The dollar gave back some of Wednesday's gains and gold rallied as investors grew accustomed to the reality that the central bank will take a slower, more measured approach to policy easing
It may not be all that surprising that a growth upgrade for next year may be back in the cards again this week when Fed policymakers gather to deliver what is expected to be a third interest rate cut
The remarks provide a small taste of what's expected to be a broad but closed-door debate of the appropriate path for policy at the Fed's upcoming policy meeting, on Nov. 6-7
The greenback was down 0.39 per cent at 148.71 yen after rising to as high as 149.58 yen for the first time since Aug. 2 . The euro dropped to its lowest since Aug. 9 against the dollar
"If the economy evolves broadly as expected, policy will move over time toward a more neutral stance," Powell said
The BSE Sensex, NSE Nifty can gain another 2% from present levels; while the Nifty IT index could see a sharp 6% rally; suggests technical charts.
Traders now see just a 15 per cent chance of a half-point rate cut at the Fed's Sept. 17-18 policy-setting meeting
The Federal Reserve is expected to cut interest rates next week for the first time in more than four years
In 2001 and 2019 - an aggressive and shallow rate-cutting cycle, respectively - the spread turned positive about three months after the first cut
Brent crude futures climbed 79 cents, or 1 per cent, to $79.81 a barrel by 0910 GMT, while US crude futures were at $75.63 a barrel, up 80 cents, or 1.07 per cent
On Friday, Powell will again deliver his most important policy speech of the year from that closely watched stage
The hotly anticipated speech at the Fed's annual gathering in Jackson Hole, Wyoming, comes at a high stakes moment for the US central bank and the $27 trillion Treasury market
Despite recent economic data fueling recession fears, American consumers have remained resilient in face of higher-for-longer interest rates
Indian stock market is much more resilient in the face of a US downturn and related Wall Street sell-off than the likes of Japan, Wood said
Reserve Bank of India (RBI) is likely to keep the key interest unchanged at 6.5 per cent on Thursday, and wait for more macroeconomic data before taking a call on rate cut in line with expectations, experts said. The US Federal Reserve has decided to maintain a status quo on its interest rate for now and indicated there could be monetary policy easing in the coming months. Amid persisting inflationary pressures, RBI will be closely tracking the US monetary policy trajectory before changing its stance on interest rate, which has remained unchanged since February 2023, experts opined. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo rate). The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for August 6 to 8. Das will announce the decision of the rate-setting panel on August 8 (Thursday). The central bank last hiked the repo rate to 6.5 pe
Officials also tempered their assessment of the labor market, noting job gains had moderated and the unemployment rate has moved up, but is still low
ECB came out with a balanced message following Thursday's meeting, arguing that corporate profits were absorbing some price pressures but risks remained
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RBI's MPC has sounded caution on sticky food inflation, Goldman Sachs says, owing to supply-side disruptions due to the ongoing hot weather conditions in many parts of India
The survey of global fund managers with $562 billion in asset under management found 82% expect the first rate cut by the Federal Reserve in the second half