Federal Reserve signals more rate hikes to slay inflation and warns against market optimism January 4, 2023 The US Federal Reserve needs “substantially more evidence” proving inflation is falling quickly from red hot levels before ending its aggressive interest rate hike campaign, minutes from its latest meeting reveal. Officials at the world’s most influential central bank unanimously agreed to slow the pace of rate increases to 50 basis points in December from [...]
Euro on course for worst day since September in poor start to 2023 January 3, 2023 The euro has kicked off 2023 poorly, with investors ditching the common currency and flooding back into the US dollar. The currency used by the now 20 countries that make up the eurozone after Croatia joined the union earlier this month was on track for its steepest drop against the greenback since September last year [...]
US Federal Reserve ushers in global rate hike slow down with 50 point rise December 14, 2022 The US Federal Reserve has tamed the pace of its aggressive interest rate hike campaign tonight, but signalled borrowing costs will eventually peak much higher than previously expected. Chair Jerome Powell and the rest of the federal open market committee (FOMC) backed a 50 basis point rise in the world’s most important interest rate, climbing [...]
US inflation falls quicker than expected nailing on slow down from Federal Reserve December 13, 2022 US inflation fell again last month to its lowest level since the end of 2021 in another sign this year’s price surge in the world’s biggest economy has passed its peak, official figures out today reveal. Consumer prices climbed 7.1 per cent over the last year to November across the pond, down from a rate [...]
City braces for final economic figures before Christmas break December 11, 2022 The City is bracing for a string of big economic announcements in what will be the final busy week of news before the Christmas break. Tomorrow, fresh gross domestic product (GDP) figures from the Office for National Statistics (ONS) are expected to show the UK economy recovered in October. But, the 0.4 per cent growth [...]
Pound hits highest level against US dollar since early August and posts best monthly gain since 2020 December 1, 2022 The pound has climbed to its highest level against the US dollar since early August driven by investors betting on slower interest rate rises across the pond. Sterling bounced above $1.22 and was up over 1.2 per cent against the dollar heading into late afternoon trading today. US Federal Reserve chief Jerome Powell last night [...]
Federal Reserve could scale back interest rate hikes from December November 30, 2022 The Federal Reserve could scale back the pace of its interest rate hikes "as soon as December," revealed Fed Chair Jerome Powell.
Eurozone inflation drops for first time since mid 2021 and may have ‘passed its peak’ November 30, 2022 Inflation in Europe fell for the first time since mid 2021 and may have passed its peak, fresh figures out today reveal. Prices across the 19 countries using the euro climbed 10 per cent over the year to November, down from a rate of 10.6 per cent in October, according to Eurostat. The drop was [...]
Investors hope for US jobs market slowdown to appease Federal Reserve November 27, 2022 Signs of a further slowdown in the US jobs market convincing the Federal Reserve to slow its interest rate hike cycle will top investors’ wish list this week. London’s FTSE 100 index notched a decent showing last week, climbing 1.37 per cent to close at 7,486.67 points, while the domestically-focused mid-cap FTSE 250 index rose [...]
Pound reverses all damage done during Liz Truss premiership November 24, 2022 The pound has strengthened to its highest level against the US dollar in three months, reversing all the damage done to the currency since Liz Truss’s ill-fated premiership. Sterling today climbed 0.7 per cent against the greenback, hitting $1.21. A combination of the US Federal Reserve signalling it will slow its aggressive interest rate hike [...]