From new york, heres the bbc s north America Business correspondent, michelle fleury. Stubborn inflation pushes back the timing of the first rate cut. The Us Federal Reserve voted to keep its Benchmark Lending Rate at a 23 year high on wednesday. Officials have said they want more certainty that inflation is under control before they Lower Borrowing costs. They do not have that yet. Here is chair, jerome powell, during his press conference. The economy has made considerable progress towards our dual mandate objectives. Inflation has eased substantially over the past year, while the Labour Market has remained strong. And that is very good news. But inflation is still too high, further progress in bringing it down is not assured and the path forward is uncertain. We are fully committed to returning inflation to our 2 goal. While the prices of many goods have fallen, from cars to furniture, an increase in housing and Petrol Prices have contributed to a recent rise in consumer inflation. W
from new york. michelle fleury reports. we should get further evidence there is slowdown in the job markets. employers are growing more cautious and employees are sticking around longer. one caveat should see some distortion to the numbers, the auto and actors strikes both endedin auto and actors strikes both ended in november with many returning to work that same month. plus, the end of the year is when many seasonal workers get taken on. american central bank, the federal reserve, it will be watching closely because lowerjob growth will feel expectations the pheasant will leave rates on hold. they have risen 5% from nearly zero since march of last year as it wrestled to bring down inflation. thejobs report is a lot of economics data before the us central bank s meeting next week. despite expectation for a slowdown, america s labour market remains strong by historical standards. still, market remains strong by historicalstandards. still, if historical standards. still, if ec
welcome to our look at the top business stories. i m lukwesa burak. today, global markets will be watching the latest us inflation data for clues as to whether the federal reserve might move again on interest rates. inflation was 3.7% over the 12 months to september which is the same rate recorded for august. while inflation has cooled significantly from last year, it remains higher than the 2% target. this month, the us central bank held its key interest rate at its current 22 year high as it seeks to stabilise price rises, which had recently reached near record levels. joining me now is steven blitz, chief us economist, ts lombard. hello and welcome to the programme. hello and welcome to the programme- hello and welcome to the - programme. what are programme. thank you. what are ou programme. thank you. what are you expecting programme. thank you. what are you expecting later programme. thank you. what are you expecting later today? - programme. thank you. what are