Recently, the U.S. dollar has been holding near its lowest point in over a year against a basket of currencies, with sterling also trading near multi-year highs. The focus of the market has shifted towards predicting the extent of the upcoming U.S. interest rate cut. Traders are closely watching for any clues that could shed
Economy
Recent statements by Federal Reserve officials have suggested that a rate cut in September is highly probable. However, the exact extent of the reduction remains uncertain and will depend on various economic data points, according to Deutsche Bank economists. They anticipate that the size of the rate cut at the upcoming September meeting will be
The impact of Federal Reserve holdings on the economy’s momentum has been a topic of ongoing interest and concern. A recent paper presented at a central bank research conference shed light on the pivotal role played by the Fed’s holdings of mortgage bonds in shaping monetary policy. The paper highlighted the significance of quantitative easing
The recent dovish shift in the U.S. Federal Reserve’s policy has provided some relief for the Bank of Japan in its efforts to manage the strength of the yen. However, this shift could also present challenges for the BOJ, particularly in its plans to raise interest rates. With the divergence in policy paths between the
In a recent development, the Canada Industrial Relations Board ordered a halt to work stoppages at the country’s largest railways, Canadian National Railway (CNR) and Canadian Pacific (CPKC) Kansas City. This decision signifies an end to a disruptive service disruption that was threatening to have a significant impact on Canada’s export-driven economy. The ruling came
NASA officials announced that two astronauts who flew to the International Space Station in Boeing’s Starliner capsule will have to return to Earth on a SpaceX vehicle due to issues with the Starliner’s propulsion system. This decision was made after the propulsion system suffered glitches during the flight to the ISS, forcing the astronauts to
The future of Turkish banks seems to be uncertain and challenging according to Hakan Aran, the chief executive of Isbank, Turkey’s largest private bank. Aran predicts that challenges will continue throughout 2025 due to the economic turnaround in the country. These challenges are expected to impact various aspects of the banking sector, including net interest
The recent arrest of Pavel Durov, the CEO of Telegram, at the Bourget airport outside Paris has sparked widespread discussion and controversy surrounding the popular messaging app. Durov, a billionaire founder of Telegram, was targeted by an arrest warrant in France as part of a preliminary police investigation. Reports suggest that the investigation was centered
The arrest of Pavel Durov, the billionaire founder and CEO of the popular messaging app Telegram, at the Bourget airport outside Paris has caused shockwaves in the tech world. Durov, a Russian-born entrepreneur, is no stranger to controversy. He is the mastermind behind Telegram, a messaging platform that competes with giants like Facebook’s WhatsApp, Instagram,
Prime Minister Keir Starmer is set to address the nation and prepare them for the difficulties ahead. He acknowledges that fixing the numerous problems facing Britain will not be an easy task and that “things will get worse before we get better.” This speech is seen as an opportunity for Starmer to be honest and
Brazil’s central bank chief, Roberto Campos Neto, recently addressed the issue of market volatility and its potential implications. He noted that the current volatility may indicate that the market is adjusting to the possibility of limited fiscal and monetary intervention in the future. This observation suggests a shift in investor sentiment and expectations regarding policy
Wall Street’s stock indexes saw a significant surge on Friday, with the S&P 500 index edging closer to a record high. Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole economic conference played a pivotal role in this rally. Powell’s indication towards an imminent interest rate reduction due to risks in the job market