The article discusses the upcoming central bank meetings of the Federal Reserve, the Bank of England, and the Bank of Japan. It mentions that the Federal Reserve is expected to keep its benchmark interest rate steady at the current range but hints at a possible rate cut in September due to signs of cooling prices.
Economy
In a recent independence day speech to Congress, President Dina Boluarte expressed optimism about Peru’s economy, despite facing accusations of corruption and abuse of power. Boluarte took office after the ousting and arrest of predecessor Pedro Castillo in late 2022, following his attempt to dissolve Congress. The economic challenges faced by Peru are significant, with
China’s industrial profits have shown a mix of growth and setbacks in recent months. While June saw a 3.6% year-on-year increase in profits, a significant improvement from the previous month’s 0.7% gain, the first half of the year only saw a 3.5% rise. This acceleration from the January-May period indicates some positive momentum, but the
Central banking may not be the most glamorous profession, but according to departing Swiss National Bank Chairman Thomas Jordan, being prepared to be labeled as boring could be the key to success. In a recent interview, Jordan defended his record at the central bank, emphasizing the importance of focusing on the job at hand and
Recently, six major banks, including Bank of America, Citigroup, Jefferies, NatWest, Nomura, and UBS, agreed to settle antitrust litigation in New York by paying $80 million. The litigation accused them of colluding to manipulate prices of European government bonds. The alleged collusion took place between 2007 and 2012, according to investors led by public pension
As investors brace themselves for a week filled with major market events, such as earnings reports from the largest tech companies, a Federal Reserve policy meeting, and crucial employment data, the near-term trajectory of U.S. stocks is hanging in the balance. The recent selloff in the stock market, which saw the S&P 500 and Nasdaq
Russia’s central bank has recently raised its key interest rate by a significant 200 basis points to 18%. This move comes as the country faces challenges related to high inflation and an overheated economy. The decision brings the cost of borrowing to its highest level in over two years, highlighting the severity of the situation
As Wall Street prepares to close a challenging week, focus remains on the Federal Reserve’s preferred gauge of inflation. The market is eagerly awaiting the release of June’s personal consumption expenditures (PCE) price index, with expectations of a 0.1% monthly increase and an annual figure of 2.5%, in close proximity to the Fed’s 2% target.
Sotheby’s, a renowned auction house, is venturing into new territory with the opening of its first retail outlet in Hong Kong. This move marks a shift from the traditional auction model, offering a diverse range of products at varying price points. Despite the economic challenges faced by China, Sotheby’s remains optimistic about the long-term spending
South Korea recently proposed a series of tax cuts in an effort to stimulate the domestic stock market and address the country’s declining birth rate, which is currently the lowest in the world. These tax cuts are part of a broader strategy known as the “Corporate Value-up Programme,” introduced earlier this year by the finance
Former New Federal Reserve President Bill Dudley has recently made a bold statement, calling for the Fed to cut rates as soon as next week. This stark reversal of his long-held view signals a significant shift in perspective regarding the current state of the U.S. economy and the role of the central bank in shaping
Delta Air Lines faced a significant challenge recently with more than 6,000 flight cancellations since Friday. However, the airline reported a significant improvement in its operations on Wednesday, with only 47 flights canceled – representing just 1% of its total flights. This positive development indicates that Delta is on track to return to normalcy after