Category: Cuts
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State pension set to rise by £400 amid criticism of winter fuel allowance cuts
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The UK government is set to increase state pensions by more than £400 a year, following criticism of Chancellor Rachel Reeves’ decision to means-test the winter fuel allowance. The Treasury calculates that the full state pension could rise in line with average earnings due to the implementation of the triple…
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Brent crude lowest since June; Citi sees $60/bbl in 2025 without deeper OPEC cuts
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SlavkoSereda/iStock via Getty Images Crude oil futures extended sharp losses from the previous session, with benchmark U.S. crude falling below $70 a barrel for the first time this year, giving up early gains after delegates’ comments that OPEC+ was thinking about delay In plans to start easing production cuts. Instead,…
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UBS cuts US dollar targets; recommends fading any strength By Investing.com
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Investing.com – UBS has cut its long-term targets for the U.S. dollar, looking to outpace the currency’s rally as early as September. At 08:45 ET (12:45 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was down 0.1% at 101.655, after rising to a…
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Bank of Canada Cuts Rates by 25bps, Signals More Easing Ahead
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The Bank of Canada today cut its overnight interest rate target by 25 basis points to 4.25%, marking the second consecutive rate cut in the monetary tightening cycle. This outcome was widely expected, as we discussed in our event guide. The Bank of Canada indicated in its statement the following:…
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Bitcoin Might Not Benefit From Federal Reserve Rate Cuts, Former BitMEX CEO Explains Why
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Arthur Hayes, co-founder and former CEO of cryptocurrency exchange BitMEX, recently took to X Explains Why he believes that the expected interest rate cuts by the US Federal Reserve may not have the expected impact on the price of Bitcoin. Lowering interest rates is not a magic solution to Bitcoin’s…
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Bullish Bitcoin News? US Federal Reserve Set To Implement Three Rate Cuts This Year
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As global economic uncertainty looms, Bitcoin (BTC) has seen increased volatility and struggles to maintain its foothold above critical resistance levels it lost over the past month. The largest cryptocurrency in the market remains in a precarious position, but emerging signs could bode well for Bitcoin’s price and the broader…
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Bullish Bitcoin News? US Federal Reserve Set To Implement Three Rate Cuts This Year
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As global economic uncertainty looms, Bitcoin (BTC) has seen increased volatility and struggles to maintain its foothold above critical resistance levels it lost over the past month. The largest cryptocurrency in the market remains in a precarious position, but emerging signs could bode well for Bitcoin’s price and the broader…
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Dollar wallows near year-low as traders seek clues on Fed cuts By Reuters
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By Brigid Riley (Reuters) – The dollar held near its lowest in more than a year against a basket of currencies on Wednesday, while sterling traded near multi-year highs, as markets focused on signs of the size of a widely expected U.S. interest rate cut next month. Cryptocurrency Bitcoin grabbed…
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UBS sees EUR/CHF slipping amid rate cuts By Investing.com
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UBS revised its forecast for the currency pair down slightly to 0.93 in the second half of 2024. The soft landing of the global economy has been good for the euro, but disappointing growth prospects in Europe have limited the pair’s advance. After recovering from a low of 0.92 in…
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US stocks tread water with Nvidia, rate cuts in focus
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Consumer confidence rose more than expected in August, although consumers’ assessment of the labor market remained weak. the Last indicator reading The U.S. manufacturing purchasing managers’ index came in at 103.3, up from 101.9 in July and above the 100.7 forecast by economists surveyed by Bloomberg. “Consumer confidence rose overall…
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Manufacturers now seek stimulus package as weak demand cuts sales
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Manufacturers are proposing a government stimulus package to revive their fortunes after sales mostly fell in an environment of weak demand for goods and high borrowing costs. A survey of corporate chief executives by the Central Bank of Kenya showed that 69.2% of manufacturing firms reported a decline in sales…
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Will rate cuts make Asian small caps more attractive? Bernstein weighs in By Investing.com
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The prospect of lower interest rates in the coming months is a favorable environment for small-cap stocks in Asia, although some risks to that trend remain, Bernstein wrote in a note. Japan and some economies in the Association of Southeast Asian Nations (ASEAN) region have shown positive growth trends, reflecting…
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Fed Cuts May Send $1 Trillion FX ‘Avalanche’ to China, Jen Says
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(Bloomberg) — Chinese companies may be tempted to sell a $1 trillion pile of dollar-denominated assets as the U.S. cuts interest rates, a move that could boost the yuan by as much as 10%, according to Stephen Jin. Most Read from Bloomberg The currency is now the biggest risk that…
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US stock futures edge lower with Nvidia earnings, rate cuts in focus By Investing.com
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U.S. stock index futures were lower in overnight trading on Sunday, slowing after a rally on Wall Street as comments from Federal Reserve officials bolstered expectations for an interest rate cut in September. But caution is setting in ahead of a series of key signals this week, most notably earnings…
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US stock futures edge lower with Nvidia earnings, rate cuts in focus By Investing.com
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U.S. stock index futures were lower in overnight trading on Sunday, slowing after a rally on Wall Street as comments from Federal Reserve officials bolstered expectations for an interest rate cut in September. But caution is setting in ahead of a series of key signals this week, most notably earnings…
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Powell’s Path: Rate cuts and economic outlook after Jackson Hole Summit
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The Jackson Hole Summit concluded, highlighting Fed Chair Powell’s speech on Friday, in which he explicitly laid out the path for a September rate cut. The cut would be the first policy change since July 2023, when the Fed raised rates by 25 basis points to a high target of…
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Fed’s Preferred Price Gauge to Reinforce Rate Cuts: Eco Week
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Breadcrumbs Path Links PMN Business Next week’s U.S. inflation figures will reinforce the fact that long-awaited interest rate cuts are coming soon, while a reading on consumer spending suggests the central bank has managed to keep the expansion intact. Article author: Bloomberg News Vince Juul and Andrew Langley Published on…
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Dollar to remain elevated in spite of rate cuts By Investing.com
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Despite expectations of a significant rate cut by the Federal Reserve in 2024 and 2025, analysts at Wells Fargo Investment Institute expect the US dollar to remain high. Analysts cited the reasons behind the forecast in a note dated Monday, focusing on interest rate differentials, global economic conditions, and the…
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S&P 500 gains 1.4% in weekly rise, with fuel from the Fed greenlighting rate cuts
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The Standard & Poor’s 500 Index (SP500) rose 1.44% on Friday for the week to close at 5,634.61 points, gaining in three of the last five sessions. The accompanying SPDR S&P 500 ETF Trust (New York: Spy) rose by 1.41% during the week. Wall Street Reference index (sb 500The index…
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Asia FX weakens as dollar recovers from 3 days of losses; rate cuts in focus By Investing.com
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Most Asian currencies fell on Thursday as the dollar rose from seven-month lows amid some cheap buying, although traders remained largely biased against the greenback amid expectations of interest rate cuts. The Japanese yen retreated after posting strong gains this week, although sentiment towards Japan was supported by positive PMI…