Sentiment was given an early boost by the growing belief that the U.S.
's interest rate hike on Wednesday could be the last of its tightening cycle, even after Fed Chair Jerome Powell kept open the possibility of a further hike later in the year., raising the possibility of a so-called soft landing for the largest economy in the world and a major global growth driver., which is also expected to raise interest rates by a quarter of a percentage point later in the session.
Given a hike is largely baked in, the focus will be on President Christine Lagarde’s following press conference for clues on what's to come later in the summer.at 5.5% in June, but growth is slowing and recent comments from council members have tended towards the dovish side.rising to -24.4 heading into August from a slightly revised -25.2 in July.
Saudi Arabia and Russia both recently announced plans to cut production further in August, in an attempt to boost prices by tightening global supply. Oil prices fell on Wednesday after data showed U.S. crude inventories fell less than expected and the Federal Reserve raised interest rates again.
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