“It would be beyond negligent for the Federal Reserve not to announce an emergency interest rate cut in response to the global rout in stock markets,” deVere Group CEO says
interest rates
interest rates
US Fed holds interest rates steady, nods to possible September cut
The decision was broadly in line with Wall Street estimates and market analysts
CBUAE
UAE Central Bank holds benchmark interest rate steady at 5.40%
CBUAE’s move follows the US Federal Reserve’s announcement to maintain the Interest Rate on Reserve Balances (IORB)
inflation
US economy delivers better-than-expected 2.8% GDP growth in Q2
A US government report also said inflation pressures subsided, leaving intact expectations of a September interest rate cut from the Federal Reserve
China
China’s central bank announces major rate cuts, doubles EV subsidy
Lending rate for one-year medium term policy loans was cut by 20 basis points to 2.3%, the biggest rate cut since the world’s second-largest economy was slammed by the Covid-19 pandemic in 2020