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After its December meeting on Wednesday, the Federal Reserve said it would keep interest rates at the current level, marking an end to the series of rate cuts that aided economy and markets amid recession fears brought by trade disputes along with other uncertainties.
Fed’s policymakers unanimously voted to keep rates steady and blinking between 1.5% and 1.75%. The decision was labeled “appropriate” by the policymakers, saying that it would help in sustaining economic expansion.
The decision, however, was anticipated by the market participants as the Fed had already signaled a long pause as it previously stated it would wait for the previous cuts to take effect in the markets.
The majority of the participants on the Federal Open Market Committee’s policy-setting jury now anticipate a cessation of rate cuts in 2020, as predicted by the central bank. Only four of the seventeen members predicted that rates may be changed a little later.
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
On Tuesday, United States Federal Reserve officials warned a "thick fog of uncertainty" on the U.S. economy as it slowly recovers amid the surge in coronavirus cases. The U.S. central bank stated that the pandemic's second wave would cause ...
The economy in the European Union will plunge deeper into recession for 2020 and may recover only slightly in 2021 than previously thought, the European Commission predicted on Tuesday. The downbeat assessment of Europe's economy comes as ...
New Zealand’s central bank is expected to keep rates unmoved at its policy meeting on Wednesday. However, it projects a cautious tone as fears of a second wave of COVID-19 infections dampened outlook and increased economic uncertainty. All ...
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