Week Ending 26th July 2024 Friday the Dow closes more than 600 points higher as investors gear up for rate cuts. trong corporate earnings have helped stocks notch repeated record highs in 2024, despite stubborn inflation forcing investors to dial down their expectations for how many times the Fed will cut rates this year. But […]
View PostUK Interest rates held at 5.25%
The Bank of England has held interest rates at 5.25% for the seventh time in a row. The decision to maintain the cost of borrowing comes despite official figures yesterday which revealed inflation had fallen to the Bank’s target of 2% for the first time in nearly three years. However, the move by its Monetary […]
View PostUS interest rate forecast to be cut just once in 2024
US interest rates are to be cut just once this year, according to updated forecasts from its central bank. The cost of US borrowing was kept at a more than 20-year high despite news on Wednesday that inflation, the rate of price rises, fell to the lowest level in more than three years at 3.4%The […]
View PostUK Interest rate held and UK economy no longer in recession
The Bank of England has edged closer to a cut in interest rates, with another member of its nine-person Monetary Policy Committee (MPC) voting for lower borrowing costs this month. While the MPC voted 7-2 to leave UK interest rates on hold at 5.25%, the change in the vote will be seen as a further […]
View PostFed holds US interest rates again
The US central bank, the Fed, has again kept interest rates high – at 5.25% to 5.5%. It comes despite the policymaker signaling in January that interest rate cuts were around the corner. Progress in bringing down rates and making borrowing cheaper has been hampered by rising inflation in the US. It could now be […]
View PostYellen: US economy strong
Despite a weaker-than-expected first-quarter GDP reading, the US economy is “firing on all cylinders” and inflation is on a path toward a more normal level, US Treasury Secretary Janet Yellen said Thursday in an interview with Reuters. Yellen on Thursday was interviewed by Reuters’ editor in chief Alessandra Galloni as part of the news organization’s […]
View PostUK economy grows for second month in a row
The UK economy has grown slightly for the second month in a row, official figures show. Gross domestic product (GDP) grew just 0.1% in February, the Office for National Statistics (ONS) said. It’s another signal that the UK Economy is working its way out of recession. Growth of 0.3% was recorded last month – and that […]
View PostBank of England keeps interest rate at 5.25%
The Bank of England has held interest rates at 5.25% for a fifth consecutive time, but says the prospects for a cut are now “moving in the right direction”. The nine-member rate-setting committee continued to collectively judge it was too early to contemplate a downwards move, despite further progress in taming inflation revealed earlier this […]
View PostUK economy returns to growth
Growth returned in the UK economy in January, according to official figures. The measure of everything produced in the UK – a metric called gross domestic product (GDP) – rose 0.2%, the Office for National Statistics (ONS) said. It’s the first official economic growth announcement since a recession was declared last month as there were […]
View PostUK Inflation rate remains at better than expected
The UK rate of inflation has remained at 4% – despite forecasters predicting a rise, official figures show. The consumer price index (CPI) measure of inflation stood at 4% in January, the Office for National Statistics (ONS) said. It’s the same as in December and below economists’ expectations, including the Bank of England. The central […]
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