Saudi Arabia slashes growth forecasts, sees wider budget deficits
Saudi Arabia's real GDP is expected to grow 0.8% this year, a dramatic drop from a previous estimate of 4.4%, according to the latest government...
Powell indicates further, smaller rate cuts, insists the Fed is ‘not on any preset course’
The central bank chief asserted that he will seek to balance fighting inflation with supporting the labor market.
Key Fed inflation gauge at 2.2% in August, lower than expected
The personal consumption expenditures price index was expected to increase 0.1% in August and 2.3% from a year ago.
Swiss central bank cuts rates by a quarter point in third trim this year
It was the first major Western central bank to reduce interest rates back in March.
September consumer confidence falls the most in three years
The Conference Board's Consumer Confidence Index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021.
Britain’s finance minister calls for spending discipline but no return to austerity
U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, saying her budget proposals will look to rebuild the country.
The Fed has set out on a ‘recalibration’ of policy. Here’s what Powell’s new buzzword means
Asset prices soared as investors took Powell at his word that the outsized rate cut wasn't in response to a substantial economic weakening.
Bank of England holds interest rates, British pound rallies to more than two-year high
The decision to hold comes after the U.S. Federal Reserve kicked off its own monetary easing with an aggressive 50 basis point rate cut.
Ray Dalio says the Fed faces a tough balancing act as the economy faces ‘enormous amount of debt’
On Wednesday, Dalio listed debt, money and the economic cycle as one of the top five forces influencing the global economy.