New on Yahoo
Yahoo Finance
Yahoo FinanceEconomic News and Analysis
Economic News
BusinessReutersArgentina halts monetary base expansion to lower inflation, says minister
Argentina will cease expanding its monetary base as part of the government's campaign to combat inflation, Economy Minister Luis Caputo said on messaging platform X on Saturday. "From now on the amount of money remains the same or is reduced if the central bank (BCRA) sells dollars" in the official exchange market known as the MULC, Caputo wrote. "If the BCRA buys dollars in the MULC, the issuance of equivalent pesos will be sterilized with the sale of equivalent dollars in the cash with liquidation (CCL) market," a market where dollar transactions are settled in cash, Caputo wrote.
BusinessBloombergCharting the Global Economy: US Inflation Cools, Political Gridlock Grips France
(Bloomberg) -- Underlying US inflation cooled in June to the slowest pace since 2021 on the back of a long-awaited slowdown in housing costs, sending the strongest signal yet that the Federal Reserve can soon cut interest rates.Most Read from BloombergMusk Donates to Trump, Tapping Fortune to Swing 2024 RaceCanada Said to Have Mapped Out Secret Chinese Police OperationsGiuliani’s Bankruptcy Dismissed With $150 Million Still OwedBiden Vows to Stay in 2024 Race Even as NATO Gaffes Risk His Campaig
WorldReutersInstitutions snapping up Chinese treasury bonds are shorting the economy, state media says
Financial institutions snapping up Chinese government bonds are basically shorting the Chinese economy, China's central bank-backed Financial News reported on Saturday, citing what it said were the views of industry sources and experts. The report is the latest warning to the country's bond market after the People's Bank of China (PBOC) sounded concerns and introduced plans to sell treasury bonds to cool a bond rally.