The Federal Reserve opted to keep its benchmark interest rate at a range of 3.5% to 3.75%, according to the central bank’s announcement on Wednesday. While markets largely expected the Federal Open Market Committee to stay on hold, recent comments from several officials indicate a sizable constituency within the central bank considered raising borrowing costs … Read more
Bundesbank President Joachim Nagel has warned that inflation remains at risk of staying above the European Central Bank’s target, despite the U.S. and Iran agreeing to end their war in the Middle East. According to Nagel, the energy price shocks triggered by the war are still embedded in the system, necessitating a cautious approach to … Read more
The Japanese yen rose on Monday following comments from Bank of Japan Governor Kazuo Ueda suggesting the possibility of near-term interest rate hikes. Despite the central bank raising rates to a three-decade high and the government deploying 11.7 trillion yen ($72.8 billion) in foreign reserves to support the currency, the yen remains near the 160 … Read more