Federal Reserve keeps key rate unchanged and still foresees 3 rate cuts this year
WASHINGTON (AP) — Federal Reserve keeps key rate unchanged and still foresees 3 rate cuts this year.
WASHINGTON (AP) — Federal Reserve keeps key rate unchanged and still foresees 3 rate cuts this year.
The Russian central bank's independence is set to be tested as it prepares to hike interest rates on Friday amid growing pressure from opponents - including Russia's most influential corporate executive Igor Sechin - who says it should take cues from China. A Reuters poll of analysts predicts the regulator will raise the benchmark interest rate by 200 basis points to 18% to tame inflation and cool an overheated economy. The central bank has already stated that Friday's meeting will focus on how much - not whether - it should raise rates, a stance which prompted a backlash.
The Bank of England's first interest rate cut since 2020 hangs in the balance next week, with greater uncertainty than usual as key policymakers have not spoken publicly for more than two months due to rules in the run-up to July 4's election. Investors are left guessing whether recent higher-than-expected services prices are enough to prevent the central bank cutting rates from their 16-year high of 5.25%. Interest rate futures show a 50% chance of a quarter-point rate cut on Aug. 1.
(Bloomberg) -- Russia’s central bank raised interest rates for the first time this year, as six months of acceleration in price growth forced policymakers to pivot from plans to start easing in the second half of the year. Most Read from BloombergTrump Risks Losing Voters He Needs With Loaded Attacks on HarrisParis Sticks to Olympics Opening Event Plans After Rail SabotageFed’s Favored Price Gauge Rises at Mild Pace, Spending Holds UpHarris Just Showed Why Trump Is So Afraid of HerUS Accuses Fam
MOSCOW (Reuters) -Russia's central bank hiked its key interest rate by 200 basis points to 18% on Friday, the highest level in more than two years, and vowed to continue tightening until inflation rates in an overheated economy come down. The Bank of Russia raised rates to 20% in an emergency move soon after the Kremlin sent Russian troops into Ukraine in February 2022. "For inflation to begin decreasing again, monetary policy needs to be tightened further," the bank said in a statement.
(Bloomberg) -- There’s mounting uncertainty about when and by how much Justin Trudeau’s government will be able to reduce the number of temporary residents in Canada, muddying a key input for fiscal and monetary policymakers.Most Read from BloombergTrump Risks Losing Voters He Needs With Loaded Attacks on HarrisParis Trains Hit By Sabotage Hours Before Olympics Kick OffHarris Just Showed Why Trump Is So Afraid of HerTrump Won’t Commit to Debate Until Harris Formally NominatedGreat Rotation Trade
(Bloomberg) -- Moldova’s finance minister resigned from the government to take a senior position in the central bank as the eastern European nation seeks to strengthen key institutions.Most Read from BloombergTrump Risks Losing Voters He Needs With Loaded Attacks on HarrisHarris Just Showed Why Trump Is So Afraid of HerStocks Caught in Tug of War Between Tech and Rest: Markets WrapTrump Won’t Commit to Debate Until Harris Formally NominatedI Changed My Mind. The Fed Needs to Cut Rates Now.Petru
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