The Federal Reserve is anticipated to maintain interest rates unchanged at the culmination of a two-day policy gathering on Wednesday. However, there is also an expectation that a decline in borrowing costs could occur as early as September. Contracts related to the U.S. central bank’s policy rate demonstrate that investors are convinced a rate cut
Economy
In response to Indian Prime Minister Narendra Modi’s visit to Moscow, U.S. Deputy Secretary of State Kurt Campbell expressed his expectation that India will soon be more engaged with Ukraine. He acknowledged the importance of India playing a responsible role globally and the potential impact of their increased involvement in the conflict. While Western countries
Piper Sandler recently reviewed its election portfolios in anticipation of Kamala Harris potentially being at the top of the Democratic ticket. The brokerage concluded that there is no strong argument to change the portfolios based on this possibility. This decision was made with the belief that President Biden’s agenda aligns with the progressive wing of
As the Federal Reserve officials gear up for their upcoming meeting, the market is buzzing with anticipation over the possibility of a 25 basis point rate cut. While the decision to hold rates steady is widely expected, there is a growing consensus that the Fed may signal a potential cut at the next meeting in
Central banking often carries the reputation of being a dull and uninteresting field. However, departing Swiss National Bank Chairman Thomas Jordan argues that the key to success in this role may actually lie in being perceived as boring. Despite criticism for his handling of crises and focus on price stability, Jordan believes that staying true
China’s industrial profits showed a positive trend in June, with a 3.6% year-on-year increase, following a 0.7% gain in May. The first-half earnings also saw an uptick, rising by 3.5%, which is an acceleration from the 3.4% increase in the January-May period. These numbers reflect a relatively rapid industrial production growth, along with a significant
As the Bank of England prepares for its first interest rate cut since 2020, the decision is shrouded in uncertainty. Key policymakers have not spoken publicly for more than two months due to election rules leading up to July 4. The looming question remains: will recent higher-than-expected service prices be enough to prevent a rate
The yen has been experiencing significant volatility in the currency markets, with traders unwinding their bets against the yen ahead of crucial U.S. inflation data. This has led to the yen poised for its strongest week in nearly three months, representing a 2.3% rise for the week. The surge follows suspected interventions from Tokyo in
China’s major state-owned banks have recently made significant moves to cut deposit rates in response to the country’s struggling economy. The reduction in deposit rates comes after a surprise lowering of lending benchmarks, aimed at boosting economic growth. This decision has far-reaching implications for both the banking sector and the overall economy in China. State-Owned
The recent weakening of Chinese demand has had a significant impact on commodity currencies, causing them to touch multi-week lows. This decrease in demand has led to a ripple effect across various currencies, with the yen experiencing a surge as short-sellers scramble to bail out before an upcoming central bank meeting. The Purchasing Managers’ Index