The Bank of England kept its main interest rate unchanged at 5% Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago. The decision was widely expected amid ongoing concerns about inflation within the bank’s monetary policy committee, particularly the elevated … Read more
U.S. stocks rallied on Friday as dovish remarks from U.S. Federal Reserve Chair Jerome Powell solidified expectations that the central bank will cut its key policy rate in September. In highly anticipated comments before the Jackson Hole Economic Symposium, Powell said “the time has come” to lower the Fed funds target rate, and “the upside … Read more
Oil prices fell in early trade on Wednesday as investors digested news that the U.S. Federal Reserve has opted against cutting interest rates in the near future, while ample U.S. crude and fuel stocks further weighed on the market. Brent crude futures lost 14 cents, or 0.17%, to $82.46 a barrel at 0039 GMT, and … Read more
Oil prices were in a holding pattern in early Asian trading on Monday as markets awaited an OPEC+ meeting on June 2 where producers are expected to discuss maintaining voluntary output cuts for the rest of the year. The Brent crude July contract inched up 11 cents to $82.23 a barrel by 0036 GMT. The … Read more
Oil prices fell in early Asian trading on Monday, erasing gains from Friday as Israel-Hamas peace talks in Cairo eased fears of a wider conflict in the Middle East and U.S. inflation data further dimmed the prospects of interest rate cuts anytime soon. Brent crude futures fell by as much as $1, or 1.1% to … Read more
