According to Paul Gambles, managing partner at MBMG Group, the Fed is slow to cut rates. Traders are pricing in a 25-basis-point cut as early as March 2024. Veteran investor David Roche predicts that the Fed is finished raising rates and inflation will remain above 2%. To prevent a recession, portfolio manager Paul Gambles believes …
LONDON — The Bank of England paused its series of interest rate hikes on Thursday after new data revealed that inflation is currently below expectations. This decision marks the end of 14 consecutive rate increases since December 2021 as the Bank sought to control inflation. In August, the main policy rate reached a 15-year high …
On August 17, 2023, a photo was taken showing US dollars and Chinese yuan in Fuyang city, East China’s Anhui province. Photo credit: Nurphoto | Nurphoto | Getty Images The People’s Bank of China surprised markets on Friday by setting the onshore yuan midpoint at 7.2006 against the U.S. dollar. This rate was more than …
In a meeting at the Kremlin in Moscow on August 9, 2023, Russian President Vladimir Putin met with the governor of the Tver region. The pool image, distributed by the Sputnik agency, captured the moment. Mikhail Klimentyev | AFP | Getty Images The Russian ruble has recently dropped below 100 to the U.S. dollar, reaching …
Japanese yen and U.S. dollar banknotes are strategically arranged for a photograph in Tokyo, Japan. The U.S. dollar has surged to a new two-decade high against its major counterparts due to the Federal Reserve’s hawkish stance on interest rates. Image source: Tomohiro Ohsumi | Bloomberg | Getty Images Stock Chart Icon Stock chart icon
Considering cryptocurrency as a form of “digital gold” may be a mistake. George Milling-Stanley, the chief gold strategist at State Street Global Advisors, which operates the world’s largest gold exchange-traded fund, believes that cryptocurrency cannot serve as a substitute for physical gold due to its susceptibility to substantial losses. In an interview with CNBC’s “ETF …
The United States is embarking on a new chapter in its economy with the Federal Reserve raising its benchmark interest rate. In July 2023, the federal funds effective rate surpassed 5%, marking a significant shift after four decades. Economists predict that as interest rates continue to rise, financial conditions will return to a more normal …
Investors may consider reducing their exposure to international markets at this time and focusing on domestic opportunities. Kim Arthur, CEO of Main Management, believes that global markets will face significant challenges due to the weakening US dollar. “The future performance of international stocks compared to US stocks is heavily influenced by the movement of the …
The People’s Bank of China has set the yuan trading mid-point at its weakest level in eight months. Currency officials in Asia are pushing back against bets that have sent their currencies to their lowest level in seven months, exacerbating their underperformance for the year. Japanese officials have been warning against the excessive depreciation of …
A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. Hollie Adams | Bloomberg | Getty Images LONDON — In a surprise move, the Bank of England (BOE) raised interest rates by 50 basis points on Thursday, marking its 13th consecutive increase as policymakers tackle persistent …