Last week, Sweden’s Riksbank shaved another quarter point from its key interest rate, dropping it to 3.25 percent as forecast by a Wall Street Journal survey of economists.
Tag: inflation
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WORLD ECONOMY WILL GROW 3.2 PERCENT THIS YEAR, OECD SAYS
Falling interest rates and the slowdown in inflation is giving households more money to spend, which will enable the global economy to grow 3.2 percent this year and by the same percentage in 2025, according to an analysis by the Organization for Economic Cooperation and Development (OECD).
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INFLATION, CONSUMER SPENDING BARELY BUDGE IN AUGUST
The Personal Consumption Expenditures Price Index, which is the U.S. Federal Reserve’s favorite inflation measure ticked up just 0.1 percent in August from July, its smallest rise in three months, the Bureau of Economic Analysis reported.
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WILL FED’S RATE CUT HELP THE HARRIS CAMPAIGN?
The numbers show that the U.S. economy, while Joe Biden and Kamala Harris have been in the White House, is not gloom or doom.
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FED CUTS RATES BY A HALF POINT
In its first interest rate reduction in four years, the U.S. Federal Reserve cut its policy rates by a half point last week, opting for a larger cut than the quarter-point drop that had been expected for most of this year.
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RUSSIA’S CENTRAL BANK RAISES INTEREST RATE AGAIN
For the second time in as many meetings, the Bank of Russia’s governing committee raised the bank’s key interest rate, adding a full percentage point and lifting the rate to 19 percent.
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ECB CUTS KEY INTEREST RATE BY QUARTER POINT
On 13 September, the European Central Bank (ECB) shaved a quarter point from its policy interest rate, cutting it to 3.5 percent as inflation slowed to 2.2 percent and indicators showed the Eurozone’s economy staggering.
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BANK OF CANADA CUTS INTEREST RATE A THIRD TIME
The Bank of Canada has cut its key interest rate for a third time in as many meetings, dropping it by a quarter point to 4.25 percent.
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EUROZONE INFLATION SLOWS TO 2.2 PERCENT IN AUGUST
After peaking at 10.6 percent in October 2022, inflation in the 20-country Eurozone slowed to 2.2 percent in August, moving down from 2.6 percent in July and nearly reaching the European Central Bank’s 2-percent target.
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EUROZONE FACTORY ACTIVITY CONTRACTS AS ASIA, U.K. IMPROVE
The Hamburg Commerce Bank’s purchasing managers' index (PMI) for the 20-country Eurozone’s manufacturing industry rated factory activity at 45.8 in August, well below the 50 mark that separates decline from growth.