Fed Chairman Powell pledges to raise rates to fight inflation ‘until the job is done’

Federal Reserve Chairman Jerome Powell in an appearance on Thursday stressed the importance of bringing inflation down now before the public gets too used to higher prices and comes to expect them like the standard. In his final comments outlining his commitment to fighting inflation, Powell said expectations played an important role and were key … Read more

European markets are open at the close, stocks, news, data and earnings

New UK PM Liz Truss announces cap on energy bills to tackle cost of living crisis British Prime Minister Liz Truss announcement a stimulus package to help Britons cope with soaring energy bills. Truss said the typical household ‘will pay no more than £2,500 ($2,880) a year for each of the next two years’, which … Read more

European markets are open at the close, stocks, news, data and earnings

New UK PM Liz Truss announces cap on energy bills to tackle cost of living crisis British Prime Minister Liz Truss announcement a stimulus package to help Britons cope with soaring energy bills. Truss said the typical household ‘will pay no more than £2,500 ($2,880) a year for each of the next two years’, which … Read more

Japan’s Nikkei rises 2% in mixed Asian session after Wall Street rebound

Australia’s central bank pleads for slower rate hikes Reserve Bank of Australia Governor Philip Lowe said the central bank “acknowledges” that “the case for slowing the pace of interest rate increases is growing stronger as the level of the cash rate increases”. National Australia Bank economist Tapas Stickland said Lowe’s remarks could “signal a shift … Read more

Japan’s Nikkei rises 2% in mixed Asian session after Wall Street rebound

Australia’s central bank pleads for slower rate hikes Reserve Bank of Australia Governor Philip Lowe said the central bank “acknowledges” that “the case for slowing the pace of interest rate increases is growing stronger as the level of the cash rate increases”. National Australia Bank economist Tapas Stickland said Lowe’s remarks could “signal a shift … Read more

Market braces for another three-quarter point hike from the Fed this month

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

Asia-Pacific markets are trading lower; China’s trade data in August beats expectations

Pakistan pays price for climate crisis caused by other countries: minister Pakistan is facing the worst consequences of the climate crisis, thanks in part to actions by the developed world, Finance Minister Miftah Ismail has said, as the country battles the worst floods in its history. Ismail joins a chorus of supporters from the flooded … Read more

Volkswagen and Porsche take huge risk with big bet

Nothing stops Volkswagen (VLKAF) . Not Russia’s energy war against the European Union. Moscow decided to cut off gas supplies to Europe ahead of the cold autumn and winter months due to the countries’ support for Ukraine, which Moscow invaded on February 24. This energy crisis will undoubtedly cause household electricity bills to soar, which … Read more

Mixed actions; RBA hikes interest rates

Chinese yuan won’t weaken much beyond level 7, says Capital Economics The Chinese Yuan is likely to break level 7 against the greenback based on yield spreads in the two countries, according to Julian Evans-Pritchard, senior China economist at Capital Economics. But the currency won’t weaken much beyond that, he told CNBC’s “Squawk Box Asia.” … Read more

The jobs report should be hot and that could lead to an aggressive Fed

People enter a store along a busy Manhattan shopping street on December 10, 2021 in New York City. Spencer Platt | Getty Images Job growth in August likely slowed from July’s blistering pace, but is still expected to have been quite strong, with widespread hiring across many sectors. Monthly jobs data is always important, but … Read more