The ECB announced a second consecutive increase in interest rates to combat galloping inflation. Daniel Roland | AFP | Getty Images The European Central Bank on Thursday announced a 75 basis point hike in interest rates, taking its benchmark deposit rate to 0.75%. “This major step precipitates the transition from the current very accommodative level … Read more
Federal Reserve Board Chairman Jerome Powell speaks during a press conference in Washington, DC on July 27, 2022. Mandel Ngan | AFP | Getty Images Traders now see near certainty that the Federal Reserve will enact its third straight 0.75 percentage point interest rate hike at its meeting later this month. The probability of a … Read more
Turkish President Tayyip Erdogan arrives for a NATO summit in Madrid, Spain, June 29, 2022. Sweet Nachos | Reuters Turkey’s central bank shocked markets on Thursday with a cut in its benchmark key rate, despite inflation in the country nearing 80%. The country’s currency, the readdecreased by 0.9% compared to the dollartrading at over 18.1 … Read more
Liz Truss and Rushi Sunak during The Sun’s Showdown: The Fight for No10, the final one-on-one debate for the Conservative Party leadership candidates. The next Prime Minister will be forced to face a historic cost of living crisis as food and energy prices soar and real income declines. Dominique Lipinski | Pa pictures | Getty … Read more
