slightly Faster, Even as Growth Moderates and Deficit Widens

The International Monetary Fund (IMF) expects the Bank of Japan to raise interest rates gradually, at a slightly faster pace than projected six months ago, moving toward a neutral rate of about 1.5%.Japan's economic growth is projected to decline from 1.2% in 2025 to 0.7% in 2026 and further to 0.6% in 2027, according to its latest World Economic Outlook report released Tuesday.The 2026 growth forecast was revised upward from the October 2025 figure due to a new fiscal stimulus package, stronger domestic-demand-driven carryover from 2025, and government measures to limit higher energy prices.Inflation in Japan is expected to moderate in 2026 relative to 2025 and converge toward the country's target by the end of 2027 as food and commodity prices ease.Japan's fiscal deficit is projected to widen by 1 percentage point of GDP in 2026, with moderately expansionary fiscal policy expected to continue through 2030.

Nikkei 225

International69d ago

South Korea's Export, Import Prices Jump in March

South Korea's export prices rose 28.7% year-over-year in March, while import prices gained 18.4%, according to preliminary data from the Bank of Korea released on Wednesday.On a month-on-month basis, the export price index and the import price index increased 16.3% and 16.1%, respectively, the data showed.The net barter terms of trade index gained 22.8% on-year during the month.

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International69d ago

South Korea's Unemployment Rate Eases to 3.0% in March

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International70d ago

Quantity Sold at GDT Pulse Auction Nears 2,900 Metric Tonnes

A total of 2,869 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) pulse auction held Tuesday, with supply ranging from 2,550 MT to 3,000 MT, according to data from the trading platform.The average selling price for anhydrous milk fat was $6,922 per MT, butter averaged $5,950 per MT, and skim milk powder and whole milk powder averaged at $3,318 per MT and $3,621 per MT, respectively.

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International70d ago

TSX Closer: Index Up For the Ninth Winning Session in the Last 10; Investors Buoyed By Economic Updates

The Toronto Stock Exchange closed higher on Tuesday, rising for the ninth time in the past 10 ten sessions, with investors possibly getting fresh encouragement from news the Canadian federal government will later this month provide a spring economic update that is expected to outline its plans for overcoming high oil prices due to the Iran war, and lingering trade disputes with the United States.The S&P/TSX Composite Index rose 223.12 points, or 0.65% to 34,102.36, leaving it less than 500 points from its March 2 record close of 34,541.27. Most sectors were higher, led by Info Tech, up 2.75%, for the second session in a row. Energy, down 2.4%, was the biggest loser as the oil prices dropped.On the political and economics front, Finance Minister Francois-Philippe Champagne told Parliament on Tuesday the federal government will table its spring economic update on April 28, marking the first anniversary of the Liberals' general election win.CTV News noted it will be Prime Minister Mark Carney's first since his cabinet flipped the release schedule for its budgets and fiscal updates.The federal government has already started to flag some of the details likely to be at the heart of the economic update. CTV News noted the government is set to temporarily suspend the federal fuel excise tax on gas and diesel starting next week. Carney made the announcement in Ottawa on Tuesday, just hours after his government secured a majority through three byelection wins and some recent floor crossings involving Members of Parliament from other parties.CTV News noted the tax suspension is expected to reduce the cost of gas by 10 cents per liter on regular gas, and four cents on diesel. The suspension will come into effect on April 20 and last until Sept. 7, and comes as global oil prices remain volatile amid U.S.-Iran tensions.Speaking to reporters following the announcement on the federal fuel excise tax, Carney signaled the spring economic update will include some restructuring of already announced measures. "We're putting in place a series of measures. Some will have short-term payoffs. Many will have payoffs in a few years," Carney said. "The bigger projects, the bigger initiatives, we have to change fundamentally our economy to be stronger, more independent, more prosperous, but we want to make sure that those benefit all Canadians.""In (the spring update), you'll see more emphasis on taking where we're going with the economy and making sure that it benefits all Canadians," he added.Still on economics, National Bank Canada said Canada has preserved a fiscal edge, despite moves to protect the economy as highlighted in the latest International Monetary Fund update.The IMF on Tuesday trimmed its 2026 forecast for Canada's gross domestic product growth by 0.1 percentage points to 1.5%, while keeping the estimate at 1.9% for next year. The IMF published its latest World Economic Outlook on Tuesday. Canada's GDP expanded 1.7% in 2025.National Bank economist Ethan Currie and Warren Lovely said while Canada's growth outlook is largely unchanged, they noted governments have moved to protect and defend a trade-sensitive economy. "That extra budgetary red ink is captured in this latest MF forecast. Net borrowing is seen as more substantive yet again, which is directionally inconsistent with other G7 countries, who saw improvements relative to the Oct-26 IMF report," the National Bank duo noted.But that, they said, is not to say Canada does not remain in a favorable fiscal standing. They added: "The budget deficit, while loftier following the pandemic, remains contained relative to other jurisdictions, particularly the U.S., which isn't expected to see the same level of consolidation in years to come. Meantime, Canada's serious net debt edge, brought on by plentiful financial assets at the government/public pension level, is only set to build from here."Of commodities today, West Texas intermediate crude oil closed sharply lower after U.S. President Trump said further talks with Iran in Pakistan "could be happening over next two days", while the International Energy Agency said it expects oil demand to fall this year on a lack of supply as the Strait of Hormuz remains essentially closed. WTI crude oil for May delivery was closed down $7.80 to settle at US$91.28 per barrel, while June Brent oil was down US$4.58 to US$94.78.Gold traded higher Tuesday as the dollar fell after the United States reported U.S. wholesale price inflation rose less than expected last month. Gold for May delivery was last seen up $82.90 to US$4,850.30 per ounce.

