Britain’s annual rate of consumer price inflation unexpectedly rose to its highest in over a year at 3.6% in June, up from 3.4% in May, above economists’ expectations in a Reuters poll for the rate to remain unchanged, official figures showed on Wednesday. British inflation has risen steadily since touching a three-year low of 1.7%…
June’s Consumer Price Index (CPI) report likely gives the Federal Reserve room to continue its wait-and-see approach to cutting rates amid uncertainty over how President Trump’s tariffs will impact inflation. On a “core” basis, which excludes volatile food and energy costs, CPI increased 0.2% from the previous month, slightly lower than economists’ expectations but ahead…
The Shanghai Composite index was barely changed, holding at 3,510.18. (Reuters pic) HONG KONG: China stocks gave up most of their gains and closed flat today, weighed down by a drop in bank shares, while Hong Kong shares held on to gains after a Goldman upgrade. At market close, the Shanghai Composite index was barely…
By Elena Fabrichnaya ST PETERSBURG, Russia (Reuters) -Every 1% cut in central bank interest rates gives Russia’s VTB Bank an extra 20 billion roubles ($250 million) in net profit, CFO Dmitry Pyanov told Reuters, which benefits the government as the state-owned lender plans to distribute 50% of its profits via dividends – half of it…
A Bank of England policymaker has urged for three additional interest rate cuts in 2025, warning that the inflation outlook faces heightened risks from global trade difficulties. Alan Taylor, an external member of the Bank’s Monetary Policy Committee, cautioned that rates must fall more rapidly given the “deteriorating outlook” for the economy. Speaking at the…
The June jobs report is expected to show hiring slowed while the unemployment rate moved higher. The data’s release will come as investors closely watch for any further signs of slowing in the US labor market amid growing debate over when the Federal Reserve will cut interest rates next. Read more: How the Fed rate…
President Trump announced a trade deal with Vietnam, lifting investor sentiment that more agreements could come before the July 9 tariff-pause deadline. “The Terms are that Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping,” Trump wrote on social…
The latest reading of the Federal Reserve’s preferred inflation gauge showed price increases accelerated in May as inflation remained above the Fed’s 2% target. The release comes as investors have been closely watching data releases for signs of when, or if, the Federal Reserve will cut interest rates this year. The “core” Personal Consumption Expenditures…
Here’s a look at how today’s savings account rates stack up. The Federal Reserve cut the federal funds rate three times in late 2024, which means deposit rates are now falling. It’s more important than ever to ensure you’re earning the highest rate possible on your savings, and a high-yield savings account could be the…
Fed Chair on why rates stayed steady Fed Chair Jerome Powell explains why rates stayed steady, unlike in December 05:11 Federal Reserve Chair Jerome Powell reiterated his view that the central bank should keep interest rates steady for now, citing inflation risks from U.S. tariffs. Powell, who made his remarks in prepared testimony Tuesday before the…