Underlying US inflation eased for a fourth month on an annual basis in July, keeping the Federal Reserve on track to lower interest rates next month.The so-called core consumer price index — which excludes food and energy costs — increased 3.2% in July from a year ago, still the slowest pace since early 2021. The … Read more
The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the U.S. central bank’s 2% inflation target. The Fed’s new policy statement described inflation as remaining “elevated,” and updated quarterly economic … Read more
The dollar was steady on Friday after data showed U.S. inflation remained sticky but easing gradually, keeping alive the chance of the Federal Reserve cutting rates in June, while the yen slid back to the key 150 per dollar level. Bitcoin’s blistering rally took a breather and was last at $61,622, near a more than … Read more
“Overall, the big trigger will be the Fed rate cut which should happen by March, April and we will have to see the magnitude of that so the big defining trend for this year will be rate cuts across the world,” says Ajay Bagga, Chairman, Elyments Platforms 2024 is indeed going to be a crucial … Read more
Gold prices extended gains to a one-week high on Thursday after the US Federal Reserve flagged an end to its tightening cycle and signalled lower borrowing costs in 2024, sending the dollar and Treasury yields tumbling. Spot gold was up 0.2 per cent at USD 2,031.28 per ounce, as of 0130 GMT, after rising 2.4 … Read more
Bitcoin climbed back above $38,000 on Tuesday amid optimism the US central bank may be closer to lowering borrowing costs if inflation continues to decline. The largest cryptocurrency by market value gained as much as 3.3% to $38,264 before trimming the increase. Bitcoin reached an 18-month high of $38,422 on Friday. Lower rates generally increase … Read more
Morgan Stanley economists forecast the Federal Reserve to make deep interest-rate cuts over the next two years as inflation cools, while Goldman Sachs Group Inc. analysts expect fewer reductions and a later start. The central bank will start cutting rates in June 2024, then again in September and every meeting from the fourth quarter onward, … Read more