The head of the Federal Reserve Bank of St. Louis, James Ballard, in an interview with Bloomberg, expressed the opinion that perhaps in December it was not necessary to raise the rate on federal credit funds. After raising the base interest rate by 0.25 percentage points in December, the US Federal Reserve decided to postpone further steps in this direction, as internal and external risks increase and inflation falls short of the target 2%. In his opinion, it is now too early to talk about a rate cut. However, if the US economy exceeds forecasts, then it will be advisable to lower the rate by 0.25 percentage points. At the same time, according to the chairman of the Federal Reserve Bank of Boston, Eric Rosengren, the current level of the rate slightly stimulates GDP growth and helps approach the target level of inflation. He believes that the rate should remain at the current level.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...