UK inflation stays at 2% target in June, leaving possible rate cut on a 'knife edge'
Wednesday, 17 July 2024 () Inflation in the U.K. held steady at the Bank of England’s target rate of 2% in June. The Office for National Statistics said Wednesday that the largest upward contribution came from restaurants and hotels, with some economists attributing the increases to Taylor Swift’s tour of the U.K. The biggest downward contribution came from clothing and footwear, with widespread sales during the month. The flat annual reading compared to June a year ago was a tad higher than expected. Most economists had anticipated a modest decline to 1.9% Financial markets think it’s going to be a close call as to whether the Bank of England will reduce its main interest rate from 5.25% on Aug. 1.
Surge of New Applications for , Unemployment Benefits , May Signal Cooling Job Market.
Last week, the number of people in the
United States filing for unemployment benefits
reached the highest level..
Credit: Wibbitz Top Stories Duration: 01:30Published
Fed Holds Steady , With Interest Rates at , 2-Decade High.
On June 12, the Federal Reserve chose to hold
interest rates at a two-decade high while it
waits to see more signs of inflation going..
Credit: Wibbitz Top Stories Duration: 01:31Published
European Central Bank , Cuts Interest Rates.
The action was confirmed on June 6 at
the central bank's meeting, CNBC reports. .
The European Central Bank's (ECB) key
rate will go from 4% down to..
Credit: Wibbitz Top Stories Duration: 01:31Published
Wednesday, 17 July 2024 ()
![Surge of New Applications for Unemployment Benefits May Signal Cooling Job Market [Video]](https://video.newsserve.net/300/v/20240613/1378501356-Surge-of-New-Applications-for-Unemployment-Benefits-May.jpg)
![Fed Holds Steady With Interest Rates at 2-Decade High [Video]](https://video.newsserve.net/300/v/20240612/1378403338-Fed-Holds-Steady-With-Interest-Rates-at.jpg)
![European Central Bank Cuts Interest Rates [Video]](https://video.newsserve.net/300/v/20240606/1377665674-European-Central-Bank-Cuts-Interest-Rates.jpg)
