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More rate cuts could reignite inflation, hurt Fed credibility, Bostic says

WASHINGTON, Dec 16 (Reuters) - Further interest rate cuts could put U.S. monetary policy on an accommodative footing that stimulates economic growth and puts the country at risk of a new jump in inflation and inflation expectations, Atlanta Federal Reserve President Raphael Bostic said on Tuesday.

Dec 16, 2025 - 4:46 PM

Dallas Fed paper argues federal funds rate transmission effectiveness waning

NEW YORK, Dec 16 (Reuters) - New research from the Federal Reserve Bank of Dallas is building the case for a change in the interest rate the central bank targets to achieve its monetary policy goals.In a paper, opens new tab released Tuesday, Sam Schulhofer-Wohl, who serves as senior advisor to Dallas Fed president Lorie Logan, says that the tri-party general collateral rate, or TGCR, works better as a tool of monetary policy transmission compared to the federal funds rate.

Dec 16, 2025 - 4:39 PM

Canadian dollar extends recent gains as US labor market cools

TORONTO, Dec 16 (Reuters) - The Canadian dollar strengthened to a near three-month high against its U.S. counterpart on Tuesday after mixed U.S. jobs data that could strengthen the case for a divergence in policy between the Bank of Canada and the Federal Reserve next year.The loonie was trading 0.2% higher at 1.3743 per U.S. dollar, or 72.76 U.S. cents, after touching its strongest intraday level since September 17 at 1.3731.

Dec 16, 2025 - 4:36 PM

Dollar eases against peers after better-than-expected U.S. jobs data

NEW YORK, Dec 16 (Reuters) - The U.S. dollar eased against major peers on Tuesday after the release of delayed economic data showing stronger-than-expected jobs growth, signalling that the Federal Reserve might be cautious in continuing to cut interest rates in the near term.The U.S. economy added 64,000 jobs in November, surpassing an estimate from economists polled by Reuters. That came after the economy shed 105,000 jobs in October, according to Labor Department data.The employment report was delayed because of the 43-day U.S. federal government shutdown.

Dec 16, 2025 - 4:34 PM

US job growth snaps back in November; shutdown distorts unemployment rate

WASHINGTON, Dec 16 (Reuters) - U.S. job growth rebounded more than expected in November after government-related spending cuts triggered the biggest drop in nonfarm payrolls in nearly five years in October, suggesting no material deterioration in labor market conditions as businesses navigate economic uncertainty wrought by President Donald Trump's aggressive trade policy.

Dec 16, 2025 - 4:33 PM

Korea Zinc shareholders ask court to block share sale in $7.4B US project

Two major Korea Zinc shareholders asked a court on Tuesday to block the company’s plan to sell new shares – part of a scheme to help fund a $7.4 billion US smelter, which would be built in partnership with the US government.The filing for an injunction with the Seoul Central District Court threw doubt over the project and sent shares in the world’s largest zinc smelting company plummeting 14%.

Dec 16, 2025 - 4:29 PM

South32 to mothball Mozambique smelter in March as power talks collapse

Australia’s South32 said on Tuesday it will place the Mozal aluminum smelter in Mozambique under care and maintenance by March, incurring a $60 million one-off cost, after failing to secure a power deal with the government.Negotiations between the Perth-based firm and Mozambique’s government and power suppliers have been going on for several years to reach an agreement for the smelter’s energy-intensive operations.

Dec 16, 2025 - 4:24 PM

Pan Pacific Copper sells stake in Peruvian mine to Glencore

Japan’s JX Advanced Metals on Tuesday said its Pan Pacific Copper (PPC) unit sold its entire stake in the undeveloped Quechua copper project in Peru to Swiss trader and miner Glencore for an undisclosed sum.The sale is part of JX’s effort to reorient its portfolio toward its advanced materials business and away from its more volatile mining operations, while giving Glencore a key new project in the Andean nation.

Dec 16, 2025 - 2:29 PM

Chinese court sentences 27 people for smuggling antimony ingots

A Chinese court imposed jail sentences and fines on Tuesday on 27 people for shipping antimony ingots out of the country without export licences, in a ruling that highlights how China is tightening enforcement of its controls on strategic minerals.China is the world’s largest producer of antimony, which is used in batteries, chips, flame retardants and the defence sector. Beijing added antinomy to its export control list in September 2024.

Dec 16, 2025 - 2:28 PM

Ivory Coast miners start paying higher royalties after failed resistance

Gold mining companies in Ivory Coast have begun paying a new 8% royalty on revenue, backdated to January, after months of disputing the legality of the levy, three industry sources told Reuters.Reuters previously reported that the world’s top cocoa producer, which is seeking to diversify its economy, replaced the previous 3% to 6% range linked to contract terms with the flat 8% rate.

