Yellen: 'Gradual' Rate Increases Will Be Needed to Sustain Economic Expansion
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The Federal Reserve will need to keep gradually raising its benchmark interest rate over the next few years, but that rate won't need to rise to levels seen in previous cycles, Fed Chairwoman Janet Yellen said in congressional testimony.
Stocks Climb as Investors Look to Yellen for Clues
Stocks and government bond prices rose after Janet Yellen said the Fed will need to keep gradually raising rates, but they won't need to reach levels of previous cycles.
Long the Crisis Currency, the Euro's Surge Could Last
Once dubbed a crisis currency, the euro has outperformed its peers against the dollar and investors are betting there are gains to come.
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Bank of Canada Raises Policy Rate for First Time Since 2010
The Bank of Canada raised its policy rate to 0.75% from 0.50%, its first increase in seven years, on an improving economy that is soaking up unused labor and production capacity at a "significant" pace.
OPEC Output Rose in June Despite Planned Cuts
The Organization of the Petroleum Exporting Countries produced more crude oil in June despite efforts to cut output and alleviate the global oil glut.
Chinese Banks Continued to Exceed Loan-Volume Expectations in June
Chinese banks extended higher-than-expected volume of loans last month even as growth in the money supply continued to slow amid Beijing's efforts to reduce leverage in its financial system.
Oil Climbs Ahead of Official U.S. Stockpile Data
Crude prices continued to advance on optimism that U.S. inventories likely shrank again last week.
Mexican Industrial Production Rose in May
Mexican industrial production rose in May from April, its first increase in four months as a pickup in construction offset a slip in manufacturing output, the National Statistics Institute said.
European Commission Urges End to Disciplinary Measures Against Greece
The European Union should end disciplinary procedure against Greece over its excessive deficit, the European Commission said in a largely symbolic yet timely move, as the government considers when it should tap the bond markets.
EU's Barnier Says U.K. Must Honor Its Spending Pledges
Britain must stand by the past spending commitments it has made to the European Union if it wants to progress during Brexit talks into discussions on a future trade deal, the EU's chief negotiator Michel Barnier said on Wednesday.
(END) Dow Jones Newswires
July 12, 2017 11:15 ET (15:15 GMT)