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May 01 2024
News
Fed meeting live updates: Federal Reserve to decide today what's next for interest rates
It’s deja vu all over again: The Federal Reserve is expected to take no action on interest rates at its monthly meeting on Wednesday, leaving them perched at a 23-year high as the market ponders when the cutting will commence. If that scenario plays out, the central bank’s key short-term rate will remain at 5.25% to 5.5%, where it has sat since July. • The Fed’s decision will be announced at 2
"USA Today" ContributorApr 25 2024
News
High interest rates catch up to economic growth as GDP slows dramatically to 1.6%
The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic growth — kept spending at a solid pace. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s total output of goods and services — decelerated in the January-March quarter from its brisk 3.4% growth rate
FortuneApr 11 2024
News
European Central Bank holds interest rates, hints at cut ahead
Christine Lagarde, president of the European Central Bank (ECB), at a rates decision news conference in Frankfurt, Germany, on Thursday, March 7, 2024. The European Central Bank on Thursday held interest rates steady for a fifth straight meeting, as anticipation builds for rate cuts in June. "If the Governing Council's updated assessment of the inflation outlook, the dynamics of underlying
CNBCApr 11 2024
News
ECB Holds Interest Rates and Firms Path to First Cut in June
The European Central Bank held interest rates steady for a fifth meeting, while sending its clearest signal yet that cooling inflation will soon allow it to commence cuts.
The deposit rate was left at a record-high 4%, as overwhelmingly predicted by a Bloomberg poll in which only one of 62 economists saw a decrease. But the Governing Council added wording to its accompanying statement
BloombergApr 16 2024
News
The sobering message from the Fed: Interest rate cuts aren’t coming soon
Federal Reserve officials signaled a more sober tone this week, emphasizing that they’re in no rush to cut interest rate cuts this year. On Tuesday, Fed Chair Jerome H. Powell laid out his case for why borrowing costs could stay higher for longer than the central bank expected just a few weeks ago. Since the start of the year, Powell and his colleagues had said they are looking for more
Washington PostApr 08 2024
News
The Dow waits for a big inflation report with interest rate cuts in limbo
The Dow Jones Industrial Average and the other major U.S. stock indexes started the week in neutral on Monday, with investors keeping a close eye on inflation data later in the week. The latest Consumer Price Index report will be released Wednesday and is expected to be a major factor in whether or not the Federal Reserve cuts interest rates later this year. The Dow was up 53 points, or 0.1%,
QuartzMar 22 2024
News
Colombia Accelerates Interest Rate Cuts to Revive Weak Growth
Colombia doubled the pace of interest rate cuts to revive the weak economy as inflation slows toward its target.
The central bank lowered its benchmark interest rate by half a percentage point to 12.25% in a split decision, Governor Leonardo Villar told reporters in Bogota on Friday. The move was forecast by by 26 of 30 economists surveyed by Bloomberg, while one expected a smaller cut
BloombergApr 10 2024
News
Biden says inflation report ‘may delay’ expected interest rate cut
President Biden on Wednesday said that the March report on inflation, which ticked higher, may delay an expected interest rate cut from the Federal Reserve. Biden last month predicted the Federal Reserve will cut interest rates, a move that could give the president a boost ahead of November’s election while he campaigns on his work to improve the economy and combat inflation. He said on
The HillMar 05 2024
News
Egypt Unexpectedly Hikes Interest Rates as Devaluation Looms
Egypt’s central bank hiked interest rates by 600 basis points at an unscheduled meeting, as it looks to ease a dire shortage of foreign exchange in the country and get a new multi-billion-dollar loan from the International Monetary Fund.
The move on Wednesday takes the key rate to 27.25% and may signal a devaluation of the Egyptian pound is imminent. The central bank also said that
Bloomberg