Global food prices declined marginally in June, as lower prices of dairy products and vegetable oils more than offset a significant jump in maize quotations, and are now very close to their level of a year ago, according to a report by the Food and Agriculture Organization of the United Nations released on Sunday.
Oil hit multi-week highs on Monday after OPEC indicated it was likely to maintain production cuts that have helped boost prices this year, while escalating Middle East tensions provided further support.
Australia and New Zealand Banking Group cut fixed mortgage rates on Friday, the last of the country’s growth-starved big banks to do so in recent weeks as they chase new customers amid lower funding costs.
The Bank of England could be set a target for house price inflation under plans being explored by the Labour party, with tougher powers to restrict mortgage lending to close the gap between property prices and average incomes.
A decision by US aviation giant Boeing to cut production of its 737 aircraft has hit the shares of the company and its suppliers in US pre-market trading, as the company continues to grapple with a crisis following two deadly crashes in less than five months.
The National Iranian Oil Company has raised the official selling price differentials for all of its four crude oil grades loading in April and headed to Asia, a company source told S&P Global Platts on Wednesday.
Oil prices gained nearly 3 percent on Tuesday, supported by OPEC-led production cuts, which Saudi Arabia said it would surpass by more than half a million barrels per day (bpd), and by US sanctions against Iran and Venezuela.
The Bank of Japan (BoJ) is expected to cut its inflation forecasts at next week’s rate review, sources say, a sign slumping oil prices and a darkening global economic outlook are heightening challenges for hitting its ambitious two percent target.