It keeps the central bank’s key rate at a 16-year high of 5.25%, where it has been held since August 2023.
Category: Finance News
Switzerland makes second interest rate cut as major economies diverge on monetary policy easing
The Swiss National Bank trimmed its key interest rate by 25 basis points to 1.25% in its second cut of the year.
These groups help people of color and the LGBTQ+ community find a ‘radically inclusive space’ in the outdoors
Nonprofits such as Hoods to Woods, Edge Outdoors and Unlikely Riders are dedicated to creating communities in the outdoors for marginalized people.
Fitch pushes back China rate cut expectations to next year as Fed holds interest rates steady
Fitch now forecasts China will keep its one-year medium-term lending facility (MLF) unchanged this year at 2.5%, and cut it to 2.25% next year.
The UAE is set to be the No. 1 ‘wealth magnet’ in the world, new report shows
A record-breaking 128,000 millionaires are expected to relocate in 2024, according to the Henley Private Wealth Migration Report.
UK inflation falls to Bank of England’s 2% target ahead of elections
The Office for National Statistics released inflation figures for May on Wednesday.
Klarna rival Zilch raises $125 million with aim to triple sales and accelerate path to IPO
British fintech firm Zilch says it’s raised $125 million in debt from Deutsche Bank to help it further its path toward an eventual initial public offering.
The Fed is ‘playing with fire’ by not cutting rates, says creator of ‘Sahm Rule’ recession indicator
As the jobless level has ticked up in recent months, the “Sahm Rule” has generated increasing talk on Wall Street.
Steve Cohen is set to make a big push into investing in AI
Steve Cohen’s Point72 plans to launch a separate, artificial intelligence-focused hedge fund to capitalize on the boom.
Stocks making the biggest moves midday: La-Z-Boy, Rocket Lab USA, NextEra Energy and more
These are the stocks posting the largest moves in midday trading.