Bank of England holds rates but says 'moving in the right direction' for cuts
LONDON — The Bank of England on Thursday held interest rates steady at 5.25%, but hinted at cuts on the horizon as inflation falls faster than expected.
Economy asian news
Top U.S. asset manager Vanguard doesn’t believe the Fed will cut interest rates this year
Vanguard doesn't expect the Federal Reserve to cut interest rates this year, defying the view from Fed officials that the central bank remains on track to reduce rates three times in 2024.
IMF says the economic situation in debt-stricken Sri Lanka is gradually improving
COLOMBO, Sri Lanka (AP) — The economic situation in debt-stricken Sri Lanka has started to gradually improve following its worst economic crisis two years ago, the International Monetary Fund said Thursday.
Wary of inflation, Taiwan central bank raises key rate in surprise move
Taiwan's central bank surprised markets by raising its policy rate on Thursday, wary of continued inflationary pressures and ahead of an expected rise in electricity prices next month.
New Zealand slips into its second recession in 18 months as economy contracts
WELLINGTON, New Zealand (AP) — New Zealand has entered its second recession in 18 months after the latest round of GDP figures confirmed its economy contracted in the last quarter of 2023.
Fed sees three 2024 rate cuts as Powell backs go-slow approach
WASHINGTON (Reuters) -- Federal Reserve Chair Jerome Powell said on Wednesday recent high inflation readings had not changed the underlying "story" of slowly easing price pressures in the U.S., but added that recent data also had not bolstered the central bank's confidence that the inflation battle has been won.
Fed still sees three rate cuts in 2024 despite sticky inflation
WASHINGTON -- The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the U.S. central bank's 2% inflation target.
Prabowo officially elected as Indonesia's next president, calls for unity
JAKARTA -- Defense Minister Prabowo Subianto has been officially elected as Indonesia's next president and is set to succeed Joko "Jokowi" Widodo at the helm of Southeast Asia's largest economy in October.