News

(Reuters) -Members of the boards of directors overseeing the Chicago and New York Federal Reserve banks voted in favor of lowering by a quarter percentage point the central bank’s discount rate during July, according to meeting minutes released on Tuesday. The Fed said in a press release that while 10 of the 12 regional Fed banks wanted to maintain the discount rate at 5.5% in votes taken last month, the Chicago and New York Fed directors wanted that borrowing rate to move down to 5.25%.

(Bloomberg) -- Oil prices face increased risk of a spike following a “carry trade” that has diverted much-needed capital from the market, according to veteran commodities analyst Jeff Currie.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityHigh interest rates have spurred hedge funds and physical oil players to slash up to $100

(Bloomberg) -- Latin America’s local-currency bonds are staging the strongest monthly advance this year as the Federal Reserve draws closer to cutting interest rates for the first time since the onset of the pandemic. Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityBets that the long-awaited easing is poised to begin next mont

Beyond the common challenges like currency fluctuations and supply shocks that keep the world's central bankers up at night, in Mexico there is an additional foe for those conjuring monetary policy: protection rackets. Extortion has become a massive problem in Mexico, with powerful drug cartels exerting deep influence over swathes of the country. Keen to establish new revenue streams, these groups have been turning to extorting businesses by forcing them to pay protection money.

(Bloomberg) -- Brazil’s annual inflation cooled roughly in line with expectations in early August, providing limited relief to a central bank that’s under sustained pressure to raise interest rates.Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityOfficial data released Tuesday showed prices increased 4.35% in the first two week

(Bloomberg) -- Home-price gains in the U.S. slowed in June as buyers pulled back from the market while listings started to climb. Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityA national measure of prices rose 5.4% from a year earlier, according to data from S&P CoreLogic Case-Shiller. That compares with a 5.9% annual increa

(Bloomberg) -- A spread that shows the difference in oil prices in Europe and Asia surged to the widest in 10 months on concern that swaths of supply from Libya are about to get halted. Most Read from BloombergNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherSydney Central Train Station Is Now an Architectural DestinationChicago Overcomes DNC Skeptics With Calm, Parties and SunHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityWith Housing Costs High, Democ