Russia’s central bank on Friday 20th December 2024 left its key interest rates unchanged at 21% surprising markets The central bank reportedly cited monetary tightness as Moscow wages an ongoing battle with sky-high inflation. What is the rate of inflation in Russia As of November 2024, the rate of inflationRead More →
The Federal Open Market Committee (FOMC) cut its borrowing rate to a range of 4.25% – 4.50%, mirroring its December 2022 level. The Fed indicated that it probably would only lower twice more in 2025, according to the closely watched ‘dot plot’ matrix of individual members’ future rate expectations WhileRead More →
U.S. consumer prices rose at a faster annual pace in November 2024, a reminder that inflation remains an issue both for households and policymakers. The consumer price index (CPI) showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month, the Bureau of Labor Statistics reported Wednesday 11th November 2024.Read More →
The Federal Open Market Committee (FOMC) has reduced its benchmark overnight borrowing rate by 0.25%, bringing it to a target range of 4.50%-4.75%. This move follows September’s significant 0.5% cut. The overnight borrowing rate, while primarily affecting interbank lending rates, also typically impacts consumer debt products including mortgages, credit cards,Read More →
The euro zone’s economy expanded by 0.4% in the third quarter, according to flash figures released by the European Union’s statistics office (Eurostat) on Wednesday 30th October 2024. Economists had anticipated a growth of 0.2%, following a 0.3% increase in the second quarter. Analysts predict that euro zone growth mayRead More →
On Friday 25th October 2024, Russia’s central bank increased its key interest rate by 2% (200 basis points) to 21%, attributing the decision to consumer price increases significantly exceeding its projections and cautioning about persistent high inflation risks in the medium term This rate hike surpasses the 1% (100 basis-point)Read More →
China on Monday 21st October 2024 lowered its main benchmark lending rates by 0.25% The People’s Bank of China (PBOC) has announced a reduction in the one-year loan prime rate (LPR) to 3.1% and the five-year LPR to 3.6%. The one-year LPR affects corporate and most household loans in China,Read More →
On Thursday 17th October 2024, the ECB announced its third interest rate reduction of 2024, as inflation risks within the European Union diminished more rapidly than anticipated. At its October meeting, the central bank decreased the deposit rate by 0.25%. This decision followed a slowdown in the euro area’s priceRead More →
UK inflation fell unexpectedly to 1.7% in the year to September 2024, the lowest rate in three-and-a-half years This indicates that inflation, which is the rate at which prices increase over time, is currently below the Bank of England’s target of 2%, potentially leading to further reductions in interest ratesRead More →
The Federal Open Market Committee (FOMC) has voted to reduce the interest rate by 0.50% after having maintained its benchmark rate within the range of 5.25% to 5.50% since July 2023 The previous rate was the highest seen for 23 years and remained unchanged even though the Fed’s favoured inflationRead More →
In August 2024, wholesale prices saw an increase that was roughly in line with expectations, marking the final inflation data point before the Federal Reserve’s anticipated interest rate cut due on 18th September 2024 The Bureau of Labor Statistics announced on Thursday 12th September 2024 that the producer price indexRead More →
On Thursday, 12th September 2024, the European Central Bank announced a 0.25% interest rate cut, its second reduction of the rate this year This expected decision follows a period of sluggish economic growth in the eurozone and a decrease in inflation, which approached the central bank’s 2% target in August.Read More →
The Bank of England (BoE) on Thursday 1st August 2024 announced its first-interest rate reduction in more than four years, taking the key rate to 5%. Although numerous analysts predicted that the Bank of England might announce a reduction in interest rates at its August 2024 meeting, the absence ofRead More →
FOMC hold rates steady at 5.25% – 5.50% Federal Reserve Chair Jerome Powell ended a press conference in which he gave markets exactly what they wanted; a strong indication of a September 2024 rate cut. Powell says September 2024 rate cut ‘on the table’ if inflation continues to cool. FederalRead More →
The personal consumption expenditures price index (PCE) increased 0.1% in June 2024 and was up 2.5% from a year ago, with the annual rate showing a slight decline from the prior month Core inflation, which excludes food and energy, showed a monthly increase of 0.2% and 2.6% on the year,Read More →
Gold prices climbed to $2,482 per ounce, hitting an all-time high. Gold prices continued to peak at new record highs Tuesday and Wednesday 15th and 16th July 2024. On Monday 15th July 2024, Powell reportedly said the Fed won’t wait for inflation to reach the central bank’s 2% target before it begins cutting,Read More →
Jerome Powell appears to be further paving the way for a rate cut at the next meeting in July 2024. Federal Reserve Chair Jerome Powell reportedly said Monday 15th July 2024 that the central bank will not wait until inflation hits 2% to cut interest rates. Powell referenced the idea that centralRead More →
Bank of England offers no election help to Rishi Sunak as the UK interest rate is held at 5.25%. Not that they should. But the UK inflation is on target now at 2% so that’s some consolation. The PM claimed credit as the inflation target was met – happily informingRead More →
UK interest rates have been left unchanged at 5.25% by the Bank of England (BoE) The Bank has maintained the interest rates at 5.25% for the seventh consecutive time to combat inflation, resulting in increased mortgage repayments and higher savings rates. The interest rates, at their peak for the pastRead More →
The Fed in March 2024, indicated for the markets to expect three interest rate cuts by the end of 2024 – but what if this didn’t happen? The Federal Reserve’s decision to maintain interest rates in 2024 could have significant implications for the U.S. economy. Fed cred – credibility wouldRead More →
In February 2024, inflation decreased to 3.4%, a decline from January’s 4%, moving closer to the Bank of England’s self-imposed target of 2% This reduction signifies that the cost of living is increasing at its least rapid rate since September 2021, when it was recorded at 3.1%. Since reaching aRead More →
In January 2024, inflation logged its biggest monthly jump since August with a 6.7% rise from December 2023. Year-on-year inflation hit nearly 65%, according to the Turkish Central Bank’s figures released Monday 5th January 2024 The consumer price index (CPI) for the country of 85 million people increased by 64.86%Read More →
Federal Reserve Chair Jerome Powell said in a U.S. TV interview on Sunday 4th January 2024 that the central bank will proceed carefully with interest rate cuts this year and likely will move at a considerably slower pace than the market expects. Election year rate cuts? In the interview andRead More →
UK interest rates have been held at 5.25%. This is the third time in a row the Bank of England has opted to hold rates the same. The decision, which was widely expected by financial markets, means borrowing costs will remain at their highest level for 15 years. the BankRead More →
The Dow Jones Industrial Average (DJIA) hit a new all-time high, on 13th December 2023. It closed at 36799 surpassing its previous record of 36585points that it had set on 4th January 2022. This was the fourth consecutive record close for the index. Record high The Dow’s record high was driven primarily by theRead More →
Fed holds U.S. rates at 5.5%, indicates three cuts coming in 2024 The Federal Reserve on Wednesday 13th December 2023 held its key interest rate steady for the third time in a row and set the scene for multiple rate cuts in 2024 and 2025. With inflation easing and theRead More →