S&P/TSX CompositeS&P/TSX Composite$CXY

International70d ago

Federal Govt Will Table Its Spring Economic Update on April 28

The federal government will table its spring economic update on April 28, marking the one-year anniversary of the Liberals' general election win, Finance Minister Francois-Philippe Champagne told Parliament on Tuesday.CTV News noted it will be Prime Minister Mark Carney's first since his cabinet flipped the release schedule for its budgets and fiscal updates.Separately, CTV News noted the federal government is set to temporarily suspend the federal fuel excise tax on gas and diesel starting next week. PM Carney made the announcement in Ottawa on Tuesday, just hours after his government secured a majority through three byelection wins and some recent floor crossings involving members of parliament from other parties.According to the federal government, the tax suspension is expected to reduce the cost of gas by 10 cents per litre on regular gas, and four cents on diesel. The suspension will come into effect on April 20 and last until Sept. 7, and it comes as global oil prices remain volatile amid U.S.-Iran tensions.

S&P/TSX CompositeS&P/TSX Composite$CXY

International70d ago

Canada's Finance Minister, Francois-Philippe Champagne, Announces April 28 As Date For Spring Fiscal Update

S&P/TSX CompositeS&P/TSX Composite$CXY

International70d ago

Federal Reserve Watch for April 14: Goolsbee Says High Oil Prices Could Delay Rate Cuts, Possibly Until 2027

Chicago Fed President Austan Goolsbee (nonvoter) said that high oil prices may require the FOMC to maintain its current policy rate through the remainer of 2026.Recent comments of note:(April 8) Minutes of the March 17-18 FOMC meeting showed a continued divergence of opinions on the path of policy, especially in light of the conflict with Iran, with most expecting a further rate cut at some point but others less certain.(April 7) Fed Vice Chair Philip Jefferson (voter) said that rising energy prices clouds the outlook for inflation, which is already above the FOMC's target and appears to remain sticky. He added that monetary policy is well-positioned to wait for more information before considering changes in the policy rate.(April 7) Chicago Fed President Austan Goolsbee (nonvoter) said that he is concerned about the inflation impact from the conflicted in Iran as well as the possibility that it will slow the economy.(April 6) Cleveland Fed President Beth Hammack (voter) said that she believes the FOMC should hold rates steady for a period of time before considering rate reductions but added that the next move could be a rate hike if inflation remains elevated or moves higher.(April 2) Dallas Fed President Lorie Logan (voter) said that the conflict in Iran adds uncertainty to the economic outlook but said that the current stance of monetary policy is positioned appropriately to react as needed.(April 1) St. Louis Fed President Alberto Musalem (nonvoter) said that he could support rate decreases or rate increases depending on what conditions require but added that he believes that the current setting of policy will remain appropriate for some time.

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International70d ago

TSX Closer: Index Up For the Ninth Winning Session in the Last 10; Investors Buoyed By Economic Updates

S&P/TSX CompositeS&P/TSX Composite$CXY