President of the European Central Bank (ECB) Christine Lagarde arrives to address a press conference following the meeting of the governing council of the ECB in Frankfurt am Main, western Germany, on April 11, 2024. Kirill Kudryavtsev | Afp | Getty Images FRANKFURT — The European Central Bank this week is set to cut borrowing … Read more
City scene Yeni Camii great mosque by Golden Horn of Bosphorus River, Topkapi Palace, Hagia Sophia Istanbul, Republic of Turkey Tim Graham | Getty Images Inflation in Turkey topped 75% in May in what economists expect to be the peak before prices start to ease. Consumer prices rose 75.45% in May on an annual basis … Read more
General view of the center of Corfu with a little restaurant in Old Town in Corfu, Greece, in May 2024. Sopa Images | Lightrocket | Getty Images Inflation in the euro zone rose to 2.6% in May, statistics agency Eurostat said Friday, but a higher-than-expected print did not sway market bets of an interest rate … Read more
Klaas Knot, president of De Nederlandsche Bank NV, on the sidelines of the Group of 20 (G-20) finance ministers and central bank governors meeting in Gandhinagar, India, on Tuesday, July 18, 2023. Bloomberg | Bloomberg | Getty Images LONDON — European Central Bank Governing Council member Klaas Knot said it would “soon” be time to … Read more
LONDON — The Federal Reserve should wait for significant progress on inflation before cutting interest rates, Minneapolis Federal Reserve President Neel Kashkari told CNBC Tuesday. Asked what conditions were needed for the Fed to cut rates once or twice this year, Kashkari said: “Many more months of positive inflation data, I think, to give me confidence … Read more
Two key European Central Bank figures on Monday threw their weight behind the prospect of an interest rate cut next week, indicating that it is practically a done deal. In a speech on Monday, Olli Rehn, ECB governing council member and head of Finland’s central bank, stressed that inflation in the euro area was falling … Read more
Golden Horn and Bosphorus at sunset, Istanbul, Turkey Matteo Colombo | Digitalvision | Getty Images Investors who ran from Turkey in droves over the last several years may want to start heading back, the latest report from Citi on the country’s nascent signals. After more than half a decade of dramatically depreciating currency, burning through … Read more
JPMorgan Chase‘s chairman and CEO Jamie Dimon says the U.S. economy could see a “hard landing.” When asked by CNBC’s Sri Jegarajah about the prospect of a hard landing, Dimon replied: “Could we actually see one? Of course, how could anyone who reads history say there’s no chance?” The CEO was speaking at the JPMorgan … Read more
U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., May 1, 2024. Kevin Lamarque | Reuters Federal Reserve officials grew more concerned at their most recent meeting about inflation, with members indicating that they lacked the confidence … Read more
The Marriner S. Eccles Federal Reserve building during a renovation in Washington, DC, US, on Tuesday, Oct. 24, 2023. Valerie Plesch | Bloomberg | Getty Images Federal Reserve officials appear to have “no idea” what is happening when it comes to the inflation picture in the U.S., according to Julian Howard, lead investment director of … Read more