Dec 16, 2025 - 2:26 PM

Guinea, EGA in bauxite supply deal talks

Guinea is in talks with Emirates Global Aluminium over a possible bauxite supply agreement that would see the company source the aluminum feedstock from Guinea’s state-owned Nimba Mining, three people familiar with the matter said.Guinea’s military-led government revoked the licence of EGA subsidiary Guinea Alumina Corporation in July following a year-long dispute over the construction of an alumina refinery. It then handed its mining assets over to Nimba Mining.

Dec 16, 2025 - 2:23 PM

Equities fall with US Treasury yields after data, oil sinks

NEW YORK/ PARIS, Dec 16 (Reuters) - MSCI's global equities gauge fell on Tuesday and 10-year U.S. Treasury yields were lower for a second day as investors assessed the latest U.S. jobs data, while oil prices sagged as talks appeared to boost the prospects for a Russia-Ukraine peace deal.

Dec 16, 2025 - 1:10 PM

Bank of Canada wants stablecoins to be backed by high-quality liquid assets

By Promit Mukherjee and David LjunggrenOTTAWA, Dec 16 (Reuters) - The Bank of Canada says regulations on future Canadian stablecoins must ensure they are backed by high-quality liquid assets and be pegged one-to-one to a central bank currency, Governor Tiff Macklem said on Tuesday.The Liberal government said in November that it would be introducing regulations next year for stablecoins, a form of cryptocurrency which are convertible to a fiat currency at par."We want stablecoins to be good money, like bank notes or money on deposit at banks," Macklem said.

Dec 16, 2025 - 1:05 PM

Gold inches up as US unemployment rate rises in November

Dec 16 (Reuters) - Gold rose on Tuesday after a U.S. jobs report showed the unemployment rate rose last month from September, reinforcing bets of rate cuts by the U.S. Federal Reserve and sending the dollar index lower.

Dec 16, 2025 - 12:55 PM

European equities end lower as investors assess US data; defence firms tumble

Dec 16 (Reuters) - European shares dipped on Tuesday, led by sharp declines in defence and energy shares, with investors parsing disappointing domestic and U.S. jobs data.The pan-European STOXX 600 (.STOXX), fell 0.4% to 580.08, after marking its biggest one-day gain in close to three weeks on Monday.Most major regional bourses were in the red with benchmark indexes in London (.FTSE), and Germany (.GDAXI), shedding 0.6% each.

Dec 16, 2025 - 12:51 PM

TSX falls for third straight session as oil prices tumble

Dec 16 (Reuters) - Canada's main stock index dipped for the third successive session on Tuesday, as heavyweight energy stocks followed oil prices lower.The S&P/TSX Composite index (.GSPTSE), fell 0.4% to 31,351.47 points as of 10:31 a.m. ET, and was set for its lowest close in a week.Canada's energy sector (.SPTTEN), tumbled 3% as oil prices , sank below $60 after prospects of a Russia-Ukraine peace deal appeared to strengthen.

Dec 16, 2025 - 12:10 PM

White House adviser Hassett: Fed independence is really important

WASHINGTON, Dec 16 (Reuters) - White House economic adviser Kevin Hassett, one of President Donald Trump's top contenders to lead the Fed, said the independence of the central bank was important, amid concerns he might be too close to the president."The Federal Reserve's independence is really, really important," Hassett said in an interview with CNBC.He also said there was plenty of room to lower interest rates in the U.S. economy, something Trump has been pushing since retaking office.

Dec 16, 2025 - 11:40 AM

Dollar drops against peers after delayed U.S. data shows jobs growth

NEW YORK, Dec 16 (Reuters) - The U.S. dollar fell against major peers on Tuesday after the release of delayed economic data showing stronger-than-expected jobs growth, signalling that the Federal Reserve might be cautious in continuing to cut interest rates in the near term.The U.S. economy added 64,000 jobs in November, surpassing an estimate from economists polled by Reuters. That came after the economy shed 105,000 jobs in October, according to Labor Department data.The employment report was delayed because of the 43-day U.S. federal government shutdown.

Dec 16, 2025 - 11:39 AM

Wall St flat as healthcare losses offset tech gains; focus on jobs data

Dec 16 (Reuters) - Wall Street's main indexes were little changed in volatile trading on Tuesday as healthcare and energy stocks led losses, while investors assessed a jobs report that signaled a cooling labor market and kept hopes for future interest rate cuts alive.A Labor Department report showed U.S. job growth rebounded in November after nonfarm payrolls declined in October because of government spending cuts.

Dec 16, 2025 - 11:37 AM

US Treasury's Bessent says next Fed chair needs 'an open mind'

WASHINGTON, Dec 16 (Reuters) - Both Kevin Warsh and Kevin Hassett are qualified to lead the Federal Reserve, U.S. Treasury Secretary Scott Bessent said on Tuesday, adding that any candidate President Donald Trump picks for the job needs to have "an open mind"."They are both very, very qualified," Bessent said in an interview with Fox Business Network.Trump told the Wall Street Journal last week that he was leaning toward either Warsh, a former Fed governor, or Hassett, director of the White House National Economic Council.

Dec 16, 2025 - 9:35 AM

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