ECB Warns of Financial Stability Threats in Higher Trade Tariffs, Possible AI Bubble
The central bank said the prospect of higher tariffs increases the risk of rare but damaging shocks to the global economy and also warned of a potential asset-price bubble linked to the development of AI.
Mortgage rates are near 7%, but buyers are making a comeback
Mortgage applications rose 1.7% in the last week, the Mortgage Bankers Association said.
U.K. Inflation Rebounds Above Bank of England Target
The annual rate of inflation rose above the BOE target in October, a move that was expected by policymakers, who have said they would cut their key rate only gradually.
Eurozone Wage Growth Picks Up Pace, ECB Says
Wages in the eurozone rose at a much faster pace during the three months through September, although signs of a slowdown next year will likely ease concerns at the central bank.
U.S. Crude Oil Stockpiles Increase Amid Higher Imports
U.S. crude oil inventories rose last week as an increase in imports offset a decline in production, while refineries ran at a lower rate than the week before.
China Holds Benchmark Lending Rates Steady
Major Chinese lenders kept 1-year and 5-year loan prime rates steady at 3.1% and 3.6% respectively.
Dow Edges Up as Nvidia Earnings Loom
The Nasdaq Composite and S&P 500 edged lower while the Dow industrials were roughly flat.
Tariffs Aren't the Only Trump Threat Facing Asian Economies
Expectations of higher inflation resulting from Trump's policies are pushing the dollar higher, creating problems for Asia's central banks.
Japan Exports Rebound But Outlook Remains Cloudy After Trump Re-Election
Japan's exports rebounded in October but there are doubts if exports will keep strengthening amid uncertainties surrounding the global economy and U.S. trade policy.
Indonesia's Central Bank Extends Pause on Rate Cuts as Uncertainty Rises
Bank Indonesia has extended its rate-cut pause as it sharpens focus on stabilizing the rupiah as renewed dollar strength after the U.S. election pressures many emerging-market currencies.
(END) Dow Jones Newswires
November 20, 2024 11:00 ET (16:00 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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