Slowing Inflation Primes G-7 Central Banks for June
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
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Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts.
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
The owner of a historic office building in Manhattan’s Financial District has filed bankruptcy to sell the property, which has been subject to foreclosure and suffered from a lack of tenants due to the Covid-19 pandemic.
Aug 6, 2020
BNN Bloomberg
,Home prices in Canada’s largest housing market climbed to a new record in July as activity continued to rebound after pandemic-related lockdowns earlier in the year.
The average selling price for all homes sold across the Greater Toronto Area (GTA) jumped 16.9 per cent year-over-year in July to $943,710, according to data released Thursday by the Toronto Regional Real Estate Board (TRREB).
July’s figure marked a snapback from earlier in the pandemic when the average GTA home price abruptly tumbled to $821,392 in April as buying activity ground to a halt.
The upward march in prices last month came as home sales soared 29.5 per cent year-over-year, setting a new record for July as 11,081 properties traded hands. The strongest demand was seen in the detached-property market, as sales jumped almost 44 per cent year-over-year.
“Normally we would see sales dip in July relative to June as more households take vacation, especially with children out of school,” TRREB president Lisa Patel said in a release. “This year, however, was different with pent-up demand from the COVID-19-related lull in April and May being satisfied in the summer, as economic recovery takes firmer hold, including the Stage 3 re-opening. In addition, fewer people are travelling, which has likely translated into more transactions and listings.”
July marks the second straight month that the average selling price for homes in the GTA climbed to an all-time high, after June’s record of $930,869.