(Reuters) – The European Central Bank (ECB) will cut interest rates by 25 basis points (bps) in each meeting starting April next year, Goldman Sachs wrote in a note on Thursday. Economists at the brokerage forecast ECB’s deposit rate reaching 2.25% by early 2025 from the current rate of 4%.…

As the Republican presidential primary’s fourth debate approaches, Nikki Haley looks like she’s winning the battle to become the main challenger to front-runner Donald Trump, but that could be as far as she gets. “She’s the one with all of the momentum right now,” said Melissa Miller, a professor of…

WASHINGTON (Reuters) – U.S. wholesale inventories fell more than initially estimated in October, suggesting that inventory investment could be a drag on economic growth this quarter. The Commerce Department’s Census Bureau said on Thursday that wholesale inventories dropped 0.4%, instead of 0.2% as previously reported last month. Stocks at wholesalers…

It is too soon to say when the Federal Reserve will declare victory and start to cut interest rates, Fed Chairman Jerome Powell said Friday. “It would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance, or to speculate on when policy might ease,” Powell…

By Amanda Cooper LONDON (Reuters) -Investors in Japan’s yen have jumped at what they see as the clearest sign yet from the country’s monetary authorities that the end of ultra-low interest rates is fast approaching, opening the floodgates to a rush of buyers. The yen surged over 2% to a…

The numbers: An ISM barometer of business conditions at service companies such as restaurants and hotels rebounded to 52.7% in November from a five-month low of 51.8% in the prior month.  Economists polled by the Wall Street Journal had expected the index to rise to 52.4%. Numbers over 50% indicate…

By Andreas Rinke and Maria Martinez BERLIN (Reuters) -The German government will not be able to finalise its 2024 budget before the end of the year, a senior ruling party official said on Thursday, as a fractious coalition tries to narrow differences on fixing a budget hole. “This is however…

The numbers: Businesses added just 103,000 new jobs in November, paycheck company ADP said, in another sign of slower hiring and a softer U.S. labor market. Economists polled by the Wall Street Journal had forecast a 128,000 increase. The ADP payroll estimate is not an accurate predictor of the government’s…

By Hannah Lang WASHINGTON (Reuters) -The yen staged its biggest one-day rally in almost a year on Thursday after Japanese monetary authorities offered a surprisingly clear hint at a shift in policy, while the euro pared some losses from earlier in the week. The eased ahead of Friday’s U.S. non-farm…

The numbers: The U.S. trade deficit rose 5% in October to a three-month high of $64.3 billion largely because of a decline in exports of American-made cars and COVID-related drugs. Higher deficits subtract from gross domestic product, the official scorecard for the U.S. economy. Key details: Imports inched up 0.2%…