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Slowing Inflation Boosts Interest Rate Cut Hopes
Economic data due this week is expected to show that inflation is cooling further, thereby boosting hopes that the Federal Reserve will consider cutting interest rates in the coming months. The consumer price index (CPI) is expected to show that prices rose by 3.7%...
European Central Bank Pushes Back Interest Rate Cuts
The European Central Bank (ECB) will hold off on introducing interest rate cuts on Thursday, keeping rates at a record high. While the ECB has not implemented rate hikes since September, it remains adamant that a reversal would be premature given that price pressures...
European Stocks End Week on High as U.S. Futures Rise
Stocks in Europe ended a tumultuous week on a high on Friday, with the Stoxx Europe 600 rising by 0.3%. This is the benchmark index's second straight daily rise following a selloff resulting from flailing hopes for an incoming interest rate cut by the...
UK Inflation Rises to 4%, Dashing Hopes of an Interest Rate Cut
UK inflation rose by 4% in December, the Office for National Statistics (ONS) reported, thereby outpacing the 3.8% rise predicted by economists. Higher than the 3.9% rise in November, December's inflation surge was largely driven by a 16% annual rise in tobacco prices, followed...
China Expected to Meet Economic Growth Goals for 2023
China appears to be on course to meet its economic growth goal for 2023, Yahoo Finance claimed, with economic data due on Wednesday expected to show that gross domestic product rose by 5.2% for the year. This comes despite the nation's struggles with a...
Oil Prices Slump By Over 1% Amid Rise in Output
Oil prices slumped by over 1% on Monday after Saudi Arabia introduced sharp price cuts and output increased among OPEC+ members at large. Amid rising competition with rival producers, Saudi Arabia decided to cut the February official selling price (OSP) of its flagship Arab...