U.S. consumer spending grew 0.4 percent in September, more than the 0.3 percent expected by Dow Jones and much stronger than August’s estimated 0.1-percent gain.
Tag: inflation
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RETAILERS CUT PRICES TO WIN BACK CUSTOMERS
After years of hiking prices to keep up with inflation, retailers are now cutting prices to hold onto shoppers who have less to spend and are looking for bargains.
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SWEDEN’S CENTRAL BANK CUTS RATE AGAIN
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.
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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.