The tightening measures are showing effect, with the Fed's preferred inflation gauge, the personal consumption expenditures (PCE) price index rising 5.0 percent last month from a year ago, down from 5.5 percent in November, Commerce Department data showed on Friday. This extends a downward trend since mid-2022, when American households...

Stock markets rose as US data showed the country grew at a slower pace in 2022 but finished the year on a stronger note. Shares in Paris, Frankfurt and London were higher in mid-afternoon trading. US gross domestic product rose at an annual rate of 2.9 percent in the fourth...

Household spending and business investment remained positive in the final quarter last year though they slowed, while inventories and net exports helped growth, said Rubeela Farooqi of High Frequency Economics.

While the official exchange rate has been fixed at 1,470 Iraqi dinars against the dollar, the currency was trading at up to 1,600 to the greenback on local markets from mid-November, before settling at about 1,570 dinars, according to state media.

Consumer inflation in the United States slipped in December to the lowest level in over a year, government data showed, signaling the worst of red-hot price increases may be over. Inflation has eased for a sixth consecutive month alongside the Federal Reserve's aggressive campaign, fueling hope for reprieve from steeply...

Major stock markets mostly dropped as warnings that US interest rates would continue to rise and remain elevated offset growing optimism over China's economic reopening after Covid lockdowns. Equities enjoyed a strong start to the new year thanks largely to Beijing's decision to throw off the shackles of its strict...

Stock markets mostly advanced as traders awaited key US jobs data and after news of falling inflation in the eurozone. Global equities have enjoyed a largely solid start to the new year, though Wall Street slid on expectations that the Federal Reserve is in no rush to stop hiking US...

The joint statement comes after the sudden collapse of cryptocurrency platform FTX - worth $32 billion before it filed for bankruptcy in November - which sent chills across the sector. FTX's disgraced founder Sam Bankman-Fried has since been accused of committing one of the biggest financial frauds in US history,...

Economists expect Germany and another major eurozone economy, Italy, to fall into recession. Britain's economy is already shrinking. Rating agency S&P Global foresees stagnation for the eurozone in 2023. But the International Monetary Fund still expects the world economy to expand in 2023, with growth of 2.7 percent. The OECD...

A key indicator of US inflation edged down from a year ago in November, according to government data, in welcome news to households grappling with soaring costs while spending slowed. This extends a downward inflation trend in recent months, though it is unlikely to bring quick relief from an aggressive...

With dust settling after the Bank of Japan's surprise shift from ultra-loose monetary policy, investors embarked on a mini Santa rally ahead of the Christmas break, while the yen stabilised following its biggest jump in 24 years.

Global stocks sank as central banks hiked interest rates again and signaled they needed to go higher to tame inflation. Meanwhile, downbeat economic data out of China and the United States fanned recession fears. Both the Bank of England and the European Central Bank mirrored the Fed's half-point hike on...

Industrial production in the US slumped in November with "broad based" decreases, the Federal Reserve said, as output for bigger-ticket consumer products and manufacturing fell. While tangled supply chains and surging costs which weighed on businesses are easing, in a boost to production, firms are now contending with weakening demand...

Dubai, UAE--– The central banks of Saudi Arabia, Bahrain, and Qatar increased their interest rates following the US Federal Reserve Board’s announcement today to raise the Interest on Reserve Balances (IORB) by 50 basis points.The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank...

As part of its monetary policy tightening, the ECB will on Thursday outline the next steps in its efforts to slim down the bank's massive balance sheet. It has already made changes to the terms of an ultra-cheap bank loan scheme, aimed at keeping credit flowing during the pandemic, in...

But the half-point jump analysts expect to see in the Fed's benchmark lending rate will still be a steep rise, as it struggles to cool demand in the United States to bring consumer costs down. Households in the world's biggest economy have been contending with red-hot prices.

Global stocks rose on China's slowing inflation and economic reopening, alongside hopes of less aggressive interest rate hikes next week. Sentiment brightened on China's decision to shift away from its nearly three-year zero-Covid strategy of lockdowns and mass testing that slammed the economy. After protests across the country, leaders have...

Economists expect Germany and another major eurozone economy, Italy, to fall into recession. Britain's economy is already shrinking. Rating agency S&P Global foresees stagnation for the eurozone in 2023. The coronavirus pandemic, meanwhile, remains a wildcard for the global economy.

Global stocks rose as Federal Reserve boss Jerome Powell flagged a moderation in interest rate hikes, while China signaled a softer approach to fighting Covid. Asian and European equities tacked higher as investors eyed news that eurozone unemployment fell to a record 6.5 percent in October. Oil prices climbed before...

Washington, United States—US economic activity eased in recent weeks, while uncertainty and "increased pessimism" clouded the country's outlook amid high prices and rising interest rates, a report published by the Federal Reserve said Wednesday. The Fed's latest "beige book" survey of economic conditions comes as the US central bank pushes on...

Stocks have risen over the last month, in part on expectations that the Fed would soon pivot on monetary policy. Powell's appearance had been viewed as a potential risk to equities if he had adopted a more hawkish tone. Major indices had been near flat prior to the Powell event,...

It is logical for the FRB to halt the wave of escalation of interest rates on the dollar, which was projected to witness a final round next December at a rate of 0.25 percent, due to the approaching winter season and the intensification of the cold wave in western Europea,...

Wednesday's much-anticipated minutes showed most US central bank chiefs felt smaller increases would "likely soon be appropriate" as the economy shows signs of weakness following almost a year of monetary tightening.

Global main stock markets rallied as investors fished for bargain shares and shrugged off losses elsewhere, but oil prices fell as concerns over the global economy persist. London stocks were lifted by official data showing UK retail sales rose 0.6 percent in October, rebounding from a 1.5-percent slump in September....

