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The bank noted that "the current monetary stance is appropriate to support the sustained moderation of inflation."
Fed officials noted that the path toward looser monetary policy has become shorter
For the Middle East and Central Asia, oil production and regional conflicts continue to weigh on prospects
Food and beverage prices increased by 1.1 percent, driven by a 6.5 percent rise in vegetable prices
Fed Chair Powell expressed confidence that inflation is returning to the central bank's target of 2 percent
Gold prices surged above the $2,400 level after data showed unexpected decline in U.S. inflation
Brent oil futures for September delivery rose 0.1 percent to $85.52 per barrel
Traders are currently pricing in a 46 percent chance that the Fed will cut rates twice by the end of the year
Brent Oil Futures expiring in September rose 0.7 percent to $85.74 a barrel
Global physically backed gold exchange-traded funds saw inflows for the second month straight in June
The remittances in May 2023 amounted to around $1.6 billion, as reported by CBE
Recent weak U.S. economic data has raised the market's hopes for two interest rate cuts by the end of the year
Unemployment reached a 2.5-year high of 4.1 percent, signaling a softer U.S. labor market
Kuwait needs economic reforms for fiscal sustainability and diversifying non-oil revenues, says Minister
Brent crude futures were down 48 cents, or 0.55 percent, at $86.86 a barrel
This marks first decrease in months as disinflation process begins
Saxo Bank expects U.S. and European sovereign bond yields to remain range-bound in Q3 2024
Fed Chair Jerome Powell said on Tuesday the U.S. was back on a 'disinflationary path' but policymakers remain cautious
Fed chair Jerome Powell's speech later today to provide insight into the U.S. interest rate outlook
Brent oil futures for September delivery increased 0.3 percent to $85.29 per barrel
U.S. personal consumption expenditures index rose by 2.6 percent in May after a 2.7 percent rise in April
The economy had contracted for two consecutive quarters in the second half of 2023, indicating a recent recession
GCC banks' revenue-to-assets ratio is 3.2 percent, well above the global average of 2.3 percent
Investors today await the U.S. personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure
