Category: Cuts
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Fed Held Rates As Expected, Trimmed Potential Cuts from Three Down to One this Year
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The Federal Open Market Committee (FOMC) maintained the target range for the federal funds rate at 5.25-5.50% as expected in its last announcement. Their official statement acknowledged this “There has been modest additional progress towards the committee’s 2% inflation target.” In recent months, which has been more optimistic compared to…
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Gold Fields cuts production guidance after severe winter weather in Chile (NYSE:GFI)
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Moussa81/iStock via Getty Images gold fields (New York Stock Exchange: GFI) -8.4% Pre-market Thursday after Cut production guidance for the full year Due to worse than expected winter weather in Chile, limiting the intensification of the new Salares Norte project. Gold Fields (GFI) said it now expects production This year…
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Moody’s Drops Bombshell On Crypto Industry Amid High Interest Rate Cuts
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Moody’s Analytics Chief Economist Mark Zandi gave his opinion on a possible interest rate cut ahead of the meeting US Federal Reserve decision. The cryptocurrency community is closely monitoring this event, given how it will impact the cryptocurrency market. The US Federal Reserve should lower interest rates Zandi mentioned during…
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ECB’s Holzmann says further rate cuts by the Bank could slam EUR and spike inflation
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Robert Holzmann is the Governor of the Austrian Central Bank and a member of the Governing Council of the European Central Bank, described by many critics as the A1 hawk at the table. Holzmann spoke in a radio interview on Saturday with public broadcaster ORF (Österreichischer Rundfunk, “Austrian Radio”). He…
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BOC Cut Its Rates to 4.75% in June and Hinted at Future Rate Cuts
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As expected, the Bank of Canada (BOC) cut interest rates by 25 basis points to 4.75% in June and became the first G7 bank to cut interest rates in four years. In the official statement, the Bank of Canada explained that preferred measures of core inflation have slowed and that…
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Treasury sees NIS 55b in cuts needed for 2025
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The Israeli Ministry of Finance expects the fiscal deficit to decrease by 5.2% in 2025 to 4.4% in 2026 and 3.7% in 2027. Today, the Israeli Ministry of Finance published the latest figures for its three-year budget plan 2025-2027. According to the data, which plots the government’s current spending commitments…
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Treasury sees NIS 55b in cuts needed for 2025
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The Israeli Ministry of Finance expects the fiscal deficit to decrease by 5.2% in 2025 to 4.4% in 2026 and 3.7% in 2027. Today, the Israeli Ministry of Finance published the latest figures for its three-year budget plan 2025-2027. According to the data, which plots the government’s current spending commitments…
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UBS lowers EUR/CHF target to 0.96 amid expected ECB rate cuts By Investing.com
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UBS has revised its forecasts for the currency pair, indicating a bearish outlook in the short term. The financial services company revised its March 2022 target for the euro to Swiss franc exchange rate to 0.96, down from the previous 0.97. In addition, UBS presented a new forecast for June…
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UBS sees Swiss franc on backfoot, predicts Fed rate cuts By Investing.com
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UBS has released a report analyzing the impact of the unexpected interest rate cut by the Swiss National Bank (SNB) in March on currency markets. The SNB’s early action, before other major central banks, sparked a wave of carry trades, leading to a significant weakness in the value of the…
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UBS sees potential for Swedish krona volatility amid rate cuts By Investing.com
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UBS provided an analysis of the Swedish krona’s performance, suggesting a weakening position against the euro since May, with the pair returning to levels seen the previous year, despite the Riksbank’s efforts to support the currency last September. The bank expects the EUR/SEK pair to rise in the near term…
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JPMorgan recommends defensive, commodity stocks ahead of rate cuts By Investing.com
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Strategists at JP Morgan believe investors should consider a shift toward defensive stocks and commodity stocks in anticipation of upcoming interest rate cuts by central banks. Historically, defenses have suffered when bond yields have been rising, but that phase may be ending, the Wall Street giant notes. Now, during the…
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Rising Benefits and Tax Cuts Push UK Borrowing to Three-Year High
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UK government borrowing rose to £20.5 billion in April, its highest level in three years. This increase was driven by a growing benefits bill and a decline in tax revenues following reductions in National Insurance contributions. Official figures from the Office for National Statistics (ONS) revealed that borrowing exceeded both…
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UK Government Plans Training ‘Bootcamps’ to Address Worker Shortages Amid Immigration Cuts
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The UK government is set to introduce skills “boot camps” to train unemployed individuals for jobs in sectors such as hospitality, social care and logistics. The initiative, announced by Mel Stride, Secretary for Work and Pensions, aims to address the potential shortage of workers resulting from the crackdown on migrant…
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Tesla to Make Job Cuts Through June, Leaving Workers in Limbo
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Breadcrumb links BMN Business One worker likened the company’s situation to “Squid Game,” the TV series in which contestants fight for survival. Article writer: Bloomberg News Kara Carlson and Dana Hall Posted on May 20, 2024 • 4 minutes read You can save this article by registering for free here.…
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Jeremy Hunt Promises Further Tax Cuts and Criticises Labour’s Plans
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Chancellor of the Exchequer Jeremy Hunt has pledged further tax cuts in the autumn, stressing that the UK economy has “turned a corner”. In an attempt to clarify the differences before the next election, Hunt accused Labor of planning to raise taxes while portraying the Conservatives as committed to cutting…
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Anti-tax group advising Trump on second-term tax cuts
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An anti-tax advocacy group with ties to billionaire Jeff Yass and shipping magnate Richard Uehlin is vying for a new round of corporate tax cuts if Donald Trump wins a second term in the White House. The Club for Growth Foundation, whose members have sparred with Trump’s advisers over economic…
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Asia FX rises as CPI data dents dollar, puts rate cuts in focus By Investing.com
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Investing.com — Most Asian currencies rose on Thursday after some weak U.S. consumer inflation readings pushed the dollar to a one-month low and saw traders increase their bets on a September interest rate cut. But gains in some regional units were held back by a combination of weak economic data…
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Bitcoin Won’t Pump Again Until The Fed Cuts Rates, Says Mike Novogratz
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Mike Novogratz, CEO of Galaxy Digital, believes that Bitcoin’s price action will continue for a long period of sleep until the market “narrative” can rear its head. This narrative could come in one of two forms: either the central bank cuts interest rates, or regulators clear the air on cryptocurrencies.…
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BOE Held Rates at 5.25% in 7-2 MPC Vote, Bailey Hints at “More Substantial” Future Cuts
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As expected, the Bank of England (BOE) kept interest rates steady at 5.25% in its May decision. The official statement indicated that: Underlying inflationary pressures in the euro area have continued to moderate somewhat since the beginning of the year UK demand growth is expected to remain weaker than potential…