Inflation Financial News

Canadian retailer Loblaw on Wednesday beat Wall Street expectations for second-quarter revenue and profit, helped by sustained demand for groceries and drugs and higher prices.

The bonds were bought as part of the bank’s financial stability mandate to reduce the danger of «fire-sale» dynamics.

Hargreaves Lansdown reported net new business of £1.7bn in the period, up 6% on the previous quarter.

An online carpet and flooring retailer based in the United Kingdom has bought Bitcoin (BTC) and put it on the balance sheet, following in the footsteps of Tesla, Microstrategy and Real Bedford. 

Bitcoin (BTC) enters the last full week of July on an uncertain footing as $30,000 becomes resistance.

Russia withdrew from the Black Sea grain deal, the Indian government announced on Thursday that it will be stopping all exports of non-Basmati white rice with immediate effect.The timing of the move comes amid a wave of extreme heat scorching many parts of the globe, all culminating in growing questions about the security of food supply chains around the world.According to the Food and Agricultural Organization (FAO) of the United Nations, India accounts for more than 40 per cent of the world’s rice exports.In a statement Thursday, the country’s ministry of consumer affairs, food and public distribution cited the need to “ensure adequate availability of Non-Basmati White Rice in the Indian market and to allay the rise in prices in the domestic market.”According to the ministry, non-Basmati white rice accounts for a quarter of all Indian rice exports.This decision comes as Indians have been struggling with high food prices. In September of last year, the government imposed a 20 per cent export duty on rice to lower the price in the domestic market.

Statistics Canada says retail sales rose 0.2 per cent to $66.0 billion in May, helped by gains at new car dealers and grocery stores.

Canadians are changing their travel plans this summer due to rising costs of flights and hotels, according to a new Leger poll.

An easing in overall inflation is not being mirrored in food prices, and experts say severe weather and geopolitical disruptions will continue to cause pain for Canadians at the grocery store.

'We would not push back against market pricing of a 6% terminal Bank Rate and think rate cuts are unlikely until late 2024.'

The annual rate of inflation cooled to 2.8 per cent in June, marking a milestone in the Bank of Canada’s efforts to fight raging price pressures.

The Bank of Canada has shifted to a less prescriptive messaging strategy than it used in January when it signaled a rate-hike pause that reignited the housing market, which added to inflation and the need to resume tightening five months later.

Bitcoin (BTC) starts a new week above $30,000 but heading nowhere as the multi-month trading range refuses to shift.

As the weather heats up in Canada, cottages prices are cooling down, but sticky inflation and soaring interest rates are dampening plans for prospective first-time buyers, real estate experts say.

This July 14 Bitcoin weekly options expiry holds the potential to be a significant turning point for market sentiment, potentially leading to a breach below the crucial $30,000 support level.

Bitcoin (BTC) looked set to challenge range highs on July 13 as fresh macroeconomic data boosted risk asset bulls.

Surging interest rates and a challenging economic climate are making it difficult for individuals and businesses to access credit. In emerging markets with a high proportion of unbanked people, such issues are nothing new.

The Bank of Canada has raised its benchmark interest rate by another 25 basis points, bringing it to levels not seen since 2001 amid fears the decline in inflation “could stall.”

The US Federal Reserve

Bitcoin (BTC) eased higher into July 12 with the key macroeconomic event of the week just hours away.

The findings come after the collapse of Silicon Valley Bank in the US in Q1 occurred at the same time as Credit Suisse's collapse, triggering concerns about the health of the wider banking sector.