Category: Cut
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Dollar hits four-month low as weak US jobs data boosts rate cut bets By Reuters
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By Karen Brittl NEW YORK (Reuters) – The U.S. dollar fell to a four-month low on Friday after a weaker-than-expected July employment report raised expectations the Federal Reserve will cut interest rates by 50 basis points in September as the economy deteriorates. Employers added 114,000 jobs, missing expectations for a…
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Morrisons tests raising freezer temperatures to cut energy costs and emissions
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Morrisons is trialling an innovative approach to saving energy and cutting costs by raising the temperature of its fridge freezers by 3 degrees Celsius. The move represents the first deviation by a UK supermarket from the industry standard, which has remained unchanged for almost a century. The Bradford-based retailer will…
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JPMorgan joins the 50 basis point cut call
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JPMorgan CEO Jamie Dimon recently reiterated his belief that inflation is still a problem, but his economic team disagrees. They have now joined Citigroup in calling for consecutive 50 basis point rate cuts in September and November to kick off a rate-cutting cycle. “We now believe that the FOMC will…
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BOE Announced “Finely Balanced Cut” of 0.25% in a 5-4 MPC Vote
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It was a close call for the Bank of England, with policymakers voting 5-4 to cut interest rates by 0.25% from 5.25% to 5.00% at their August meeting. In their monetary policy statement, Bank of England officials said that weak wage growth and slower service sector inflation were expected to…
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Asia FX firms on rate cut bets, yen at 5-mth high on hawkish BOJ By Investing.com
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Most Asian currencies rose on Thursday as the dollar fell after the Federal Reserve signaled an interest rate cut was imminent, while the Japanese yen hit a five-month high amid hawkish signals from the Bank of Japan. But the Chinese yuan lagged its peers, as did the Australian dollar in…
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Fed Kept Its Interest Rates Steady But Strongly Hinted At A September Rate Cut
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As expected, the US Federal Reserve kept its target interest rate range at a 23-year high of 5.25%-5.50% in July. The Federal Reserve Bank indicated in its statement the following: Job gains “It has been modified,” a change from the previous statement that said it “remains strong.” the Unemployment rate…
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S&P 500, Nasdaq boosted by chip rally, Fed rate cut signals By Reuters
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By Chibuike Ojoh NEW YORK (Reuters) – The Nasdaq Composite and Nasdaq Composite posted their biggest daily percentage gains since Feb. 22 and the Dow Jones Industrial Average rose on Wednesday as chip stocks surged and the Federal Reserve left interest rates unchanged while signaling possible easing in September if…
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Is the gilt market sniffing out a Bank of England rate cut this week?
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2 year uk bond yields What does this chart say? UK two-year gilt yields fell 3.3 basis points today, the sixth straight day of declines. The move comes ahead of the Bank of England’s interest rate decision on Thursday, with interest rate markets pricing in a 60% chance of a…
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Is the gilt market sniffing out a Bank of England rate cut this week?
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2 year uk bond yields What does this chart say? UK two-year gilt yields fell 3.3 basis points today, the sixth straight day of declines. The move comes ahead of the Bank of England’s interest rate decision on Thursday, with interest rate markets pricing in a 60% chance of a…
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Housing purchase tax cut approved for new immigrants
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The Knesset Finance Committee today approved an amendment to the real estate tax system regarding benefits for new immigrants who purchase real estate in Israel. The Knesset Finance Committee today approved an amendment to the real estate tax regulations regarding the benefits that new immigrants receive when purchasing real estate…
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Timiraos: Fed cut unlikely on Wednesday but officials wary of waiting too long
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The Wall Street Journal’s Fed watcher Nick Timeraos released his latest interest rate forecasts, and he didn’t include any sort of leak about a potential rate cut. Instead, Timeraos confirmed that the Fed will be preparing to cut rates in September without making a prior commitment. That’s a consensus view…
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Fed Is About to Nod at a Rate Cut as Job Growth Moderates
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Breadcrumbs Path Links PMN Business Federal Reserve officials appear poised to cut borrowing costs within months, a move that Chair Jerome Powell may signal next week as risks to the strong but moderate labor market mount. Article author: Bloomberg News Red Pickert Published on July 27, 2024 • Read for…
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State eyes Sh20bn cut in equitable revenue share for counties
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The government is targeting to deduct Sh20.12 billion from the funds allocated to counties as a fair share of revenue collected nationally in the current financial year following the rejection of the 2024 Finance Bill. The planned reduction involves a proposed amendment to the Revenue Sharing Act 2024, which will…
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Asia FX firms as dollar stalls amid rate cut bets, political uncertainty By Investing.com
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Most Asian currencies rose on Tuesday, while the dollar fell as the greenback’s recovery slowed due to continued expectations of interest rate cuts and uncertainty over the 2024 presidential election. However, sentiment towards Asia remained restrained by concerns about China, amid signs of a slowing economic recovery and uncertainty about…
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CNH is lower to open the week after the PBOC cut rates
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The People’s Bank of China cut interest rates today: The People’s Bank of China announced cutting the 7-day reverse repurchase rate to 1.70% from 1.80%. The last seven-day federal funds rate cut was in August 2023, when it also cut the seven-day federal funds rate. None of them were cut…
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First to hike, last to cut? BoE caution cossets pound: Mike Dolan By Reuters
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By Mike Dolan LONDON (Reuters) – Is it the first country to raise interest rates, the first to hit its inflation target and the last to cut rates? It may be unwise to read too much into the volatile and marginal bets on interest rates in financial markets, but for…
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USDCAD higher on the day. Retail sales weak pave the way for a BOC rate cut next week.
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The USD/CAD pair rose during the North American session following weaker-than-expected retail sales earlier today. This, coupled with weaker CPI data earlier this week, paves the way for a Bank of Canada interest rate cut next week (Wednesday). Technically, the price broke a bearish trend line, maintaining the bullish trend…
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Buildots to cut delays on construction of Intel plants
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Israeli startup BuildsIntel, which develops software to help real estate companies manage construction and monitor progress, has been hired by Intel’s construction division to improve the pace of new construction and warn of potential delays, a source familiar with the matter told Globes. The deal is estimated to be worth…
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Agenus stock cut at Baird on FDA feedback (NASDAQ:AGEN)
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George Clerc After falling nearly 60% in the previous session, Agenus shares (NASDAQ: Agen) Decreased by ~5% Shares of Baird fell Friday after the company downgraded its rating, citing FDA reactions to its colorectal cancer treatment combination BOT/BAL that led to selling. After meeting with Food and Drug Administration, Agnusan…