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ECB Could Hike Rates in June Should Inflation Outlook Not Improve, Nagel Says
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- Bundesbank President Joachim Nagel said the ECB could hike interest rates next month if eurozone inflation rises due to the Iran war.
- The ECB held its key rate at 2.0% last week, but President Christine Lagarde said that rate setters had discussed the possibility of a rate hike.
- Investors expect three to four rate hikes this year, with most anticipating one in June, according to LSEG.
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Australia’s Central Bank Raises Rates for Third Straight Meeting
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- The Reserve Bank of Australia raised its official cash rate by 25 basis points to 4.35% on Tuesday, citing a deteriorating inflation outlook.
- The RBA board noted inflation is likely to remain above its 2.5% target, with risks tilted to the upside.
- Household spending rose 1.6% in March, its strongest rise in 30 months, amid heightened uncertainties for the economy.
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Bank of Canada Gov. Macklem Vows Action If Affects From High Energy Prices Spread
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- Bank of Canada Gov. Tiff Macklem expects inflation to peak in April, easing to a 2% target by early 2027.
- The central bank kept its main interest rate at 2.25% and may increase rates if energy prices remain elevated.
- Traders priced in two rate increases by the end of 2026, amid rising oil prices and the Bank of Canada’s “delicate balancing act.”
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EU Trade Chief Plans to Meet U.S. Counterpart in Paris
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- U.S. President Trump announced he would raise tariffs on cars from the European Union to 25% from 15%.
- European Union trade chief Maros Sefcovic is expected to meet U.S. Trade Representative Jamieson Greer in Paris.
- The EU is finalizing legislation to lower tariffs on U.S. goods, informing the U.S. administration of its progress.
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Swiss Inflation Climbs to Highest Since 2024 as Energy Prices Surge
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- Swiss inflation rose to 0.6% in April, its highest level since December 2024, due to climbing imported energy costs from the Iran war.
- The 0.6% inflation rate exceeds the Swiss National Bank’s 0.5% average forecast for 2026 and 2027, reinforcing arguments against negative rates.
- Petroleum product prices increased 17% on year, while investors now expect one quarter-point rate hike by the Swiss National Bank this year.
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SEC to Settle Lawsuit Against Elon Musk Over Twitter Share Purchases
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- The SEC is settling a lawsuit against Elon Musk over his late disclosure of Twitter shares, with his family trust paying a $1.5 million fine.
- The settlement reflects the SEC’s shift away from aggressive enforcement under the Trump administration and its relations with Musk.
- The settlement simplifies matters for Musk, who plans to take his rocket company SpaceX public this summer in a potentially record IPO.
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She Blew the Whistle on Deutsche Bank to the SEC. Her Award: $0.
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- The SEC denied a whistleblower award to Desiree Fixler, a former Deutsche Bank executive, for first reporting her claims to the news media.
- Fixler is appealing the SEC’s rejection in federal court, arguing the agency’s definition of “voluntary” information is flawed.
- The SEC’s whistleblower program has paid over $2 billion to tipsters since 2011, but awards totaled $60 million last year, the lowest since 2019.
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WSJ Pro Central Banking brings you news and analysis from a global team of reporters and editors at The Wall Street Journal and Dow Jones Newswires. Send your tips, suggestions and feedback to service@dowjones.com. An artificial-intelligence tool created these summaries, which are based on the text of the article and checked by an editor. Read more about how we use artificial intelligence in our journalism.
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