• The Canadian Press

    Trump backs Kevin McCarthy protege in California special election for former speaker's seat

    LOS ANGELES (AP) — A California legislator backed by former President Donald Trump and a sheriff who promises to harden the nation’s porous borders are facing off in a special U.S. House election to complete the remaining term of deposed former Speaker Kevin McCarthy, which runs through January. State Assembly member Vince Fong, a onetime McCarthy aide who also has his endorsement, and Tulare County Sheriff Mike Boudreaux, both Republicans, are among a cluster of candidates in the solidly conser

  • Reuters

    FOREX-Yen slides after BOJ ends negative rates; Aussie falls

    The yen fell on Tuesday after the Bank of Japan (BOJ) ended its negative interest rate policy in a monumental but highly anticipated decision, while the Australian dollar also slid after its central bank kept rates steady. The BOJ ended eight years of negative interest rates and other remnants of its unorthodox policy at the conclusion of its two-day policy meeting, making a historic shift away from decades of massive monetary stimulus. The BOJ also said on Tuesday it will reduce the amount of government bonds it will purchase after ending its negative interest rate policy and abolishing yield curve control, while also discontinuing purchases of exchange-traded funds and Japanese real estate investment trusts.

  • The Canadian Press

    The Bank of Japan ends its negative interest rate policy, opting for its first hike in 17 years

    TOKYO (AP) — Japan’s central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The short-term rate was raised to a range of 0 to 0.1% from minus 0.1% at a policy meeting that confirmed expectations of a shift away from ultra-lax monetary policy. It’s the first rate hike since February 2007. The bank had set an inflation target of 2% as an indicator that Japan had finally escaped deflationary