Most of the GCC states have raised their key interest rates in the wake of the Federal Reserve's decision to raise its key policy rate by three-quarters of a percentage point. The two largest economies of the region, the UAE and Saudi Arabia, both raised rates by 75 basis points.

Global stock markets rose as traders looked to the US Federal Reserve's interest rate decision hoping it will signal a more dovish approach to fighting inflation. The Fed is widely expected Wednesday to announce a fourth straight 75-basis-point rate hike leading to worries it will tip the world's top economy...

Most markets rose on hopes the Federal Reserve would soon slow its pace of interest rate hikes, though the mood was darkened over China after President Xi Jinping tightened his grip on power. The yen weakened against the dollar after a short rally after speculation Japanese authorities had stepped into...

The British pound sank against the dollar on political uncertainty after the resignation of UK Prime Minister Liz Truss, while weak economic data added to the turmoil. The dollar strengthened also on expectations that the US Federal Reserve would press ahead with its program of bumper interest rate hikes to...

The bank's revenues declined 12 percent to $12 billion.

Stock markets and oil prices slumped as investors grow fearful that more big interest rate hikes will tip economies into deep recessions. The mood darkened also on the worsening Ukraine war and weaker demand expectations in China. Analysts said US consumer price index data released later this week will be...

Ex-Fed chief Ben Bernanke together with Douglas Diamond and Philip Dybvig were honoured for having "significantly improved our understanding of the role of banks in the economy, particularly during financial crises, as well as how to regulate financial markets".

A brief rally across trading floors last week gave way to gloom as investors grow increasingly worried that central bank efforts to tame runaway prices will plunge the global economy into recession. Adding to the stress is the upcoming corporate earnings season, which many fear will show that companies are...

President Joe Biden, who has seen his approval erode in the face of surging prices, cheered the data as a sign of "historic progress" in the economy, even while he said there is more work to do to help American families. But the central bank likely will want to see...

Stocks mostly slid and the dollar surged after US jobs data showed only a timid slowdown in the labor market, setting the stage for further interest rate hikes. Equity markets have taken a battering as the US Federal Reserve has made it clear it intends to continue raising interest rates...

As US annual inflation has soared to the fastest in 40 years, the Fed has moved aggressively this year to tamp down demand, raising the interest rates five times, for a total of three percentage points. "Inflation remains stubbornly and unacceptably high, and data over the past few months show...

US equities posted gains for a second straight session amid hopes of a US monetary policy pivot, after a bruising September ended another losing quarter for Wall Street. Twitter surged on the revived chance of Elon Musk's takeover as the tech-rich Nasdaq Composite Index climbed 2.8 percent.

Asian and European stocks rallied and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans. Frankfurt and Paris equities soared over three percent in value after similar stellar gains in Tokyo, while London won two percent. Central banks across the world...

Continuing with its slide against the dollar, the pound hit a record low on fears about the UK economy after the government presented a huge tax-cutting budget. Countries around the world are battling high inflation and seeking to curb it with interest rate hikes. But analysts fear such moves can...

Falling for the fourth straight session, Wall Street stocks finished lower on Friday as markets bet on the rising risk of a recession due to interest rate hikes. All three major indices tanked more than 1.5 percent, adding to the week's losses after Wednesday's big Fed rate increase spurred similar...

European markets were down in afternoon trades, with London's FTSE 100 shedding 0.5 percent after the Bank of England raised its rate again to combat inflation and signaled that the UK entered recession in the current quarter.

Taking a cue from Federal Reserve, GCC central banks have raised interest rates, tracking a hike in the US Fed's benchmark rate. The US central bank announced its third consecutive interest rate increase of 0.75 percentage point, continuing the forceful action to tamp down inflation that has surged to the...

Equities around the world have been clattered by fears of a recession in major economies as central banks ramp up borrowing costs to combat the highest inflation in decades, which has been compounded by the Ukraine war and supply chain snarls.

With recent data showing US inflation rooted at four-decade highs, investors are increasingly pessimistic about the outlook for the global economy. Some observers have warned of a sharp recession in many countries caused by the huge rate increases, which are hitting families in the pocket.

Despite the recent slowdown, the US economy remains robust, which allows for more aggressive monetary policy tightening. The US consumer is particularly healthy, with households presenting a strong balance sheet with high levels of cash available (US$15.8 trillion), the report adds.

Stock markets and oil prices rallied Friday, with investors largely pricing in more interest rate hikes aimed at taming runaway inflation. The dollar slid one percent versus the pound and euro after recent hefty gains. London's stock market jumped more than 1.5 percent in morning deals, mirroring advances in Paris...

European Central Bank policymakers look set to hike interest rates again to tame runaway inflation amid a steep increase in the price of energy. The high inflation has sent the pace of consumer price rises to new high, with Eurozone inflation hitting 9.1 percent in August.

According to consensus, the unemployment rate for August should fall somewhere around 3.5 percent when official data is released at 1230 GMT. If the estimate turns out to be true, it would be the same rate as July when unemployment first returned to its pre-pandemic levels, which had been the...

Inflation-fighting measures, such as hiking rates and removing stimulus, was the main driver behind the recent correction in commodities that are likely to weather headwinds from an economic slowdown with supply of key commodities being equally challenged, he adds.

Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle that will be painful for Americans. The Fed has been on a campaign to raise interest rates and Powell said at Jackson Hole that the fight against inflation is not...

World stocks sank Monday and the dollar rallied on concern the Federal Reserve will stick to its interest rate-hiking plans to combat inflation. Eurozone equities tanked as spiking natural gas prices sparked fears that winter energy shortages could cause recession, which helped push the euro down to a 20-year low...