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.
Tag: inflation
Post
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.
Post
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.
Post
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.
Post
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.
Post
HOUSING AFFORDABILITY TOP CONCERN
In a new Gallup survey, half the respondents in the world’s wealthiest countries—including 60 percent of U.S. residents—cited the lack of affordable housing as their chief worry, edging out education, healthcare, and other urgencies.
Post
FED OFFICIALS MULL HALF-POINT RATE CUT
Now that markets have priced in a 100-percent certainty that the U.S. Federal Reserve will cut its policy interest rates next week, speculators are wondering how large the cut will be.
Post
SWEDEN’S CENTRAL BANK CUTS RATES, SAYS MORE COMING
On 20 August, Sweden’s Riksbank took a quarter point off its policy interest rate, reducing it to 3.5 percent. The bank could make as many as three more cuts still this year in an attempt to revive the country’s feeble economy, bank officials said.
Post
POWELL: THE TIME HAS COME
U.S. Federal Reserve chair Jerome Powell virtually guaranteed the central bank will cut its key interest rates when it meets in mid-September.
Post
U.K. ECONOMY GROWS MORE THAN EXPECTED IN YEAR’S FIRST HALF
Britain’s GDP expanded by 0.6 percent during April, May, and June, nearly matching the first quarter’s 0.7-percent expansion and surprising analysts who had expected a more modest rise.