Reuters

By Promit Mukherjee

OTTAWA (Reuters) - The Bank of Canada (BoC) may dash hopes of a June interest rate cut and instead move in July, which will give it seven more weeks of key data to confirm the recent trend of a slowing economy and continued easing of inflation, some economists said.

Despite April's cooling inflation data released on Tuesday, the money markets are factoring in only a 53% chance of a 25 basis points cut in June, while... (continue reading...)

(Reuters) - China Evergrande New Energy Vehicle said on Wednesday its unit had received a letter from the country's local administrative bodies demanding repayment of 1.9 billion yuan ($262.42 million) given as subsidies and incentives.

($1 = 7.2404 Chinese yuan renminbi)

(Reporting by Poonam Behura in Bengaluru; Editing by Sriraj Kalluvila)

WASHINGTON (Reuters) - U.S. existing home sales unexpectedly fell in April as higher mortgage rates and house prices weighed on demand, dealing another setback to the housing market.

Home sales slipped 1.9% last month to a seasonally adjusted annual rate of 4.14 million units, the National Association of Realtors said on Wednesday. Economists polled by Reuters had forecast home resales would rise to a rate of 4.21 million units.

Sales... (continue reading...)

MOSCOW (Reuters) - A senior ally of Russian President Vladimir Putin attended commemorations in Tehran for the late President Ebrahim Raisi on Wednesday and passed on a message of support for the Iranian leadership from the Kremlin chief.

Russia and Iran have developed close ties in recent years, pushing against what they see as pernicious U.S. foreign policy in an effort to establish what they say would be a fairer multipolar world order.

(Reuters) - Goldman Sachs, Barclays and Morgan Stanley said on Wednesday that a June rate cut from the Bank of England (BoE) now seems less likely, following a smaller-than-expected drop in British inflation.

Goldman said the British central bank will start reducing interest rates from August, dropping its earlier forecast of cuts beginning in June.

The consumer price index (CPI) rose by 2.3% in the 12 months to April, down sharply from... (continue reading...)