News Highlights: Top Global Markets News of the Day - Wednesday at 9 AM ET

World Economy on Track for Slight Pickup as Inflation Is Tamed 
 

Falling interest rates and recovering real wages will help drive a slight pickup in global economic growth this year and next, while recent falls in oil prices could aid the final push to tame inflation, the OECD said.

 
China's Central Bank Adds to Easing Blitz With Another Rate Cut 
 

The People's Bank of China delivered another policy rate cut, a day after announcing a slew of monetary easing measures to aid the economy amid concerns that Beijing's annual growth target is increasingly out of reach.

 
The High-Stakes Spat Over How Much Oil the World Really Needs 
 

OPEC is sticking with its estimate that the world will need an extra two million barrels a day this year, despite signs this is unrealistic.

 
Chinese stocks extend gains after Beijing's stimulus bazooka 
 

Chinese stocks on Wednesday extended their rally triggered by Beijing's stimulus bazooka, though optimism elsewhere in the region could not be sustained

 
China Urges U.S. to Drop Proposed Ban on Chinese Car Components 
 

China's commerce ministry has urged the U.S. to drop proposed restrictions on Chinese auto software and hardware, saying it will take the "necessary measures" to protect national companies.

 
Sweden's Central Bank Cuts Key Rate; Sees Two More Cuts This Year 
 

The Riksbank cut its key interest rate for the third time this year and said borrowing costs will likely be lowered again soon as a faltering economy threatens to push inflation further below its target.

 
Australia's Headline Inflation Rate Falls Back to Target 
 

Headline inflation rate fell to within the Reserve Bank of Australia's target band for the first time since 2021 in August, but economists warn that this won't trigger an immediate rate cut.

 
Stock-market indicator with a near-perfect track record is flashing a 'buy' signal 
 

One closely-watched stock-market indicator is flashing a bright-red buy signal as more companies' shares join the rally.

 
Bank of Canada Gov. Macklem Says Growth Needs to Accelerate to Maintain 2% Inflation 
 

Bank of Canada officials want growth to accelerate and absorb the sizable amount of spare capacity in the economy, Gov. Tiff Macklem said Tuesday, arguing this is a requisite to keep inflation at or near its current 2% level.

 
Canadian Grain Terminal Workers Strike, Risking Exports 
 

The walkout on Canada's west coast is the latest in a string of labor actions to hit the country's supply chains.

(END) Dow Jones Newswires

September 25, 2024 09:15 ET (13:15 GMT)

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