Hong Kong's GDP Growth Slows to 2.7% in Q1, Revised Figures Say

GDP during the preceding quarter rose by 4.3%, while the seasonally-adjusted GDP rose by 2.3%, the report said.

MT NewswiresMay 17 06:35 ET

Hong Kong's GDP grew 2.7% year on year in the first quarter and remained unchanged at 2.5% to 3.5% for the whole year

On May 17, the Hong Kong Government published the “Economic Report for the First Quarter of 2024” and revised GDP figures for the first quarter of 2024.

Zhitong FinanceMay 17 04:56 ET

ECB's Schnabel Lobbies Against Back-to-back Rate Cuts

European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.

MarketWatchMay 17 04:36 ET

ECB Executive Director Schnabel: There is no need to cut interest rates continuously in June and July and be wary of the risk of premature relaxation

ECB Executive Board member Isabel Schnabel warned against successive interest rate cuts in June and July.

Zhitong FinanceMay 17 02:57 ET

The ECB Executive Committee said it was appropriate to cut interest rates in June, but there is no need to cut interest rates in July!

ECB Executive Director Schnabel said that cutting interest rates in June is appropriate, but according to current data, there seems to be no need to cut interest rates in July; a cautious attitude should be taken. Inflation risks are still biased upward. If the easing process is put ahead, there is a risk of premature easing.

FX678 FinanceMay 17 02:22 ET

French Unemployment Rate Remains at 7.5% in Q1

France's unemployment rate stood at 7.5% in the first quarter, unchanged from the prior three-month period, the statistics agency Insee said Friday. Analysts expected a 7.4% rate for the quarter.

MT NewswiresMay 17 01:47 ET