Financial Digest

US holds interest rates steady putting pressure on the Bank of England

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The US central bank is seeking to guide the US economy toward a so-called 'soft landing' by easing inflation without triggering a deep recession

Core inflation, which strips out volatile prices such as fuel and food and is believed to be a better measure, is currently 4.2 per cent.

The Fed report raised its forecast for US economic growth from 0.4 per cent in earlier projections to 2.1 per cent. The US central bank is seeking to guide the US economy toward a so-called “soft landing” by easing inflation without triggering a deep recession.

 

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